what i’m trying to figure out is if there’s a way to estimate the return amount i could get after filing taxes for 2024, assuming i didn’t make any rrsp contributions.
the easiest way is to use an online tax calculator like this one: 2024 Income Tax Calculator Canada
this may be missing some obscure credits or deductions, so the more accurate way is to use actual tax software from 2023 and enter your 2024 numbers. the formulas will be very similar and should give you a pretty accurate result.
use the information on your last pay slip for the year, or use the information from your most recent pay slip to estimate your year-end numbers. then use any number of online tax calculators. they won’t take into consideration things like dtc or childcare expenses or medical expenses, but it’ll give you a decent estimate.
google 2024 tax calculator and your province. i know wealthsimple has one that’s straightforward.
this tax calculator on taxtips.ca has always been my go-to for detailed, accurate results, and it’s the only one i’ve found that actually accounts for the ‘alternative minimum tax.’
if you aren’t contributing to an rrsp, and your only income is from your job, theoretically your refund should be basically zero since your workplace should be deducting the right amount of tax.
anything more and you’d have to calculate it manually or with software. you can always input estimates into 2023 tax software to get an idea of your refund.