Hong Life CalculatorsHow the refund is estimated
- Total income = employment income + other income.
- Subtract RRSP/FHSA deductions and the enhanced CPP and CPP2 contributions (these are deductions, not credits).
- Apply the 2026 federal brackets (14%, 20.5%, 26%, 29%, 33%) and your province’s brackets.
- Subtract non-refundable credits at the lowest rate: basic personal amount ($16,452 federal), base CPP (4.95% part), EI premiums and the Canada employment amount ($1,501).
- Add provincial extras where they apply (Ontario surtax and Health Premium, Ontario and B.C. tax reductions).
- Refund = tax deducted − tax payable. A negative result is a balance owing, due April 30, 2027.
Default example (Ontario, $65,000 T4, $3,000 RRSP, $9,500 deducted): taxable income ≈ $61,385; federal tax ≈ $5,692; Ontario tax ≈ $2,544 + $600 Health Premium; total ≈ $8,836 → refund ≈ $664.
| 2026 federal bracket | Rate |
|---|---|
| up to $58,523 | 14% |
| $58,523 – $117,045 | 20.5% |
| $117,045 – $181,440 | 26% |
| $181,440 – $258,482 | 29% |
| over $258,482 | 33% |
FAQ
Why do I get a tax refund?
Because your employer deducted more tax during the year than you owe — often because of RRSP contributions, credits or a job change. The refund returns the difference.
When is the 2026 tax return due?
April 30, 2027 for most people (June 15, 2027 if you or your spouse are self-employed, but any balance is still due April 30).
Why is Quebec not included?
Quebec residents file a separate provincial return with Revenu Québec and receive a 16.5% federal abatement, so the calculation is different.
Sources (checked Nov 10, 2026): CRA, “Tax rates and income brackets for individuals – 2026”; CRA T4127 Payroll Deductions Formulas, 122nd and 123rd editions (2026 basic personal amounts, Ontario surtax $5,818/$7,446 and tax reduction, B.C. tax reduction $690); KPMG 2026 non-refundable credit table (Canada employment amount $1,501). Manitoba brackets use the non-indexed $47,000/$100,000 confirmed in T4127. Estimate, not tax advice.