We recommend you consult your investment professional or tax advisor for a comprehensive review of your personal tax situation. Your personal tax situation may have additional complexities that cannot be factored in by this tax calculator. The calculator is intended to estimate your taxes only. It is assumed that the full amount of donations, subject to the 75% net income limitation, is used to calculate the donation tax credit, although that may not be the optimal tax reduction strategy in all circumstances.It is also assumed that taxable income for provincial purposes is the same as federal. You may be entitled to other tax deductions and credits. The calculator will show your tax savings based on the specified RRSP contribution amount.Īll federal and provincial taxes and surtaxes are taken into account, however the calculator assumes that only the basic personal tax credit, as well as the dividend tax credit and Canada employment amount (if applicable) are available. Fidelity's tax calculator allows you to estimate your year end tax balance based on your employment income, investment income, RRSP contributions, charitable donations, and the amount of taxes paid.
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