Ontario · 2026 tax year
Estimate your 2026 income tax, self-employed CPP, take-home pay, and monthly tax set-aside in Canadian dollars.
Enter your annual numbers — the estimate updates as you type.
2026 tax year, Ontario, self-employed.
Estimated amount owing
Planning estimate, not a tax return. It uses standard basic personal credits and simplified CPP treatment. It does not model every credit, benefit, capital purchase, loss, partnership, employment-CPP interaction, or GST/HST situation.
Keep your tax set-aside earning while it waits for tax time.
Explore Wealthsimple →Track freelance income, expenses, and tax estimates through the year — and make quarterly tax time painless.
Try QuickBooks (50% Off)| Jurisdiction | Bracket | Rate |
|---|---|---|
| Federal | ||
| Federal | Up to $58,523 | 14% |
| Federal | $58,523–$117,045 | 20.5% |
| Federal | $117,045–$181,440 | 26% |
| Federal | $181,440–$258,482 | 29% |
| Federal | Over $258,482 | 33% |
| Ontario | ||
| Ontario | Up to $53,891 | 5.05% |
| Ontario | $53,891–$107,785 | 9.15% |
| Ontario | $107,785–$150,000 | 11.16% |
| Ontario | $150,000–$220,000 | 12.16% |
| Ontario | Over $220,000 | 13.16% |
| Self-employed CPP | ||
| CPP | Self-employed CPP 11.9% on net business income from $3,500 to $74,600 (YMPE), plus 8% CPP2 from $74,600 to $85,000. | |
Income tax and CPP are calculated on net business income — revenue minus eligible business expenses — not on your gross revenue. Software subscriptions, home-office costs, and professional fees that meet CRA rules reduce the income the tax brackets and CPP rates apply to, which is why tracking every eligible expense usually moves the estimate more than any other input.
If your taxable revenues pass the $30,000 small-supplier threshold, you generally must register for and charge GST/HST — but that sales tax is not your income. Enter revenue before GST/HST in the calculator, keep the tax you collect in a separate account, and treat remittance as its own obligation.
Use the monthly set-aside shown above as a starting point. If your income is volatile, recalculate after a strong month or a major new contract. A small buffer is prudent because credits and deductions differ by person.
Generally, yes. A self-employed person pays the full 11.9% 2026 CPP rate on eligible net business income between the $3,500 exemption and the $74,600 YMPE, plus 8% CPP2 on eligible income between $74,600 and $85,000. Annual maximums apply.
No. Business expenses reduce net business income when they are incurred to earn business income and meet CRA rules. Personal deductions, such as eligible RRSP contributions, are handled separately.
No. The calculator expects revenue before GST/HST and does not treat collected sales tax as income. The $30,000 small-supplier threshold is based on gross taxable revenues, not profit.
Tax software uses a full return with your exact credits, deductions, instalments, employment contributions, and other schedules. This calculator is intentionally a faster planning estimate.
Sources: CRA federal and provincial tax rates, CRA 2026 Ontario thresholds, Government of Canada CPP contributions, CRA GST/HST registration.
Rates reviewed September 24, 2026 · Tax year 2026
A mortgage specialist can review how lenders may assess self-employed income, documents, and affordability.
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