Quick Tax Calculator Ontario 2020

Use this Ontario 2020 tax calculator to estimate your provincial income tax liability. This tool provides a quick estimate based on standard Ontario tax rates and common deductions. For exact calculations, consult a tax professional or use official government tax forms.

How to Use This Calculator

Enter your total taxable income for 2020 in the calculator panel on the right. The calculator will show your estimated Ontario provincial tax based on 2020 tax rates. You can also adjust for common deductions and credits.

This calculator provides an estimate only. Actual tax liability may vary based on your specific situation and other factors not accounted for in this tool.

Ontario Tax Basics 2020

Ontario uses a progressive tax system with different tax rates for different income brackets. The 2020 tax rates were:

5.05% on the first $44,709 of taxable income
9.15% on the next $44,709 (between $44,709 and $89,418)
11.16% on the next $55,265 (between $89,418 and $144,683)
12.16% on the next $66,291 (between $144,683 and $210,974)
13.16% on income over $210,974

These rates apply to Ontario residents. Non-residents pay a flat 13.05% rate on all taxable income.

Tax Calculation Details

The calculator uses the following formula for Ontario residents:

Ontario Tax = (Income × 5.05%) + (Income × 9.15% if over $44,709) + (Income × 11.16% if over $89,418) + (Income × 12.16% if over $144,683) + (Income × 13.16% if over $210,974)

For non-residents, the calculation is simpler:

Ontario Tax = Income × 13.05%

Common Deductions and Credits

Several deductions and credits can reduce your taxable income:

Basic Personal Amount: $12,069 in 2020
Canada Pension Plan (CPP) contributions
Registered Retirement Savings Plan (RRSP) contributions
Tax-Free Savings Account (TFSA) contributions
Medical expenses over 3% of income
Donations to qualified charities

The calculator includes the Basic Personal Amount by default. You can adjust for other deductions manually.

Example Calculation

Let's calculate the tax for an Ontario resident with $60,000 taxable income:

First $44,709 × 5.05% = $2,257.30
Next $15,291 × 9.15% = $1,399.20
Total tax = $2,257.30 + $1,399.20 = $3,656.50

This example shows the progressive nature of Ontario's tax system.

Frequently Asked Questions

Is this calculator accurate for my situation?: This calculator provides an estimate based on standard Ontario tax rates. For exact calculations, consult a tax professional or use official government tax forms.
What about federal tax?: This calculator only calculates Ontario provincial tax. Federal tax is calculated separately using your federal tax rates.
Can I use this for 2021 or later years?: No, this calculator is specifically for Ontario tax in 2020. Tax rates and rules change each year, so you would need a different calculator for other years.
What about capital gains?: This calculator does not account for capital gains. Capital gains are taxed separately based on your holding period and other factors.
How do I file my taxes?: You can file your Ontario taxes using the Ontario government's online tax filing system or by mail. The calculator can help you estimate what you owe before filing.