Tax Tools & Other Gadets
Below, you will find various tools that may help you get an estimate for a number of financial calculations. We can't stress enough that these calculators do not take in a number of factors and are only here to give you an idea of your current situation. So before you receive what may be the shock of your life, please see a professional before you quote any of these results as "the truth."
Income Tax Calculator
You can use this calculator to give you a "quick and dirty" estimate of the tax you will have to pay and the amount of income that you will retain according to different provinces and tax levels. Thanks to DT Max, the makers of U-file for providing this tool.
Basic CPP Calculator
See what would happen if you took out your CPP early, before age 65, at age 65 or later, at age 70. This calculator compares the amount of CPP you would receive at each age as if you were that old today.
CPP Retirement Pension Calculator
This is a great calculator to figure out how much you will receive from your CPP when you are at the age you decide to start receiving your pension. It includes the amount of the CPP payments that you have accumulated from when you will have started to receive it as well as calculating the effect of inflation on your pension. You can see where, how, when and why you break even as a result of the date you decide to take your pension. Thanks to Tax Tips for this calculator.
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