Here are some financial calculators that will guide you in some of your financial planning decisions.
Each year Ernst & Young Accountants provides a variety of tax calculators on their website.
These tools include:
- Personal Tax Calculator – Caculate your combined federal and provincial tax bill in each province and territory
- RRSP Calculator – calculate the tax savings your RRSP contribution generates
- Canadian Corporate Tax Rates
- Provincial Corporate Tax Rates for Active Business Income
- Canadian Personal Tax Rates
Retirement Income Calculator
As Financial Advisors, Adam and I are always asked by clients about how much income they will need in retirement.
Empire Life has created a very useful and easy to use Retirement Income Calculator which we have posted to the website. The link will bring you to the site and allow you to enter the information needed to show whether you are ahead or behind your target goals.
Take a few minutes to work with the calculator and see for yourself how easy it is to use
As always if you have any questions or concerns please do not hesitate to reach out to me via email or phone.
InsureRight is a tool that will guide you through the steps of determining the right amount of Life Insurance, Disability or Critical Illness
For quick insurance rate calculations, visit Manulife Rates to Go
TIPS online is the Canadian government’s website (CCRA) that allows Canadians to access their Personal tax information.
Among other things, you can get information specific to you about:
- Total RRSP deduction limit & any undeducted contributions available to you.
- The status of your Tax Refund.
Use this site when deciding how much to contribute to an RRSP this year.