Income Tax Return Calculator Ontario 2018
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Reviewed by Calculator Editorial Team
Use this Ontario income tax return calculator to estimate your 2018 tax liability. The calculator applies federal and provincial tax rates, deductions, and credits to your income. For exact tax returns, consult a tax professional.
How to Use This Calculator
Enter your total income for 2018, select your filing status, and enter any applicable deductions. The calculator will compute your federal and provincial tax liability, net tax payable, and estimated refund or payment.
This calculator provides estimates only. Actual tax returns may differ based on specific circumstances and changes in tax laws.
Ontario Tax Rates 2018
The 2018 Ontario tax rates are as follows:
| Tax Bracket | Federal Rate | Ontario Rate |
|---|---|---|
| Up to $45,282 | 15% | 5.05% |
| $45,282.01 - $90,563 | 20.5% | 9.15% |
| $90,563.01 - $140,388 | 26% | 11.16% |
| $140,388.01 - $200,000 | 29% | 12.16% |
| Over $200,000 | 33% | 13.16% |
Common Deductions
Several deductions can reduce your taxable income:
- RRSP contributions (up to 18% of income)
- Medical expenses (over 3% of income)
- Donations to registered charities
- Home office expenses
- Moving expenses (for those who relocated)
Worked Example
For a single filer with $60,000 income and $5,000 in RRSP contributions:
- Taxable income = $60,000 - $5,000 = $55,000
- Federal tax = $55,000 × 20.5% = $11,275
- Ontario tax = $55,000 × 9.15% = $5,032.50
- Total tax = $11,275 + $5,032.50 = $16,307.50
- Net tax payable = $16,307.50 (assuming no credits)
Frequently Asked Questions
How accurate is this calculator?
This calculator provides estimates based on 2018 tax rates. For exact calculations, consult a tax professional or use official government forms.
Are the tax rates the same for all provinces?
No, tax rates vary by province. This calculator specifically applies Ontario's 2018 rates.
Can I use this calculator for 2019 or later years?
No, this calculator is designed for 2018 tax returns only. Tax laws and rates change annually.
What if I have capital gains?
This calculator does not account for capital gains. You may need to report them separately on your tax return.