Canadian Financial & Income Tax Calculators
Detailed Canadian Tax Calculator for all provinces and territories:
- Now includes capital gains deduction
Personal and Sales Taxes, Taxes on Property
Life in the Tax Lane August 2025
Topics in this month’s fast-paced 10-minute video for Canadian Tax and Financial Professionals (but useful for everyone!):
– Canada Carbon Rebate for Small Businesses
– Fees for Services – CRA Administrative Policy
– Dining, Recreation, and Sporting NPOs – Sale of Partially Used Property
– Personal Use of Corporate Vehicles
– Rental Losses
– Tax Update 2025
See comparisons of taxes payable in each province & territory for different levels of income from:
– Employment
– Canadian dividends vs interest, and
– Seniors: Canadian eligible dividends vs other investment income
Where does your province stand in the rankings? Are you being overtaxed?
Top 2025 Marginal Tax Rates in Canada
See the top rates for each province & territory for Canadian eligible & non-eligible dividends and other income, as well as the average tax rates for $100k of other income and $100k of employment income.
Up to 1/2 of eligible pension income may be allocated to a taxpayer’s spouse on the tax return. This may result in a pension tax credit for the spouse. Eligible pension income includes several kinds of income, but not CPP or QPP, OAS, retiring allowances or RRSP withdrawals (except annuity payments).
Business / Employers / Employees / Self-Employed
Canada Carbon Rebate for Small Businesses – Not Taxable
Draft legislation was released on June 30, 2025, to ensure that the rebate would be tax-free. These rebates were received for the 2019-20 to 2023-24 fuel charge years. The final payment is for the 2024-25 fuel charge year. Information on tax return amendments for prior years will be available once the legislation receives Royal Assent.
Capital Gains Deduction and the Tax Return
In order to claim this deduction for the Lifetime Capital Gains Exemption (LCGE), Forms T657 and T936 (Cumulative Net Investment Loss) must be completed, each of which may require decades of financial data, depending on the taxpayer.
Source: Taxtips.ca