Ontario 2015 Tax Calculator

How to Use This Calculator

Using this Ontario 2015 tax calculator is simple:

1. Enter your total taxable income for 2015 in the "Income" field.
2. Select your filing status (Single, Married, or Other).
3. Enter any deductions you qualify for in the "Deductions" field.
4. Click "Calculate" to see your estimated tax liability.

The calculator will show you your total tax payable, the tax rate you fall into, and a breakdown of how much you owe in each tax bracket.

Ontario 2015 Tax Brackets

For the 2015 tax year, Ontario had the following progressive tax rates:

These rates apply to federal income tax in Ontario. Provincial tax rates were the same as federal rates for 2015.

How Ontario Income Tax Works

Ontario income tax is calculated using a progressive tax system. This means your tax rate increases as your income increases. The tax is calculated in two parts:

1. Federal income tax
2. Provincial income tax (which is the same as federal rates for 2015)

The total tax payable is the sum of federal and provincial taxes.

Common deductions that may apply include:

• RRSP contributions
• Medical expenses
• Donations to charity
• Home office expenses

Worked Examples

Example 1: Single filer with $50,000 income

For a single filer with $50,000 taxable income:

1. First $41,935 at 20.05% = $8,398.28
2. Next $8,065 at 24.19% = $1,951.73
3. Total federal tax = $10,349.99
4. Provincial tax is the same = $10,349.99
5. Total tax payable = $20,699.98

Example 2: Married filers with $100,000 income

For married filers with $100,000 taxable income:

1. First $41,935 at 20.05% = $8,398.28
2. Next $41,935 at 24.19% = $10,167.53
3. Next $16,125 at 29.35% = $4,733.44
4. Total federal tax = $23,299.25
5. Provincial tax is the same = $23,299.25
6. Total tax payable = $46,598.50