Tax Calculator
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Taxable Post-Change Below Threshold: 0.00
Taxable Post-Change Above Threshold: 0.00
Total Taxable Post-Change: 0.00
FEDERAL TAX CALCULATION
| Bracket | Min ($) | Max ($) | Rate (%) | Taxable Amount ($) | Tax for Bracket ($) |
|---|---|---|---|---|---|
| 1 | 0.00 | 55,867.00 | 15.00 | 0.00 | 0.00 |
Total Federal Tax: $0.00
Marginal Tax Rate: 0.00%
FEDERAL BASIC PERSONAL AMOUNT| Calculation Step | Details |
|---|---|
| Federal BPA Calculation | Your taxable income of $0 is below the phase-out start of $173,206. The full additional BPA of $1,549 applies. |
| Total Federal BPA | The total federal BPA is the minimum BPA ($14,156) plus the adjusted additional BPA ($1,549), resulting in $15,705. |
| Credit Type | Amount ($) |
|---|---|
| Federal Basic Personal Amount | 15,705.00 |
| Employment Insurance (EI) | 0.00 |
| CPP on Employment Earnings | 0.00 |
| 50% of CPP on Self-Employment Earnings | 0.00 |
| Canada Employment Credit Amount | 1,433.00 |
| Total Non-Refundable Credits | 17,138.00 |
| Description | Amount ($) |
|---|---|
| Gross Federal Tax Liability | 0.00 |
| Federal Non-Refundable Tax Credits Value (15%) | 2,570.70 |
| Net Federal Tax (Before Dividend Tax Credits) | -2,570.70 |
| Dividend Type | Original Amount ($) | Gross-Up Rate (%) | Grossed-Up Amount ($) | Tax Credit Rate (%) | Tax Credit ($) |
|---|---|---|---|---|---|
| Eligible Dividends | 0.00 | 38.00 | 0.00 | 15.02 | 0.00 |
| Ineligible Dividends | 0.00 | 15.00 | 0.00 | 9.03 | 0.00 |
| Total Federal Dividend Tax Credits | 0.00 | ||||
Net Federal Tax After Dividend Tax Credits (zero if negative) $0.00
QUEBEC MULTIPLIER ADJUSTMENT| Description | Amount ($) |
|---|---|
| Net Federal Tax After Dividend Tax Credits | 0.00 |
| Total Payable Federal Tax (Negative = Refundable) | 0.00 |
| Bracket | Min ($) | Max ($) | Rate (%) | Taxable Amount ($) | Tax for Bracket ($) |
|---|---|---|---|---|---|
| 1 | 0.00 | 51,446.00 | 5.05 | 0.00 | 0.00 |
Total Provincial Tax: $0.00
Provincial Marginal Tax Rate: 0.00%
PROVINCIAL BASIC PERSONAL AMOUNT| Calculation Step | Details |
|---|---|
| Provincial Basic Personal Amount | The provincial basic personal amount is based on the provincial tax exemption value. The amount is $12,399. |
Provincial Non-Refundable Tax Credits (Debug View)
| Credit Type | Amount ($) |
|---|---|
| Provincial Basic Personal Amount | 12,399.00 |
| EI Premiums | 0.00 |
| CPP Premium on Employment Earnings | 0.00 |
| CPP Premium on Self-Employment (50%) | 0.00 |
| Total Provincial Non-Refundable Credits | 12,399.00 |
APPLY PROVINCIAL NON-REFUNDABLE TAX CREDITS
| Description | Amount ($) |
|---|---|
| Gross Provincial Tax Liability | 0.00 |
| Provincial Non-Refundable Tax Credits Value (5.05%) | 626.15 |
| Net Provincial Tax (Before Dividend Tax Credits) | -626.15 |
Provincial Surtax Calculation (Debug)
Province: on, Tax Year: 2024
Net Provincial Tax (Before Dividend Credits): $-626.15
Calculated Surtax: $0.00
Provincial Tax After Surtax: $-626.15
PROVINCIAL DIVIDEND TAX CREDITS| Dividend Type | Original Amount ($) | Gross-Up Rate (%) | Grossed-Up Amount ($) | Tax Credit Rate (%) | Provincial Tax Credit ($) |
|---|---|---|---|---|---|
| Eligible Dividends | 0.00 | 38.00 | 0.00 | 10.00 | 0.00 |
| Ineligible Dividends | 0.00 | 15.00 | 0.00 | 2.99 | 0.00 |
| Total Provincial Dividend Tax Credits | 0.00 | ||||
Net Provincial Tax After Dividend Tax Credits (zero if negative) $0.00
Provincial or Territorial Tax (zero if negative): $0.00
| Taxable Income | Actual Income | Tax Base |
|---|---|---|
| Employment Income (+) | $0 | $0 |
| Self-Employment Income (+) | $0 | $0 |
| Capital Gains (+) | $0 | $0 |
| Eligible Dividends (+) | $0 | $0 |
| Ineligible Dividends (+) | $0 | $0 |
| Other Income (+) | $0 | $0 |
| Total Income | $0 | $0 |
| Results | Annually | |
|---|---|---|
| Employment Income | $0 | |
| Self-Employment Income | $0 | |
| Capital Gains | N/A | $0 |
| Eligible Dividends | N/A | $0 |
| Ineligible Dividends | N/A | $0 |
| Other Income | N/A | $0 |
| CPP Premium (+) |
$0 |
|
| Employment Insurance (EI) Premiums (+) | $0 | |
| Ontario Health Premium (OHP) (+) | $0 | |
| Total Insurance Premiums (EI + QPIP) | $0 |
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– Robert Jonson
Wealth Management Covers All Aspects Of Your Plan
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