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Get a quick, free estimate of your 2023 income tax refund or taxes owed using our income tax calculator. Plus, explore Canadian and provincial income tax FAQ and resources from TurboTax.
Calculate your Income Tax quickly and easily. Use our simple 2023 income tax calculator to get an idea of what your return will look like this year. Get a rough estimate of how much you’ll get back or what you’ll owe.
- Filing your taxes on time ensures you receive every credit and deduction you’re owed.If you’re owed money, not filing a return means you could be m...
- The deadline to file your 2022 income tax return is May 1st, 2023, since April 30th falls on a Sunday. If you’re self-employed your taxes are due o...
- It can take 2 to 3 weeks to receive a refund when you transmit your return via NETFILE. For mailed returns, refunds are mailed out in 4 to 6 weeks...
- If you’re a resident of Canada for any part of the year and are earning income, whether that’s employment, self-employment, investment, or other in...
- The CRA requires that you retain your records for a minimum of 6 years, by law. You can ask to amend your tax return for up to the previous 10 year...
- Income is considered all earnings for the year, from a part-time or contract job to self-employed income.
- Your employer(s) will send you a T4 slip which outlines your earnings for the year.If you worked several different jobs, you would receive a T4 fr...
- Registered Retirement Savings Plans (RRSPs) are a great way to save money for retirement and reduce your taxes. Learn more about how they work, by...
- You have a capital gain or loss when you sell or are considered to have sold capital property. Learn more about capital gains & losses, by checking...
Sep 20, 2024 · TaxTips.ca - 2023 Canadian income tax and RRSP savings calculator - - calculates taxes, shows RRSP savings, includes most deductions and tax credits.
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Use the Payroll Deductions Online Calculator (PDOC) to calculate federal, provincial (except for Quebec), and territorial payroll deductions. It will confirm the deductions you include on your official statement of earnings.
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The Quebec provincial government administers its provincial income tax, Quebec Pension Plan (QPP), and Quebec Parental Insurance Plan (QPIP). To calculate provincial payroll deductions for Quebec, use the WebRAS program from Revenu Quebec.
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•As per Canada Pension Plan Regulations Subsection 5.1 (1), for the year 2024 and each subsequent year, pensionable earnings between the Year’s Maximum Pensionable Earnings (YMPE) and a second earnings ceiling, referred to as the Year’s Additional Maximum Pensionable Earnings (YAMPE), are subject to second additional CPP (CPP2) contributions. The formulas to calculate the contributions and the tax deductions have been added to the calculator.
•The result page has been updated to display the CPP2/QPP2 contributions and deductions for CPP/QPP additional contributions.
•For the salary stream, the result page has been updated to display the taxable income for the pay period.
•The ‘’Verify CPP contributions and EI premiums for 2023’’ stream, now includes the field for ‘’Number of pensionable months’’ to help the users to verify CPP contributions and pensionable earnings for employees having less than 12 pensionable months.
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•T4127, Payroll Deductions Formulas
•T4001, Employers' Guide – Payroll Deductions and Remittances
•Automobile Benefits Online Calculator (ABOC)
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2023 Personal tax calculator. Calculate your combined federal and provincial tax bill in each province and territory. The calculator reflects known rates as of June 1, 2023.
The free online 2023 Income Tax Calculator for Canada. Learn how to estimate your income tax with easy steps focusing on taxable income and understanding the results.
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Free income tax calculator to estimate quickly your 2023 and 2024 income taxes for all Canadian provinces. Find out your tax brackets and how much Federal and Provincial taxes you will pay.
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Ensure tax compliance with our complete, accurate year-end filing tool. Save time with our efficient, all-in-one tax form management system.
