Tools & Resources

2026 Finance Assumptions & Sources

Every calculator on this site runs on the figures below, reviewed against CRA, Revenu Québec, ESDC and CMHC. They are educational estimates. For a filing or a mortgage application, confirm the numbers with a professional or with the source documents linked at the bottom of this page.

Federal Income Tax

Taxable income	Rate
First $58,523	14%
$58,523 to $117,045	20.50%
$117,045 to $181,440	26%
$181,440 to $258,482	29%
Over $258,482	33%

Basic personal amount: $16,452, reduced to $14,829 between $181,440 and $258,482 of income
Canada employment amount: $1,501 of employment income, as a credit
Donation credit: 14% on the first $200 of gifts each year, 29% above that, and 33% on the part matched by taxable income over $258,482

Provincial Income Tax

Lowest and highest bracket rates, the basic personal amount, and the donation credit rates each province applies. Surtaxes, health premiums and tax reductions are modelled in the calculators for the provinces that levy them.

Province	Lowest	Top	BPA	Donation
Ontario	5.05%	13.16%	$12,989	5.05% / 11.16%
British Columbia	5.60%	20.50%	$13,216	5.60% / 16.80%
Alberta	8%	15%	$22,769	60% / 21%
Quebec	14%	25.75%	$18,952	20% / 24%
Saskatchewan	10.50%	14.50%	$20,381	10.50% / 14.50%
Manitoba	10.80%	17.40%	$15,780	10.80% / 17.40%
Nova Scotia	8.79%	21%	$11,932	8.79% / 21%
New Brunswick	9.40%	19.50%	$13,664	9.40% / 17.95%
Newfoundland & Labrador	8.70%	21.80%	$13,094	8.70% / 21.80%
PEI	9.50%	20%	$15,000	9.50% / 19%

Donation shows the rate on the first $200 of gifts and the rate above it. Alberta's credit really is higher than its tax rates, at 60% on the first $200 and 21% above it. Quebec's figures are before the 16.5% federal abatement, which the calculators apply.

Registered Accounts

TFSA annual limit: $7,000
TFSA cumulative room if eligible since 2009: $109,000
RRSP dollar limit: $33,810
FHSA annual / lifetime limits: $8,000 / $40,000
RRSP Home Buyers' Plan limit: $60,000

Payroll

CPP: 5.95%, YMPE $74,600, max $4,230.45
CPP2: 4% on $74,600 to $85,000, max $416
EI outside Quebec: 1.63%, MIE $68,900, max $1,123.07
Quebec EI / QPP / QPIP: EI 1.30%, QPP 6.30%, QPIP 0.430%

Mortgage & Housing

Stress test: The greater of your contract rate plus 2% or 5.25%.
Minimum down payment: 5% on the first $500,000; 10% on the part between $500,000 and $1,500,000; 20% once the price reaches $1,500,000
Insured purchase price ceiling: $1,500,000, above which an insured mortgage is not available
Amortization: Up to 25 years insured, or 30 for a first-time buyer or a new build, which adds 0.20% to the premium

Loan to value	CMHC premium
Up to 65%	0.60% of the loan
Over 65% to 75%	1.70% of the loan
Over 75% to 80%	2.40% of the loan
Over 80% to 85%	2.80% of the loan
Over 85% to 90%	3.10% of the loan
Over 90% to 95%	4.00% of the loan

The premium is added to the mortgage. In Ontario (8%), Quebec (9%) and Saskatchewan (6%), provincial sales tax applies to the premium itself and is due in cash at closing.

Land transfer tax is modelled for 10 provinces plus the City of Toronto, including first-time buyer rebates where they exist.

Sources

Reviewed September 14, 2026. Spotted a figure that looks wrong? Email dan@wiseandfaithful.ca and it gets checked against the source the same week.