Calculate Tax Refund Ontario 2019
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Reviewed by Calculator Editorial Team
Calculating your Ontario tax refund for 2019 involves determining how much tax you paid and comparing it to what you owe. This guide explains the process step-by-step, including how to use our calculator to find your refund amount.
How to Calculate Your Ontario Tax Refund for 2019
To calculate your Ontario tax refund for 2019, follow these steps:
- Determine your total taxable income for 2019 by adding all income sources and subtracting deductions.
- Calculate your Ontario tax liability using the Ontario tax brackets for 2019.
- Subtract your tax liability from the total tax paid to find your refund amount.
Our calculator simplifies this process by automating these steps. Simply enter your total income and tax paid, and it will calculate your refund.
Note: This calculation assumes you have no outstanding tax debts or credits from previous years. For a more accurate result, consult a tax professional.
Formula Used
The formula to calculate your Ontario tax refund for 2019 is:
Tax Refund = Total Tax Paid - Ontario Tax Liability
Where:
- Total Tax Paid is the sum of all federal and provincial taxes paid during 2019.
- Ontario Tax Liability is calculated using the Ontario tax brackets for 2019.
The Ontario tax brackets for 2019 were:
| Taxable Income | Tax Rate |
|---|---|
| $0 - $43,906 | 5.05% |
| $43,907 - $87,813 | 9.15% |
| $87,814 - $150,000 | 11.16% |
| $150,001 - $220,000 | 12.16% |
| $220,001+ | 13.16% |
Worked Example
Let's calculate the tax refund for someone with a taxable income of $60,000 and total tax paid of $4,500.
- Calculate Ontario tax liability:
- $43,906 × 5.05% = $2,195.33
- ($60,000 - $43,906) × 9.15% = $13,047.65
- Total tax liability = $2,195.33 + $13,047.65 = $15,242.98
- Calculate tax refund:
- $4,500 (tax paid) - $15,242.98 (tax liability) = -$10,742.98
In this example, the person owes an additional $10,742.98 in taxes, so they do not receive a refund.
Frequently Asked Questions
How do I get my Ontario tax refund?
If you're owed a refund, the Canada Revenue Agency (CRA) will send you a cheque or deposit the amount directly into your bank account. You can track your refund status online through the CRA website.
What if I don't receive my refund?
If you don't receive your refund within 30 days, contact the CRA to check the status. You may need to provide additional documentation or resolve any discrepancies in your tax return.
Can I claim a tax refund for 2019 if I filed in 2020?
Yes, you can still claim a tax refund for 2019 even if you filed your return in 2020. The calculation process remains the same, but you should ensure you have all necessary documentation from 2019.