Fema Employment
I need help finding out how much i will get or pay on my tax return?
just want to know how much my tax return will be or if i have to pay. My employment income was $34.400 and i paid $4960 in federal income tax. I live in London, ON Canada and I have no rssp of any such. just need a ballpark estimate. I tried using an online return calculator but couldn't get a number. any help would be greatly appreciated. thank you
Public Comments
- To calculate your income taxes owing you have to find out what your taxable income is. Your taxable income consists of your employent income plus other types of income such as interest, dividends, capital gains, etc. minus deductions such as rrsp contributions, etc. You also have to calculate your tax credits to offset your tax owing. Good luck The tax rate on the first $38,832 of taxable income in Canada is 15%. When you are done with all that you still have to figure out how much you owe Ontario.
