HouseDeltas

the honest math of Canadian home buying

References

Every number the calculator uses, generated from the same source registry the engine reads at build time — this table can never drift from the code.

Mortgage (see: Mortgage math)

NameValueSourceEffectiveRetrieved
Fixed-rate mortgage compounding: semi-annual, not in advance — market convention anchored in the Interest Act s.6 disclosure rule; monthly rate = (1+r/2)^(1/6)−1textInterest Act, R.S.C. 1985, c. I-15, s. 61985-12-122026-07-05

Land transfer tax (see: Land transfer tax)

NameValueSourceEffectiveRetrieved
Ontario Land Transfer Tax marginal brackets (one or two single-family residences)— (see table below / explainer)Calculating Land Transfer Tax | Land Transfer Tax — ontario.ca2017-01-012026-07-05
Toronto Municipal Land Transfer Tax marginal brackets (one or two single-family residences)— (see table below / explainer)Municipal Land Transfer Tax & Municipal Non-Resident Speculation Tax Rates & Fees — City of Toronto2026-04-012026-07-05
Ontario first-time homebuyer land transfer tax refund maximum$4,000Land Transfer Tax Refunds for First-Time Homebuyers — ontario.ca2017-01-012026-07-05
Toronto MLTT first-time purchaser rebate maximum$4,475Municipal Land Transfer Tax & Municipal Non-Resident Speculation Tax Rebate Opportunities — City of Toronto2008-02-012026-07-05

CMHC mortgage insurance (see: CMHC mortgage insurance)

NameValueSourceEffectiveRetrieved
CMHC premium, 15–19.99% down (LTV 80.01–85%)2.8%CMHC — Mortgage Loan Insurance Cost2017-03-172026-07-05
CMHC premium, 10–14.99% down (LTV 85.01–90%)3.1%CMHC — Mortgage Loan Insurance Cost2017-03-172026-07-05
CMHC premium, 5–9.99% down (LTV 90.01–95%)4%CMHC — Mortgage Loan Insurance Cost2017-03-172026-07-05
Insured mortgage purchase-price cap (price must be strictly below this)$1,500,000CMHC Purchase Mortgage Loan Insurance2024-12-152026-07-05
Minimum down payment first tier cap (5% below, 10% above up to insured cap)$500,000FCAC — How much you need for a down payment2024-12-152026-07-05
Minimum down payment rate, portion up to first-tier cap5%CMHC Purchase Mortgage Loan Insurance ("5% of the first $500,000 of lending value and 10% of the remainder")2024-12-152026-07-05
Minimum down payment rate, portion above first-tier cap10%CMHC Purchase Mortgage Loan Insurance ("5% of the first $500,000 of lending value and 10% of the remainder")2024-12-152026-07-05
Default insurance required below this down-payment fraction20%FCAC: down payments2016-02-152026-07-05
CMHC premium tier boundaries by down-payment fraction— (see table below / explainer)CMHC Purchase Mortgage Loan Insurance2017-03-172026-07-05
30-year amortization premium surcharge (CMHC Home Start; FTHB or new build)0.2%CMHC Home Start2024-12-152026-07-05
Ontario RST on mortgage default insurance premium (due at closing, not financeable)8%Ontario Ministry of Finance — Retail Sales Tax: Insurance and Benefits Plans1997-07-012026-07-05

CRA — rental income & capital gains (see: Renting out part of the house · Capital gains at sale)

