Tax Refund Estimator
Estimate whether you will receive a tax refund or owe a balance. Enter your annual income and the total tax withheld from your paycheques to see the difference.
Your Tax Details
Refund Estimate
Estimated Refund
$1,843
Effective Tax Rate
22.0%
How it works: This estimator calculates your actual tax owed (federal + provincial income tax, CPP, and EI) based on your annual income, then compares it to the total tax your employer withheld. If more was withheld than owed, you get a refund. If less was withheld, you owe the difference. This is an estimate — your actual refund may differ based on deductions, credits, and other income sources.
Understanding Your Tax Refund
A tax refund occurs when your employer withheld more tax from your paycheques than you actually owe. This commonly happens when you have deductions (RRSP contributions, childcare expenses) or credits that reduce your tax below what was withheld.
Balance due can occur if you have additional income sources (freelancing, rental income, investments) that were not subject to payroll withholding, or if your TD1 form overstated your personal credits.
Your actual refund or balance may differ from this estimate if you have RRSP deductions, medical expenses, charitable donations, capital gains, or other items not captured here.
Sources
Related Calculators
Last updated April 2026. Reflects 2026 tax year rates.