First, you can calculate your income tax combined federal and provincial tax bill in each province and territory of Canada by entering your annual income. And then you can estimate your tax refund by entering your taxes paid, RRSP contributions and capital gains for the year 2014.
Canadian Tax Brackets 2014 – Canada Federal Personal Income Tax Brackets Below (Provincial Income Tax Rates are not included):
- 15% on the first $43,561 of taxable income
- 22% on the next $43,562 of taxable income (on the portion of taxable income between $43,562 and $87,123)
- 26%on the next $87,124 of taxable income (on the portion of taxable income between $87,124 and $135,054)
- 29% of taxable income over $135,054
RRSP Contribution Limit 2014
The maximum RRSP contribution limit for 2014 is $24,270 (comparing to the last year, 2013, $450 of RRSP limit has been increased for the year 2014) . However, if you did not use all of your RRSP contribution limit for the years 1991-2013, you can carry forward the unused amount to 2014. Therefore, your RRSP contribution limit for 2014 may be more than $24,270.
RRSP Contribution Calculator Canada
Calculate the tax savings your RRSP contribution generates in each province and territory (Ontario, Alberta, BC, Quebec, Nova Scotia, Manitoba, etc).
RRSP Deadline for 2013 Tax Year: March 03, 2014!
RRSP Contribution Calculator 2014 will estimate your RRSP tax savings based on your RRSP contribution amount and income level for the year 2013. Be sure to enter your RRSP over contribution amount, if any.
|If you reach the maximum CPP/EI in 2014, you will see an increase in the amount of your net pay. Many employees reach their maximum level of CPP EI contributions sometime during the year.|
Canadian Tax Brackets and Income Tax Rates for the Year, 2013
Both the federal and provincial governments have imposed income taxes on individuals and the federal government charges the bulk of income taxes with the provinces charging a somewhat lower percentage. Income taxes throughout Canada are progressive with the high income residents paying a higher percentage than the low income residents.
RRSP Contribution Limit 2013 & RRSP Deduction Limit for the Year 2013
How much can I contribute to my own RRSPs for the year 2013?
The maximum RRSP contribution limit 2013 is $23,820. However, if you did not use all of your RRSP contribution limit for the years 1991-2012, you can carry forward the unused amount to 2013. Therefore, your RRSP contribution limit for 2013 may be more than $23,820.
The maximum RRSP contribution limit for subsequent years is as follows:
Income Tax Calculator Canada for Your 2013 Income Tax
Calculate your 2013 income tax combined federal and provincial tax bill in each province and territory of Canada (Ontario, Alberta, BC, Quebec, Nova Scotia, Manitoba, etc). Please note that our Canadian income tax calculator 2013 doesn’t reflect the CPP and EI deductions or contributions for your 2013 income tax rates.