NameValueSourceEffectiveRetrieved
Capital gains inclusion rate (individuals)50%CRA Guide T4037, Capital Gains 2025 ("The inclusion rate for 2025 is 50%"; 2/3 proposal cancelled per PM release 2025-03-21)2001-01-012026-07-05
PRE partial change-in-use: rented share taxable unless ancillary use, no structural change, no CCA (Folio S1-F3-C2 ¶2.57–2.60)textIncome Tax Folio S1-F3-C2, Principal Residence2019-03-192026-07-05
ACB = purchase price + expenses to acquire (commissions, legal fees) + land transfer tax; capital improvements add, current expenses do nottextCRA Guide T4037 ACB definition; land transfer tax per https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/rental-income/rental-expenses-you-cannot-deduct.html2025-01-012026-07-05
Capital gain = proceeds of disposition minus ACB and outlays and expenses incurred to sell (commissions, legal fees)textCRA Guide T4037, Capital Gains — calculating your capital gain or loss2025-01-012026-07-05
T4036 rule: split whole-property expenses between personal and rented area by square metres or rooms; expenses relating only to the rented area are 100% deductiblerentedPortion applies to whole-building expenses (taxes, insurance, interest, utilities); suite-only expenses deductible in full; e.g. 3 of 12 rooms = 25% (Patrick example), 4 of 10 rooms = 40%Guide T4036, Rental Income — Personal portion of total expenses2025-01-012026-07-05
T4036 deductible current expenses and explicit non-deductiblesDeductible: advertising, insurance, mortgage interest, professional fees, management fees, repairs & maintenance (current only), property taxes, utilities. NOT deductible: land transfer taxes (add to cost), mortgage principal, penalties, value of own labour, capital improvements (CCA only)Guide T4036, Rental Income — Chapter 3 Expenses / Expenses you cannot deduct2025-01-012026-07-05
Rental losses deductible against other income if incurred to earn income; barred for cost-sharing arrangements and where no reasonable expectation of profitIf you incur the expenses to earn income, you can deduct your rental loss against your other sources of income; no loss for cost-sharing or below-market rent to non-arm's-length tenants; part-of-home expenses barred absent reasonable expectation of profitGuide T4036, Rental Income — Rental losses / Renting below fair market value2025-01-012026-07-05
Folio S1-F3-C2: full PRE retained only if income use is ancillary, no structural change, and no CCA claimed; claiming CCA triggers deemed disposition of the rented portionParas 2.58-2.60: expenses (other than CCA) claimable while preserving PRE; commencing CCA applies the deemed disposition rule from when income use began; a self-contained rental suite is an example of a structural changeIncome Tax Folio S1-F3-C2, Principal Residence2019-03-192026-07-05
Gross rental income is total rents actually earned in the year (line 8141 / 8299); no vacancy-allowance deduction existsInclude the total rents you earned in the year on line 8141; vacancy is a planning assumption reducing projected gross rent, not a tax deductionGuide T4036, Rental Income — Part 3 Income / Line 8299 Total gross rental income2025-01-012026-07-05

Mortgage qualification

NameValueSourceEffectiveRetrieved
Minimum qualifying ratemax(contract + 2%, 5.25%)OSFI — Minimum qualifying rate for uninsured mortgages2021-06-012026-07-14
Qualifying rate floor5.25%OSFI — Minimum qualifying rate for uninsured mortgages2021-06-012026-07-14
GDS maximum (insured)39%CMHC — Calculating GDS / TDS ("CMHC restricts debt service ratios to 39% (GDS) and 44% (TDS)")2021-07-052026-07-14
TDS maximum (insured)44%CMHC — Calculating GDS / TDS ("CMHC restricts debt service ratios to 39% (GDS) and 44% (TDS)")2021-07-052026-07-14
Heating estimate for GDS (lender convention)$125CMHC — Calculating GDS / TDS (actual heat costs, else "a reasonable estimate")2026-01-012026-07-14
Suite gross-rent add-back, 2-unit owner-occupied (insured)100%CMHC — Calculating GDS / TDS ("up to 100% of gross rental income from the secondary suite")2023-01-012026-07-14

Cost defaults (see: Cost defaults)

NameValueSourceEffectiveRetrieved
Toronto residential property tax rate (total, incl. education + city building fund)0.767311%City of Toronto — Property Tax Rates & Fees (2026)2026-01-012026-07-05
Annual maintenance, 1% of home value (heuristic; realistic range 1–3%)1%Globe and Mail — In search of hard numbers on what it costs to maintain a home2026-01-012026-07-05
Home insurance benchmark premium (Toronto detached, ~$2,000/yr) — basis for the 0.25%-of-value default$2,000MyChoice — How Much Does Home Insurance Cost in Ontario (2025); cross-ref rates.ca Q2 20262025-01-012026-07-05
Monthly utilities (hydro + gas + water), detached GTA home$400On The Move Canada — Cost of Utilities in Toronto (2026 Guide)2026-01-012026-07-05
Assumed long-run CPI inflation — Bank of Canada 2% target (midpoint of the 1–3% control range)2%Bank of Canada — Inflation-Control Target2021-12-132026-07-24
Default all-in selling cost rate (Toronto): 5% commission + 13% HST on commission + legal fees5.8%WOWA Cost of Selling a House; corroborated by Fox Marin, https://foxmarin.ca/real-estate-commissions-ontario/ (5% split 2.5/2.5 + HST)2026-07-052026-07-05

