Canadian Income Tax Software-TaxChopper Canadian Online Tax Software
space image
Space image
Space image Space imageHome Page
Space image
Space image Space imageWhy Tax Chopper
Space image
Space image Space imageSupported Forms
Space image
Space image Space imageDemonstrations
Space image
Space image Space imageYour Privacy
Space image
Space image Space imagePrice
Space image
Space image Space imageThe Steps
Space image
Space image
Space image
Space image Start or Continue
Your Taxes Here
Space image Arrow image
Space image
Space image Space imageFAQ
Space image
Space image Space imageWhat's New
Space image
Space image Space imageTestimonials
Space image
Space image Space imageCustomer Support
Space image
Space image Space image T1 EFile >>
Space image
Space image Space image Corporation T2 >>

The Crazy Part of Ontario Tax Calculation

  1. Tax reductions will double your marginal provincial tax and credit rate;

  2. One child can bring you as low as zero, as much as $12,231.40 tax exempt income in 2008;

  3. The eligibility of tax reductions depends on your taxes, not your income;

  4. One dollar of provincial non-refundable tax credits like tuition credits from yourself or a child can worth as low as 0, as high as 18.88 cents, even though it looks like they are 6.05 cents for everyone;

  5. If you have to pay minimum taxes, certain federal credits claim (like tuition fee transferred from child, political contributions etc) will actually increase your provincial taxes.

  6. People with low income can still have a high marginal tax rate; a lucky persons can have a 92.82% marginal tax rate;

  7. When one of the luckiest taxpayers (with moderate income) has earned extra $200.00 from overtime work, he/she is actaully losing money, because the extra taxes plus credits / benefits losses are more than $200.

CuteTax Inc., 2002 - 2022, all rights reserved. About Us