Ontario Income Tax Calculator 2020
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Reviewed by Calculator Editorial Team
Use this Ontario Income Tax Calculator 2020 to estimate your provincial tax liability based on your taxable income. The calculator uses the official 2020 tax rates and brackets for Ontario residents. You can adjust for deductions and credits to get a more accurate estimate.
How the Ontario Income Tax Calculator Works
The Ontario Income Tax Calculator 2020 applies the provincial tax rates to your taxable income. The calculation follows these steps:
- Enter your total taxable income for 2020
- Select your filing status (Single, Married, or Other)
- Add any applicable deductions or credits
- The calculator applies the Ontario tax brackets to compute your provincial tax
- Results show your estimated Ontario income tax
Formula Used
Ontario Income Tax = Sum of (Taxable Income × Marginal Rate for each Bracket)
Where marginal rates are applied to portions of income in each bracket.
The calculator uses the official 2020 Ontario tax rates, which are progressive and vary by filing status. For more precise results, consult the Canada Revenue Agency (CRA) or a tax professional.
Ontario Tax Brackets for 2020
The 2020 Ontario tax rates are progressive, meaning higher incomes are taxed at higher rates. The brackets are the same for all filing statuses except for the highest bracket which applies to higher incomes.
| Taxable Income | Marginal Rate |
|---|---|
| $0 - $44,703 | 5.05% |
| $44,704 - $89,407 | 9.15% |
| $89,408 - $150,000 | 11.16% |
| $150,001 - $220,000 | 12.16% |
| $220,001+ | 13.16% |
Note
These are the provincial tax rates only. Federal tax rates are calculated separately and added to the provincial tax to get your total income tax.
Common Ontario Tax Deductions
Several deductions can reduce your Ontario taxable income. Common ones include:
- RRSP contributions (up to 18% of income)
- Medical expenses (over 3% of income)
- Donations to registered charities
- Home office expenses
- Tuition and education expenses
Deductions can significantly lower your taxable income and reduce your Ontario income tax liability. The calculator includes a field for deductions, but for precise results, consult the CRA guidelines.
Example Calculation
Let's calculate the Ontario income tax for a single filer with $90,000 taxable income and no deductions.
- $44,703 × 5.05% = $2,257.72
- ($90,000 - $44,703) × 9.15% = $4,053.47
- Total Ontario Income Tax = $2,257.72 + $4,053.47 = $6,311.19
This example shows how the progressive tax system applies lower rates to the first portion of income and higher rates to the remaining portion.
Frequently Asked Questions
Is this calculator official?
This calculator uses official 2020 Ontario tax rates and provides estimates. For exact tax calculations, consult the Canada Revenue Agency or a tax professional.
How do I get my taxable income?
Your taxable income is your total income minus eligible deductions. The CRA provides detailed guidelines on calculating taxable income.
Are there other Ontario taxes besides income tax?
Yes, Ontario has other taxes like the Ontario Sales Tax (HST) and Property Transfer Tax. This calculator focuses only on income tax.
Can I use this calculator for 2021?
No, this calculator is specifically for 2020 tax rates. For 2021 calculations, use the updated tax rates and brackets.