Tax Calculator Ontario 2020

Calculate your Ontario income tax for 2020 using this official tax calculator. This tool provides an estimate of your tax liability, tax credits, and net income based on the 2020 tax rates and brackets.

How to Use This Calculator

To calculate your Ontario income tax for 2020:

Enter your total taxable income for 2020 in the "Taxable Income" field.
Select your filing status (Single, Married, or Other).
Click the "Calculate" button to see your estimated tax liability, tax credits, and net income.

The calculator uses the official 2020 Ontario tax rates and brackets. For a more precise calculation, consult with a tax professional or use official government tax forms.

Ontario Tax Formula

The Ontario income tax is calculated using progressive tax brackets. The formula for calculating Ontario income tax is:

Ontario Income Tax = Sum of (Taxable Income × Tax Rate) for each applicable bracket

Where the taxable income is calculated as:

Taxable Income = Total Income - Deductions - Tax Credits

The Ontario tax system includes various deductions and credits that can reduce your taxable income. Common deductions include RRSP contributions, medical expenses, and union dues. Common tax credits include the basic personal amount, the Ontario child benefit, and the Ontario disability tax credit.

Ontario Tax Brackets for 2020

The Ontario tax brackets for 2020 are as follows:

Taxable Income	Tax Rate
$0 - $44,701	5.05%
$44,702 - $89,404	9.15%
$89,405 - $150,000	11.16%
$150,001 - $220,000	12.16%
$220,001+	13.16%

These rates apply to individuals and families with taxable income within the specified ranges. The rates are progressive, meaning higher income levels are taxed at higher rates.

Example Calculation

Let's calculate the Ontario income tax for a single individual with a taxable income of $60,000 in 2020.

The first $44,701 is taxed at 5.05%: $44,701 × 0.0505 = $2,267.30
The next $15,299 ($60,000 - $44,701) is taxed at 9.15%: $15,299 × 0.0915 = $1,400.61
Total Ontario income tax: $2,267.30 + $1,400.61 = $3,667.91

This example shows that the individual would owe approximately $3,668 in Ontario income tax for 2020.

Frequently Asked Questions

What is the Ontario basic personal amount for 2020?

The Ontario basic personal amount for 2020 is $11,474 for single individuals and $22,948 for married couples.

How do I claim the Ontario child benefit?

To claim the Ontario child benefit, you must file your income tax return and provide the required documentation, such as birth certificates and medical records for children under 18.

What is the Ontario disability tax credit?

The Ontario disability tax credit is a non-refundable credit that provides tax relief to individuals with disabilities. The amount of the credit depends on the severity of the disability and the individual's income.