Cal11 calculator
Search calculator...

Ontario Income Tax Rates 2015 Calculator

Reviewed by Calculator Editorial Team

Use this Ontario income tax calculator to determine your provincial tax liability for the 2015 tax year. The calculator applies the 2015 tax rates and brackets to your gross income, providing an estimate of your Ontario income tax, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums.

How Ontario Income Tax Works in 2015

Ontario income tax is a progressive tax system that applies different tax rates to different income brackets. In 2015, Ontario residents were subject to provincial income tax, federal income tax, and payroll deductions such as the Canada Pension Plan (CPP) and Employment Insurance (EI).

Key Components of Ontario Income Tax

  • Provincial Income Tax: Calculated based on Ontario tax brackets and rates.
  • Federal Income Tax: Calculated based on federal tax brackets and rates.
  • CPP Contributions: 4.95% of earnings up to the CPP contribution limit.
  • EI Premiums: 1.66% of earnings up to the EI premium limit.

Tax-Free Allowances

In 2015, Ontario residents received a basic personal amount (BPA) of $10,922, which was tax-free. This amount was adjusted for dependents and other factors.

Note

The 2015 tax rates and brackets are historical and may not reflect current tax laws. For current tax information, consult the Canada Revenue Agency (CRA) or a tax professional.

2015 Ontario Tax Brackets

The 2015 Ontario tax brackets and rates were as follows:

Taxable Income Ontario Tax Rate
$0 - $41,907 5.05%
$41,908 - $83,810 9.15%
$83,811 - $150,000 11.16%
$150,001 - $220,000 12.16%
Over $220,000 13.16%

The federal tax rates for 2015 were:

Taxable Income Federal Tax Rate
$0 - $45,282 15%
$45,283 - $90,563 20.5%
$90,564 - $140,388 26%
$140,389 - $200,000 29%
Over $200,000 33%

How to Calculate Ontario Income Tax

To calculate your Ontario income tax, follow these steps:

  1. Determine your gross income for the year.
  2. Subtract your tax-free allowances (e.g., Basic Personal Amount).
  3. Calculate provincial income tax using the Ontario tax brackets.
  4. Calculate federal income tax using the federal tax brackets.
  5. Calculate CPP contributions (4.95% of earnings up to the CPP contribution limit).
  6. Calculate EI premiums (1.66% of earnings up to the EI premium limit).
  7. Add up all deductions to find your total tax liability.

Formula for Ontario Income Tax

Ontario Income Tax = (Gross Income - Tax-Free Allowances) × Ontario Tax Rate

Federal Income Tax = (Gross Income - Tax-Free Allowances) × Federal Tax Rate

CPP Contributions = Earnings × 4.95% (up to CPP contribution limit)

EI Premiums = Earnings × 1.66% (up to EI premium limit)

Worked Example

Let's calculate the income tax for a single Ontario resident with a gross income of $60,000 in 2015.

  1. Gross Income: $60,000
  2. Tax-Free Allowances: $10,922 (BPA)
  3. Taxable Income: $60,000 - $10,922 = $49,078
  4. Ontario Tax:
    • $41,907 × 5.05% = $2,104.34
    • ($49,078 - $41,907) × 9.15% = $666.34
    • Total Ontario Tax = $2,104.34 + $666.34 = $2,770.68
  5. Federal Tax:
    • $45,282 × 15% = $6,792.30
    • ($49,078 - $45,282) × 20.5% = $796.34
    • Total Federal Tax = $6,792.30 + $796.34 = $7,588.64
  6. CPP Contributions: $60,000 × 4.95% = $2,970.00
  7. EI Premiums: $60,000 × 1.66% = $996.00
  8. Total Tax Liability: $2,770.68 + $7,588.64 + $2,970.00 + $996.00 = $14,325.32

This example shows that a single Ontario resident with a gross income of $60,000 would owe approximately $14,325.32 in income taxes for the 2015 tax year.

Frequently Asked Questions

What is the basic personal amount (BPA) for 2015?

The basic personal amount (BPA) for 2015 was $10,922. This amount was tax-free and could be adjusted for dependents.

How are CPP and EI contributions calculated?

CPP contributions are 4.95% of earnings up to the CPP contribution limit. EI premiums are 1.66% of earnings up to the EI premium limit. These contributions are deducted from your gross income.

Are there any provincial tax credits available in 2015?

Yes, Ontario offered various provincial tax credits in 2015, such as the Ontario Trillium Benefit and the Ontario Child Benefit. These credits could reduce your tax liability.

How do I file my Ontario income tax return?

You can file your Ontario income tax return using the Canada Revenue Agency's (CRA) online filing system, by mail, or through a tax professional. The deadline for filing in 2015 was April 30, 2016.