Child Tax Calculator 2015 Ontario

Use this child tax calculator to determine your Ontario child tax benefit for 2015. The calculator provides an estimate based on your income and the number of eligible children. This tool helps you understand how much you can claim and how it affects your tax return.

How the Child Tax Calculator Works

The Ontario Child Tax Benefit (CTB) is a refundable tax credit that helps families with the cost of raising children. For 2015, the CTB was calculated based on your net family income and the number of eligible children.

Key Assumptions

Maximum benefit for each child: $1,100 per year
Phase-out starts at $110,000 of net family income
Full benefit available for families with income below $43,000

Child Tax Benefit = (Maximum Benefit per Child × Number of Eligible Children) × (1 - (Net Family Income - Phase-out Start) / (Phase-out End - Phase-out Start))

The formula calculates the benefit by first determining the maximum possible benefit based on the number of children, then applying a phase-out based on your net family income. The phase-out reduces the benefit to zero when your income reaches $154,000.

How to Use This Calculator

Enter your net family income for 2015 in the designated field.
Select the number of eligible children from the dropdown menu.
Click "Calculate" to see your estimated child tax benefit.
Review the result and use the information to complete your tax return.

This calculator provides an estimate. For exact amounts, consult the Canada Revenue Agency or a tax professional.

Worked Examples

Example 1: Single Parent with One Child

Net family income: $35,000
Number of eligible children: 1

Calculation: (1,100 × 1) × (1 - (35,000 - 110,000) / (154,000 - 110,000)) = $1,100

Result: You qualify for the full child tax benefit of $1,100.

Example 2: Family with Two Children

Net family income: $80,000
Number of eligible children: 2

Calculation: (1,100 × 2) × (1 - (80,000 - 110,000) / (154,000 - 110,000)) ≈ $1,466.67

Result: Your family qualifies for approximately $1,467 in child tax benefits.

Frequently Asked Questions

What is the Ontario Child Tax Benefit?: The Ontario Child Tax Benefit is a refundable tax credit that helps families with the cost of raising children. It's part of the federal Child Tax Benefit program.
How is the benefit calculated?: The benefit is calculated based on your net family income and the number of eligible children. The amount phases out as income increases.
When should I use this calculator?: Use this calculator to estimate your child tax benefit before filing your 2015 Ontario tax return. It provides a quick reference point.
Is this calculator official?: This calculator provides estimates based on official government guidelines. For exact amounts, consult the Canada Revenue Agency.
What if my income is very high?: If your net family income exceeds $154,000, you won't qualify for any child tax benefit. The benefit phases out completely at this income level.