Q:

What is an Ontario tax calculator?

A:

Quick Answer

Tax calculators are online tools used to determine the amount of taxes a citizen pays in a tax year, and the size of the tax return they receive, according to Simple Tax. An Ontario tax calculator is used to calculate the provincial taxes of Ontario residents.

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Full Answer

A variety of tax calculators are available online that offer both current and historical tax rates, according to Calculators Canada. These tools can be used to double check past tax payments and to determine trends or patterns in taxation for the purpose of statistical analysis. Some calculators, such as those offered by Ernst and Young, provide comparative charts to show the different tax rates in each province.

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