Tax Rate Calculator Ontario 2015

This tax rate calculator helps you determine your Ontario income tax liability for the 2015 tax year. It accounts for both federal and provincial tax rates, providing a complete picture of your tax obligations.

How Ontario Income Tax Works in 2015

Ontario income tax is a progressive tax system that applies different rates to different income brackets. In 2015, Ontario residents were subject to both federal and provincial taxes. The federal government handled basic income tax, while Ontario added its own provincial tax on top of that.

Key Points:

Ontario income tax is progressive, meaning higher income brackets pay higher tax rates
Taxes are calculated on taxable income, which is your total income minus deductions
Ontario added its provincial tax on top of federal tax
Tax rates were adjusted annually based on government budgets

The Ontario government sets its own tax rates, which are applied to taxable income after federal taxes have been calculated. This means your total tax liability is the sum of federal and provincial taxes.

Ontario Tax Brackets 2015

For the 2015 tax year, Ontario used the following tax brackets for its provincial tax:

Taxable Income	Ontario Tax Rate
$0 - $41,907	5.05%
$41,908 - $83,810	9.15%
$83,811 - $104,271	11.16%
$104,272 - $208,541	12.16%
$208,542+	13.16%

The federal tax rates for 2015 were:

Taxable Income	Federal Tax Rate
$0 - $45,282	15%
$45,283 - $90,563	20.5%
$90,564 - $140,388	26%
$140,389 - $200,000	29%
$200,001+	33%

Total Tax Calculation:

Total Tax = Federal Tax + Ontario Tax

Effective Tax Rate = (Total Tax / Taxable Income) × 100%

Worked Examples

Example 1: Low Income Earner

For a taxable income of $30,000:

Federal tax: $30,000 × 15% = $4,500
Ontario tax: $30,000 × 5.05% = $1,515
Total tax: $4,500 + $1,515 = $6,015
Effective tax rate: ($6,015 / $30,000) × 100% = 20.05%

Example 2: Middle Income Earner

For a taxable income of $80,000:

Federal tax: ($45,282 × 15%) + ($34,718 × 20.5%) = $6,792.30 + $7,129.79 = $13,922.09
Ontario tax: ($41,907 × 5.05%) + ($38,093 × 9.15%) = $2,106.89 + $3,483.97 = $5,590.86
Total tax: $13,922.09 + $5,590.86 = $19,512.95
Effective tax rate: ($19,512.95 / $80,000) × 100% = 24.39%

Example 3: High Income Earner

For a taxable income of $250,000:

Federal tax: ($45,282 × 15%) + ($45,281 × 20.5%) + ($49,825 × 26%) + ($59,512 × 29%) = $6,792.30 + $9,300.05 + $13,000.50 + $17,255.14 = $46,348.00
Ontario tax: ($41,907 × 5.05%) + ($41,903 × 9.15%) + ($20,461 × 11.16%) + ($146,739 × 12.16%) = $2,106.89 + $3,831.94 + $2,284.77 + $17,846.36 = $26,070.96
Total tax: $46,348.00 + $26,070.96 = $72,418.96
Effective tax rate: ($72,418.96 / $250,000) × 100% = 28.97%

Frequently Asked Questions

What was the Ontario tax rate for the 2015 tax year?

In 2015, Ontario had progressive tax rates ranging from 5.05% to 13.16% depending on your taxable income bracket. The highest rate applied to income over $208,542.

How does Ontario income tax compare to federal tax?

Ontario added its provincial tax on top of federal tax. The federal rates were higher in the top brackets (33% vs 13.16% for the highest Ontario rate). The total effective tax rate depends on your income level.

Was there any Ontario tax credit or deduction in 2015?

Yes, Ontario offered various tax credits and deductions in 2015, such as the Ontario Child Benefit, Home Buyers' Plan, and Medical Expense Tax Credit. These could reduce your taxable income.

How accurate is this tax rate calculator?

This calculator uses the official 2015 tax rates and brackets. However, it doesn't account for all possible deductions and credits. For precise tax calculations, consult a tax professional or use official government tax software.