Calculate the total income taxes of the Ontario residents for 2020

% marginal taxAverage % of taxPayable taxNet income after tax

Tax Breakdown

Federal tax
Marginal tax rate CanadaTaxation in CanadaAdditional amount for BPA increased (already subtracted from payable taxes)
Ontario tax
Marginal tax rate OntarioOntario tax

Ontario Surtax

Surtax for Ontario only apply for income tax over 4740$ for 1st tier and 6067$ for second tier for 2020

Ontario surtax RateSurtax Amount
Total surtax:

Employee (by an employer)

CPPEmployment Insurance benefits (EI)

Self-employed (sole proprietorship)

CPP (self-employed)Employment Insurance benefits (EI)


After-tax income, annuities and insurance

Net income employeeNet income self-employed

Estimate your 2020 whole income tax with just a couple of insights regarding your income and region. Locate your average tax rate and how much tax you should pay on any extra income.

On March 25, 2020, the Ontario government declared a multi month alleviation period for Ontario businesses that can’t file or dispatch selected provincial taxes on time in Ontario. Starting April 1, 2020, penalties and interest won’t matter to Ontario organizations that miss any filing or settlement deadline under select provincial taxes.

To boost your tax saving, you ought to deduct all your qualified fixed costs, and claim all your tax credits. This comprehensive income tax calculator consists of those most basic tax deductions and tax credits.

You can use it to distinguish how your expense findings and tax credits influence your tax saving. On the off chance that you think this comprehensive income calculator is too complex; you can try the straightforward income tax calculator.

Deadline for tax return

The tax-filing deadline was moved from April 30, 2020, to June 1, 2020. Also, all Ontario citizens presently get a penalty free extension until September 30, 2020, to pay any expenses owed for the 2019 tax year. Duties owed are expected on September 30, 2020.

What are the penalties for a late tax-filing in 2020?

Depending upon the measure of income you earn, you will be categorized as one of five government charge sections, and one of the five Ontario charge sections. The government needs every penny they are owed and they need it in great times.

Thus, there are penalties for filing a late tax return on the off chance that you have an unpaid tax balance. In the event that you are getting a refund or your tax balance is zero, there will be no penalties for sending in your arrival after the deadline date.

An instant penalty of 5% on your expense balance owing in addition to 1% of your parity owing every month for as long as a year is collected by the CRA.

This online exhaustive income expense calculator gives an approximation of the measure of your tax owned or repayment. This estimate depends exclusively on the data given by you at some random time.

At the point when you file your income expense, the CRA will utilize the data from your tax return and that of your companion or custom-based law accomplice to compute a genuine amount.

Table of amounts and thresholds 2020

For the Provincial, Ontario
Amount type or threshold Amount
Basic Personal MBP Amount or Credits $ 10 783
Ontario tax threshold (provincial) $ 10 783
Amount type or threshold Amount
Basic Personal BPA Amount in Canada $ 12 298
Tax threshold in Canada (federal) $ 12 298
Tax threshold in Canada (federal) increased $ 13 229

Table of provincial tax brackets rates in Ontario for 2020

Gross taxable income brackets Ontario Marginal tax rates
10 783$ or less 0%
10 783,01$ to 44 740$ 5.05%
44 740.01$ to 89 482$ 9.15%
89 482.01$ to 150 000$ 11.16%
150 000,01$ to 220 000$ 12.16%
220 000,01$ or more 13.16%

For more information about Ontario tax rates brackets, visit the CRA Canada website.

Table of federal tax brackets and rates for 2020

Taxable Gross Tax Rates Marginal Tax Rates
12 298$ or less 0%
12 298$ to 48 535$ 15%
48 535,01$ to 97 069$ 20.50%
97 069,01$ to 150 473$ 26%
150 473,01$ to 214 368$ 29%
214 368,01$ or more 33%

For more information about tax rates in Canada, Visit the Canada Revenue Agency.

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