Easily Determine Total Taxes Payable

The Income Tax Estimator is a simple, one-page calculator that will help you quickly and accurately determine the total income, net income, taxable income, non-refundable credits, and taxes payable for either a single taxpayer or a couple. Federal GST/HST Credits and Child Tax Benefit amounts are also estimated.

CALCULATOR BENEFITS:

• Estimate tax liability for prior year adjustments or current year capital gains, bonuses, etc.
• Use both columns for one taxpayer to view a side-by-side comparison of two scenarios
• Determine whether taxpayers are subject to clawbacks for the age amount or old age security
• Estimate the tax savings from proposed RRSP contributions or charitable donations

CALCULATOR COMPONENTS AND FEATURES:

• The calculator allows input for tax years from 2004 to 2014 allowing you to quickly estimate the tax liability for
  • prior returns that have not been filed,
  • adjustments to prior filed returns,
  • the current tax year without loading income tax software, or
  • the coming year
• Print a summary report showing all relevant income, deduction, and credit lines for your client
• Determine the effects of pension income splitting with a single click of your mouse
• Save the current scenario and recall at a later time to do “what-if” scenarios

See the calculator in use here, with an example and illustrations.