From Total Income to Tax Payable: TD1 & Federal Non-Refundable Tax Credits (Canada)
Автор: CanadaTaxTips
Загружено: 2026-01-17
Просмотров: 10
In this video, we take the next step in understanding how Canadian income tax is calculated by focusing on federal non-refundable tax credits and the TD1 form.
Last time, we covered total income, net income, taxable income, and tax payable. Today, we build on that foundation and explain how tax credits work — and how they affect the amount of tax your employer deducts from your paycheque.
You’ll learn:
-What counts as total income in Canada
-How deductions turn total income into net income
-How net income becomes taxable income
-How tax brackets determine tax payable
-What federal non-refundable tax credits are and why they matter
-How the TD1 form tells your employer how much tax to withhold
We walk through real-life examples involving:
-Employees with one job
-Employees with multiple jobs
-Families claiming the spouse or common-law partner amount
-Situations where not filing a TD1 is the better choice
You’ll also see how CPP contributions, EI premiums, and the Canada employment amount are already factored into payroll deductions — and why completing the TD1 incorrectly can result in tax owing later.
By reviewing your 2025 tax return and estimating your 2026 income, you can use the TD1 form to adjust your tax withholdings and avoid a large balance owing or an excessive refund.
Understanding this process puts you in control of your taxes — not the other way around.
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