Income tax brackets

NameValueSourceEffectiveRetrieved
2026 combined federal + Ontario marginal tax rates (surtax folded in), ordinary income— (see table below / explainer)EY — Ontario combined federal and provincial personal income tax rates 20262026-01-012026-07-05
TFSA annual dollar limits 2009-2026 (cumulative $109,000 at Jan 1 2026; indexation rounds to nearest $500; 2027 UNRESOLVED until CRA fall announcement — never projected)— (see table below / explainer)CRA — Tax-Free Savings Account (limits table); 2023-2026 via canada.ca calculate-room page [PRIMARY]; earlier years corroborated-secondary2009-01-012026-08-26
RRSP deduction limit formula: 18% of prior-year earned income minus pension adjustment, capped at the 2026 dollar maximum— (see table below / explainer)CRA MP/RRSP/DPSP/TFSA limits table; 2026 cap $33,810 corroborated-secondary (TD/TurboTax/Questrade concordant; canada.ca fetch blocked this session)2026-01-012026-08-26
RRSP dollar cap on the 18% formula, 2026$33,810CRA registered-program limits table (corroborated-secondary, four concordant sources)2026-01-012026-08-26
RRSP accrual rate on prior-year earned income18%CRA — RRSP contribution limit formula (ITA s.1024(1))1991-01-012026-08-26
FHSA: $8,000 annual limit; $40,000 lifetime; unused room carries forward ONE year only (max $16,000 in a single year); non-qualifying withdrawal = ordinary income with RRSP-style withholding; qualifying-home closing deadline = end of year following first withdrawal— (see table below / explainer)CRA — First Home Savings Account (PRIMARY where reachable; corroborated-secondary otherwise)2023-04-012026-08-26
FHSA contributions are deductible from income for the contribution year or a future year (RRSP-like); lifetime deduction maximum $40,000; unclaimed deductions carry forward indefinitely; transfers in from an RRSP are NOT deductible— (see table below / explainer)CRA — Tax deductions for FHSA contributions (corroborated-secondary: canada.ca returned 403 to automated fetch; wording via search index, concordant with Investment Executive)2023-04-012026-08-30
FHSA maximum participation period ends Dec 31 of the year of the EARLIEST of: 15th anniversary of opening the first FHSA; turning 71; the year following the first qualifying withdrawal. Property left at period end loses FHSA status and its fair market value becomes taxable income unless directly transferred— (see table below / explainer)CRA — Withdrawals and transfers out of your FHSAs2023-04-012026-08-26
Unused FHSA property may be transferred directly to an RRSP or RRIF (Form RC721) on a tax-deferred basis; the transfer does not use RRSP deduction room and does not reduce it— (see table below / explainer)CRA — Withdrawals and transfers out of your FHSAs (worked example: "no tax consequences and there will be no impact on his unused RRSP deduction room")2023-04-012026-08-26
Home Buyers' Plan: an RRSP withdrawal of up to $60,000 per person per calendar year is excluded from income (ITA 146.01(1) "regular eligible amount" (h)); the HBP balance must be nil at 1 January of the withdrawal year (paragraph (i)); raised from $35,000 for withdrawals after 16 April 2024$60,000Income Tax Act s. 146.01 (consolidated text, laws-lois.justice.gc.ca — PRIMARY, read in full)2024-04-172026-08-31
Home Buyers' Plan eligibility: no owner-occupied principal residence from the start of the fourth preceding calendar year to the 31st day before withdrawal (same test applied to a spouse for a home the individual inhabited); a written agreement to acquire or build must predate the withdrawal; the home must not have been acquired more than 30 days before it; and it must be acquired before 1 October of the following calendar year (the "completion date")— (see table below / explainer)Income Tax Act s. 146.01(1) definitions and 146.01(2), (2.1) (PRIMARY)2024-04-172026-08-31
Home Buyers' Plan repayment: income inclusion for a year is [(A - B - C) / (15 - D)] - E, so the minimum annual repayment is the outstanding balance divided by (15 - D) where D is the lesser of 14 and the years elapsed since the clock started; repaying less than the minimum adds the shortfall to income and reduces the balance anyway; a designated repayment is not deductible and consumes no RRSP room, and amounts transferred directly from an FHSA, RRSP, RPP, RRIF or DPSP are excluded premiums that cannot be designated15Income Tax Act s. 146.01(3), (4) (PRIMARY)1994-01-012026-08-31
Home Buyers' Plan temporary repayment relief: where the completion date falls after 2022 and before 2030 — withdrawal years 2022 through 2028 — the repayment clock starts on 1 January of the fifth year after the withdrawal instead of the second (ITA 146.01(4.1) reads 'first calendar year' in D as 'fourth', and 146.01(4.2) nils the inclusion for up to three further years)— (see table below / explainer)Income Tax Act s. 146.01(4.1), (4.2) (PRIMARY; enacted by 2024, c. 15, s. 43 and extended by 2026, c. 22, s. 6)2024-06-202026-08-31
RRSP contributions withdrawn as an HBP eligible amount less than 90 days after they were paid are not deductible (ITA 146(5)(a)(iv.1)); the attribution order is earnings first, then premiums in the order paid, so an established balance absorbs a fresh contribution before it becomes the withdrawn dollar90 daysIncome Tax Act s. 146(5)(a)(iv.1) (PRIMARY)1994-01-012026-08-31
RESP brief: CESG 20% match up to $500/yr per child ($7,200 lifetime), lifetime contribution limit $50,000; EAP taxable to student, PSE (contributions) returned tax-free— (see table below / explainer)CRA — Registered Education Savings Plans2007-01-012026-08-26

