Pay Calculator Ontario 2015

Calculate Ontario payroll taxes, including CPP, EI, and income tax for the 2015 tax year. This calculator helps employers and employees understand their net pay after deductions.

How to Use This Calculator

Enter your gross pay amount and select the appropriate tax year. The calculator will compute the deductions and show your net pay.

This calculator uses 2015 Ontario tax rates and thresholds. For current year calculations, use a more recent tax calculator.

Formula Used

The net pay is calculated by subtracting all deductions from the gross pay:

Net Pay = Gross Pay - (CPP + EI + Income Tax)

The deductions are calculated as follows:

CPP (Canada Pension Plan): 5.1% of gross pay (maximum $2,693.40)
EI (Employment Insurance): 1.6% of gross pay (maximum $854.40)
Income Tax: Based on Ontario tax brackets for 2015

Worked Example

For a gross pay of $50,000 in 2015:

CPP: 5.1% of $50,000 = $2,550 (capped at $2,693.40)
EI: 1.6% of $50,000 = $800 (capped at $854.40)
Income Tax: $10,500 (based on 2015 Ontario tax brackets)
Total Deductions: $2,693.40 + $854.40 + $10,500 = $14,047.80
Net Pay: $50,000 - $14,047.80 = $35,952.20

Frequently Asked Questions

What is included in Ontario payroll taxes?: Ontario payroll taxes include CPP, EI, and income tax. CPP and EI are mandatory contributions, while income tax is based on your taxable income.
Are there any exemptions for payroll taxes?: CPP and EI have maximum contribution limits. Income tax may have exemptions depending on your situation, but this calculator uses standard rates.
How do I adjust for overtime pay?: Overtime pay is calculated at 1.5 times your regular hourly rate. Enter the total gross pay including overtime in the calculator.
Is this calculator accurate for 2015?: Yes, this calculator uses 2015 Ontario tax rates and thresholds. For current year calculations, use a more recent tax calculator.
Can I use this calculator for self-employed income?: This calculator is designed for regular employment payroll. Self-employed individuals should use a self-employment tax calculator.