Tax Calculator 2017 Ontario
'/%3E%3Ccircle cx='48' cy='39' r='19' fill='%23f2c9a5'/%3E%3Cpath d='M27 35c3-16 39-17 42 2-8-8-27-9-42-2z' fill='%23374151'/%3E%3Cpath d='M21 86c5-24 49-28 56 0z' fill='%232563eb'/%3E%3Ccircle cx='41' cy='41' r='2' fill='%23111827'/%3E%3Ccircle cx='55' cy='41' r='2' fill='%23111827'/%3E%3Cpath d='M42 52c4 3 9 3 13 0' stroke='%2392400e' stroke-width='3' fill='none' stroke-linecap='round'/%3E%3C/svg%3E)
Reviewed by Calculator Editorial Team
Use this tax calculator to estimate your 2017 Ontario income tax liability. The calculator uses the 2017 Ontario tax rates and brackets to provide an estimate of your federal and provincial income tax, as well as Canada Pension Plan (CPP) and Employment Insurance (EI) contributions.
How to Use This Calculator
To use the Ontario tax calculator:
- Enter your total taxable income for 2017 in the "Taxable Income" field.
- Select your filing status (Single, Married, or Head of Household).
- Click the "Calculate" button to see your estimated tax liability.
- Review the results, including your federal tax, provincial tax, CPP, and EI contributions.
The calculator provides an estimate based on the 2017 Ontario tax rates. For exact tax calculations, consult a tax professional or use official government tax forms.
2017 Ontario Tax Brackets
The 2017 Ontario tax rates and brackets are as follows:
| Taxable Income | Tax Rate |
|---|---|
| $0 - $42,961 | 5.05% |
| $42,962 - $85,923 | 9.15% |
| $85,924 - $150,000 | 11.16% |
| $150,001 - $220,000 | 12.16% |
| $220,001+ | 13.16% |
These rates apply to Ontario residents. The federal tax rates are different and are not included in this calculator.
How Ontario Income Tax Works
Ontario income tax is calculated using a progressive tax system, meaning higher income levels are taxed at higher rates. The taxable income is calculated after deductions and credits, and then applied to the tax brackets shown above.
The Ontario tax system also includes:
- Canada Pension Plan (CPP) contributions
- Employment Insurance (EI) premiums
- Provincial sales tax (PST) refunds
- Other provincial credits and deductions
This calculator focuses on the basic income tax calculation. For a complete tax return, you would need to consider all deductions, credits, and other provincial tax obligations.
Worked Example
Let's calculate the tax for a single filer with a taxable income of $50,000 in 2017.
- The first $42,961 is taxed at 5.05%: $42,961 × 0.0505 = $2,171.99
- The next $7,039 ($50,000 - $42,961) is taxed at 9.15%: $7,039 × 0.0915 = $642.01
- Total Ontario tax: $2,171.99 + $642.01 = $2,814.00
This is an estimate. The actual tax may vary based on deductions, credits, and other factors.
Frequently Asked Questions
What is the difference between taxable income and gross income?
Taxable income is your gross income minus eligible deductions and credits. It represents the portion of your income that is subject to income tax. Gross income includes all income received during the year, such as wages, salaries, investments, and business profits.
How do I find my taxable income?
Your taxable income is calculated by subtracting eligible deductions and credits from your gross income. Common deductions include RRSP contributions, medical expenses, and union dues. Credits can reduce your taxable income dollar-for-dollar.
Is this calculator accurate for my specific situation?
This calculator provides an estimate based on the 2017 Ontario tax rates and brackets. For exact tax calculations, consult a tax professional or use official government tax forms. The calculator does not account for all possible deductions, credits, or tax obligations.