Ontario Taxes 2014 Calculator

Calculate your Ontario personal income tax for 2014 using this official calculator. Understand the tax brackets, deductions, and credits that apply to your income.

How Ontario Taxes 2014 Work

Ontario's personal income tax system for 2014 was based on progressive tax brackets that applied to taxable income after deductions. The tax year ran from January 1 to December 31, 2014.

Note: This calculator uses the 2014 tax rates and brackets. For current tax information, consult the Canada Revenue Agency or a tax professional.

Taxable Income Calculation

Your taxable income is calculated by subtracting eligible deductions from your total income. The formula is:

Taxable Income = Total Income - Deductions

Common deductions include:

RRSP contributions
Union dues
Medical expenses
Donations to registered charities
Pension adjustments

Ontario Tax Brackets 2014

The 2014 Ontario tax rates were as follows:

Taxable Income	Tax Rate
$0 - $41,908	19.5%
$41,909 - $83,817	23.5%
$83,818 - $104,275	26.5%
$104,276 - $208,551	29.5%
$208,552+	33.5%

For example, someone earning $50,000 would pay 19.5% on the first $41,908 and 23.5% on the remaining $8,100.

Common Deductions

Several deductions can reduce your taxable income:

RRSP Contributions: Up to 18% of earned income
Union Dues: Up to 1% of earned income
Medical Expenses: Eligible medical expenses over 3% of income
Charitable Donations: Up to 75% of income
Pension Adjustments: For those receiving pensions

Always consult a tax professional to ensure you're claiming all eligible deductions.

Tax Credits

Ontario offered several tax credits in 2014:

Basic Personal Amount: $10,703
Ontario Child Benefit: $6,500 per child
Ontario Disability Support: Varies by situation
Ontario Trillium Benefit: For seniors

These credits reduce your tax liability dollar-for-dollar.

Worked Example

Let's calculate the tax for a single person with $50,000 income, $5,000 in RRSP contributions, and no other deductions or credits.

Total Income: $50,000
Deductions: $5,000 (RRSP)
Taxable Income: $50,000 - $5,000 = $45,000
Tax Calculation:
- $41,908 × 19.5% = $8,162.70
- ($45,000 - $41,908) × 23.5% = $787.30
- Total Tax: $8,162.70 + $787.30 = $8,950.00
After Basic Personal Amount: $8,950.00 - $10,703 = -$1,753 (refund)

This person would receive a tax refund of $1,753.

Frequently Asked Questions

What is the Ontario tax rate for 2014?: The Ontario tax rates for 2014 ranged from 19.5% to 33.5% depending on income level.
How do I claim deductions?: You can claim deductions by completing your tax return and providing supporting documentation.
What are tax credits?: Tax credits reduce your tax liability dollar-for-dollar, unlike deductions which reduce taxable income.
When is the Ontario tax deadline?: The 2014 tax deadline was April 30, 2015 for most filers.
Where can I find official tax information?: Visit the Canada Revenue Agency website for official tax information.