Budget / Tax-Year Change Impact Calculator
See the personal dollar impact of the latest federal Budget's tax changes on your contractor or employee income, old rules versus new.
This year's net income
$46,843
Income tax$8,817
Total contributions$4,340
Enter last year's net take-home above to see the year-on-year change.
What actually changed in your tax bill this year
Each federal Budget adjusts tax brackets, the basic personal amount and sometimes CPP or other thresholds, but working out exactly what a given change means for your own income usually means running two full tax calculations by hand and comparing them. This calculator does that automatically for 2026 against the prior year's rules.
What this calculator compares
- Your 2026 federal and Ontario tax bands against the prior year's, including the basic personal amount and its phase-out range, $181,440 to $258,482 for 2026
- CPP and CPP2 ceilings year over year, since both the regular ceiling and the newer second ceiling are indexed annually
- The dollar difference in your take-home pay attributable specifically to bracket and threshold changes, isolated from any change in your own income
