Ontario 2019 Tax Return Calculator
This Ontario 2019 Tax Return Calculator helps you estimate your provincial tax liability based on your income and deductions. The calculator uses the 2019 Ontario tax rates and brackets to provide an accurate estimate of your tax return.
How to Use This Calculator
To use the Ontario 2019 Tax Return Calculator, follow these steps:
- Enter your total taxable income for the year.
- Enter any deductions you qualify for, such as RRSP contributions or medical expenses.
- Select your filing status (Single, Married, or Other).
- Click the "Calculate" button to see your estimated tax return.
The calculator will display your estimated tax refund or amount owed based on the 2019 Ontario tax rates.
Formula Used
The Ontario 2019 tax return is calculated using progressive tax brackets. The formula is:
Tax Owed = (Taxable Income × Tax Rate) - (Deductions × Deduction Rate)
The tax rates for 2019 were:
- 5.05% on the first $44,753 of taxable income
- 9.15% on the next $44,753
- 11.16% on the next $50,251
- 12.16% on the next $62,704
- 13.16% on amounts over $162,461
Deductions are subtracted from your taxable income before calculating the tax owed.
Worked Example
Let's calculate the tax return for a single filer with $60,000 in taxable income and $5,000 in deductions.
- Taxable Income = $60,000 - $5,000 = $55,000
- First $44,753 × 5.05% = $2,261.88
- Next $10,247 × 9.15% = $935.66
- Total Tax Owed = $2,261.88 + $935.66 = $3,197.54
This filer would receive a tax refund of approximately $3,197.54.