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Tax Refund Estimator 2025
Estimate if you'll get a refund or owe money when you file your 2025 tax return.
Income
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Interest, rental, EI, etc.
Deductions
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Limit: $32,490
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Tax Credits
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Only expenses over 3% of income count
Enter your income to estimate your tax refund or balance owing
How Tax Refunds Work in Canada
Whether you get a refund or owe money depends on how much tax was withheld from your paycheques compared to your actual tax liability. If too much was withheld, you get a refund. If not enough, you owe the difference.
Common Reasons for Refunds
- RRSP contributions (reduce taxable income)
- Tuition tax credits
- Charitable donations
- Child care expenses
- Medical expenses above the threshold
Common Reasons for Owing
- Multiple jobs (each withholds at lower rate)
- Self-employment income with no source deductions
- Investment income or capital gains
- RRSP withdrawals
Disclaimer: This is an estimate based on the information provided. Your actual tax situation may differ. This calculator does not account for all credits and deductions. Consult a tax professional for accurate advice.