What will your federal tax be?

To work out how much your federal tax is, you must know what your taxable income is. If you haven't worked this out yet, or want to keep it private, imagine you were working for the minimum wage for 40 hours a week. Use these numbers to work out your federal tax.

The minimum wage in Ontario is $6.85 an hour.

You work 40 hours a week, so multiply that by 40. (Use your calculator if you want to.)
      $6.85 x 40 = $274.00

If you work 52 weeks how much will you earn?
      $274.00 x 52 = $14, 248.00

(To keep it simple, we haven't included any vacation or holiday pay. We haven't allowed you any deductions either.)

Enter your taxable income on line 1 of our simplified Schedule 1. (In the top right hand corner.)

Work out what your tax will be if your taxable income is $14,248.
      Find 16% of $14,287.
      $14,287 x .16 = $2,279.68

Enter this amount on line 8 of Schedule 1. (The first line 8 under line 1.)