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Financial Calculators & Tools

RRSP Planner

Optimize your retirement savings and immediate tax deduction.

RESP Estimator

Calculate tax-free growth potential within contribution limits.

Mortgage Calculator

Determine how much house you can afford based on income.

Tax Savings Estimator

Estimate the impact of credits, deductions, and expenses.

Debt Payoff Planner

Plan repayment strategies and calculate interest savings.

Finance Blog

Stay updated with the latest personal finance tips.

Tax Refund Predictor

Estimate your 2025 or 2026 refund with our CRA-style simulator.

Cost of Living

Compare living costs between Canadian cities.

Salary Explorer

Search salary ranges for thousands of jobs in Canada.

NEW

Expense Tracker

Track income & expenses for tax season. Free with cloud sync.

Your Tax Return in 3 Simple Steps

1. Select Status

Choose Employed (T4) or Self-Employed to load the right deductions.

2. Enter Income

Input your gross annual earnings. We'll handle the federal & provincial math.

3. See Results

Instantly view your take-home pay, tax bracket, and CPP/EI contributions.

Why Canadians Trust MTC

We built MTC because tax tools shouldn't be complicated or invasive. We believe in privacy-first financial planning.

100% Private

Your data never leaves your browser. No servers, no tracking.

Instant Results

Real-time calculations as you type. No loading screens.

Always Up-to-Date

We update our algorithms immediately when the CRA announces changes.

Tax & Financial Insights

Quick guides to help you navigate the 2026 Canadian tax season with confidence.

View All Guides

Master Guide

The 2026 Canadian Tax Playbook

From progressive tax brackets to the latest CRA inflation adjustments, our master guide breaks down exactly how your money is taxed and how to legally minimize your bill using RRSPs, TFSAs, and the new First Home Savings Account (FHSA).

Start Reading

RRSP vs. TFSA: The 2026 Verdict

Deciding where to stash your cash depends on your current tax bracket. Our data shows that high earners benefit most from immediate RRSP deductions.

Learn the math

Mortgage Stress Tests

Qualifying for a home in 2026 requires passing the OSFI stress test.

Read Guide

Business Deductions

Stop overpaying. Learn which home office and vehicle expenses are 100% deductible for self-employed Canadians.

Capital Gains Tax Changes

New 2026 rules affect investors. Understand the inclusion rate and plan your investment strategy.

Explore Now

Frequently Asked Questions

How accurate is this income tax calculator?

This calculator provides a close estimate of your real after-tax income using the most recent 2025 and 2026 federal and provincial progressive tax brackets (5 brackets), CPP, CPP2, and EI. It’s ideal for pay or budget planning but does not include individual tax credits, RRSP deductions, or unique personal credits (like dependents or tuition amounts). For complete accuracy, compare results to your official pay stub or consult the Canada Revenue Agency (CRA).

How does this calculator handle CPP, EI, and other deductions?

All mandatory payroll premiums are built in — including Canada Pension Plan (CPP) and Employment Insurance (EI) contributions. The calculator automatically applies the current yearly maximums and rates for 2025 and 2026, giving you a realistic snapshot of what’s withheld from your paycheque. These contributions fund retirement, disability, and unemployment benefits, and are updated annually to reflect new CRA thresholds.

Why do my results differ from my actual pay?

Minor differences happen because real pay depends on province-specific credits, RRSPs, union dues, or benefits your employer deducts at source. The tool uses average provincial rates and non-refundable tax credits to simplify your estimate — the same method leading calculators like Wealthsimple or UFile use. That means your displayed net income and take-home pay are realistic, just not exact.

Can I use this calculator to plan my salary or job change?

Yes! This tool is perfect for comparing job offers or salary changes across any Canadian province or territory. By instantly adjusting income, location, and deductions, you can see how much you’ll actually take home after taxes, CPP, and EI. It helps you make better financial decisions when negotiating a new role, budgeting for relocation, or estimating the effect of a raise.

Does this tool calculate tax refunds or amounts owed?

It provides a realistic estimate of your refund or taxes payable based on your total annual income, federal and provincial tax brackets, and mandatory contributions. While it’s not a substitute for official filing software, the results closely mirror CRA calculations using Basic Personal Amount credits and 2025 or 2026 tax rates. We now include the Basic Personal Amount credit for more accurate calculations. This makes it ideal for early tax refund planning or checking if your withholding aligns with your true tax liability.

Free Canadian Income Tax Calculator 2025 & 2026 - Calculate Your Take-Home Pay

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