Ontario 2021 Tax Calculator
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Reviewed by Calculator Editorial Team
Calculate your Ontario 2021 income tax with this official tax calculator. This tool provides an estimate of your tax liability based on the 2021 tax rates and brackets for Ontario residents.
How to Use This Calculator
To calculate your Ontario 2021 income tax:
- Enter your total taxable income for 2021 in the "Taxable Income" field.
- Select your filing status from the dropdown menu.
- Click the "Calculate" button to see your estimated tax liability.
The calculator will display your federal tax, provincial tax, and total tax payable. You can also view a breakdown of how your income is taxed in each bracket.
Formula Used
The Ontario 2021 tax calculator uses the following progressive tax rates:
Federal Tax:
- 15% on the first $48,535 of taxable income
- 20.5% on the next $48,535
- 26% on the next $53,404
- 29% on the next $63,895
- 33% on amounts over $166,335
Provincial Tax (Ontario):
- 5.05% on the first $44,771
- 9.15% on the next $44,771
- 11.16% on the next $55,229
- 12.16% on the next $62,113
- 13.16% on amounts over $162,864
The total tax payable is the sum of the federal and provincial taxes.
Worked Example
Let's calculate the tax for a single filer with $80,000 in taxable income:
| Income Bracket | Federal Rate | Provincial Rate | Taxable Income | Federal Tax | Provincial Tax |
|---|---|---|---|---|---|
| $0 - $48,535 | 15% | 5.05% | $48,535 | $7,280.25 | $2,453.33 |
| $48,536 - $80,000 | 20.5% | 9.15% | $31,465 | $6,450.33 | $2,862.68 |
| Total | $80,000 | $13,730.58 | $5,316.01 |
The total tax payable for this example is $19,046.59.
Frequently Asked Questions
What is included in taxable income?
Taxable income includes all income from employment, self-employment, investments, and other sources that are subject to income tax. It excludes certain deductions and exemptions.
How do I file my Ontario taxes?
You can file your Ontario taxes online through the Ontario government's website or by mail using the appropriate forms. The deadline for filing is typically April 30 of the following year.
Are there any deductions I can claim?
Yes, you may be eligible for various deductions such as RRSP contributions, medical expenses, and tuition fees. These can reduce your taxable income and lower your tax liability.