Tax Calculator 2019 Ontario
Use this tax calculator to estimate your 2019 Ontario income tax liability. The calculator provides an estimate based on your taxable income, tax credits, and deductions. For precise tax calculations, consult a tax professional or use official government tax forms.
How to Use This Calculator
To calculate your 2019 Ontario income tax:
- Enter your total taxable income for the year.
- Select your filing status (Single, Married, or Other).
- Enter any applicable tax credits or deductions.
- Click "Calculate" to see your estimated tax liability.
The calculator will display your estimated tax payable, net income after tax, and a breakdown of your tax liability.
Tax Calculation Formula
The Ontario tax calculation follows progressive tax brackets. The formula used is:
Tax Payable = (Taxable Income × Tax Rate) - Tax Credits + Deductions
The tax rates for 2019 Ontario are as follows:
| Taxable Income | Tax Rate |
|---|---|
| $0 - $44,703 | 5.05% |
| $44,704 - $89,407 | 9.15% |
| $89,408 - $150,000 | 11.16% |
| $150,001 - $220,000 | 12.16% |
| Over $220,000 | 13.16% |
Note: This calculator uses estimated rates. For precise tax calculations, refer to the official Ontario government tax tables.
Worked Example
Let's calculate the tax for a single filer with $60,000 taxable income and no additional credits or deductions.
- First $44,703 at 5.05%: $44,703 × 0.0505 = $2,264.47
- Next $15,297 ($60,000 - $44,703) at 9.15%: $15,297 × 0.0915 = $1,402.53
- Total tax payable: $2,264.47 + $1,402.53 = $3,667.00
- Net income: $60,000 - $3,667.00 = $56,333.00
Using the calculator with these inputs would show similar results.
Frequently Asked Questions
- Is this calculator accurate for my 2019 Ontario taxes?
- This calculator provides an estimate based on standard tax brackets. For precise tax calculations, consult a tax professional or use official government tax forms.
- What tax credits should I include?
- Common tax credits include the Basic Personal Amount, Ontario Child Benefit, and other provincial credits. Enter these amounts in the calculator if applicable.
- How do I calculate my taxable income?
- Subtract eligible deductions from your total income to determine your taxable income. Common deductions include RRSP contributions and medical expenses.
- Can I use this calculator for self-employed income?
- Yes, you can enter your self-employed income in the taxable income field. However, you may need to adjust for self-employment tax deductions separately.
- Where can I find official tax rates?
- For official tax rates and forms, visit the Canada Revenue Agency website.