iCalculator™ CA: Ontario Tax Calculators

Welcome to iCalculator™ CA, your comprehensive suite of free tax calculators for Ontario. iCalculator™ has provided free tax calculators for Ontario since 2014. Since those early days we have extended our resources for Ontario to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Ontario Tax Calculator and salary calculators within our Ontario tax section are based on the latest tax rates published by the Tax Administration in Ontario. In this dedicated Tax Portal for Ontario you can access:

Ontario Tax Calculator 2024/25

The Ontario Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Ontario. This includes calculations for

1. Employees in Ontario to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Ontario.

Discover Ontario, Canada

Ontario, the most populous province in Canada, is located in the east-central part of the country. It is bordered by the province of Quebec to the east, Manitoba to the west, and the U.S. states of Michigan, Minnesota, Ohio, Pennsylvania, and New York to the south. Ontario's southern boundary is defined by the Great Lakes, providing it with a strategic advantage in terms of trade and transport. The province's diverse landscape ranges from the fertile farmlands of the south to the mineral-rich Canadian Shield in the north, and the stunning Niagara Falls, a symbol of natural beauty and power.

Ontario's economy is the largest in Canada, boasting a vibrant and diverse industrial sector. The province is a manufacturing powerhouse, particularly in the automotive and aerospace industries. Ontario's strong manufacturing base is supported by its rich natural resources, including timber and minerals, which play a significant role in the economy. Additionally, the province is a leader in finance and banking, with Toronto, the provincial capital, serving as the financial heart of Canada. The Toronto Stock Exchange is one of the world's largest, and the city is home to numerous national and international banks and financial institutions.

Technology and innovation are also key drivers of Ontario's economy. The province has established itself as a hub for research and development, particularly in the fields of information technology, biotechnology, and green energy. This innovative spirit is supported by Ontario's world-class universities and research institutions, which collaborate closely with industry. Furthermore, Ontario's economy benefits from a robust agricultural sector, with the province being one of Canada's leading producers of fruits, vegetables, and dairy products.

Culturally, Ontario is incredibly diverse, with a rich tapestry of cultures, languages, and traditions. The province's cultural scene is vibrant, with numerous festivals, museums, theaters, and art galleries showcasing its rich heritage and contemporary artistic expressions. Ontario's diversity is not only a source of cultural richness but also contributes to its economic strength, making it a dynamic and integral part of Canada's national identity.

Overview of Taxation in Ontario, Canada

In Ontario, the taxation system is a blend of federal and provincial taxes, each playing a crucial role in the province's economic framework. This section on iCalculator™ CA is devoted to exploring the provincial taxes specific to Ontario, aiming to provide residents and businesses with a thorough understanding of the various types of provincial taxes, their application, and the compliance requirements in the province.

Provincial Income Tax

Ontario levies a provincial income tax on its residents, an essential component of the provincial tax structure. This tax is applied to different forms of income, including employment, business income, and investment earnings. For residents of Ontario, understanding the specifics of provincial income tax is crucial for ensuring accurate and compliant tax filings.

Provincial Sales Tax (PST)

In addition to the federal Goods and Services Tax (GST), Ontario has harmonized its Provincial Sales Tax (PST) with the GST to form the Harmonized Sales Tax (HST). This combined tax affects a wide range of goods and services within the province. Understanding the HST is important for both consumers and businesses, as it influences financial transactions and planning.

Corporate Tax

Corporate tax is also a key component of the tax system in Ontario. This tax is imposed on the profits of corporations operating within the province. It is important for businesses to be aware of and comply with corporate tax regulations to contribute responsibly to Ontario's economy and to avoid potential penalties.

Other Provincial Taxes and Levies

Besides these primary tax types, Ontario administers various other taxes and levies, such as environmental levies, fuel taxes, and property taxes. These taxes are designed to fund specific public services and initiatives, contributing to the province's infrastructure and community development.

Compliance with provincial tax laws is a crucial responsibility for both individuals and businesses in Ontario. The province offers resources and support to help taxpayers understand their obligations and ensure they fulfill their tax responsibilities accurately and on time. For information on federal tax obligations, additional resources and tools are available on iCalculator™ CA: Ontario.