Income tax 2026 — absolute calculation

NameValueSourceEffectiveRetrieved
Federal personal brackets 2026 (14/20.5/26/29/33)— (see table below / explainer)CRA — Canadian income tax rates for individuals (2026); thresholds indexed 2.0%2026-01-012026-08-26
Ontario personal brackets 2026 (5.05/9.15/11.16/12.16/13.16)— (see table below / explainer)CRA — Combined 2026 federal/Ontario rates; $150k/$220k thresholds not indexed2026-01-012026-08-26
Federal basic personal amount 2026 (max, before phase-out)$16,452TaxTips.ca 2026 federal credits; canada.ca BPA page blocked automated fetch — corroborated-secondary (EY/KPMG/TaxTips concordant)2026-01-012026-08-26
Federal basic personal amount 2026 (floor after full phase-out)$14,829TaxTips.ca 2026 federal credits (corroborated-secondary)2026-01-012026-08-26
Federal BPA phase-out start (net income)$181,440TaxTips.ca 2026 federal credits (corroborated-secondary)2026-01-012026-08-26
Federal BPA phase-out end (net income; floor applies at/above)$258,482TaxTips.ca 2026 federal credits (corroborated-secondary)2026-01-012026-08-26
Credit rate applied to the federal BPA (lowest federal rate)14%CRA — 2026 rates (14% lowest rate full-year)2026-01-012026-08-26
Ontario basic personal amount 2026 (no phase-out)$12,989TaxTips.ca 2026 Ontario credits (corroborated-secondary)2026-01-012026-08-26
CPP employee contribution rate (base + enhancement, 2019-2026 steady state)5.95%CPP enhancement contribution rate; canada.ca blocked fetch — corroborated-secondary (CPBCA announcement, EY, TaxTips concordant)2026-01-012026-08-26
CPP Year's Maximum Pensionable Earnings (YMPE) 2026$74,600CRA payroll limits 2026 (corroborated-secondary)2026-01-012026-08-26
CPP annual basic exemption$3,500CPP enhancement pages (corroborated-secondary)2026-01-012026-08-26
CPP2 Year's Additional Maximum Pensionable Earnings (YAMPE) 2026$85,000CRA payroll limits 2026 (corroborated-secondary)2026-01-012026-08-26
CPP2 employee rate on earnings between YMPE and YAMPE4%CPP enhancement (corroborated-secondary)2026-01-012026-08-26
EI employee premium rate 20261.63%CRA — EI premium rates and maximums 2026 (PRIMARY via ESDC release corroboration)2026-01-012026-08-26
EI maximum insurable earnings 2026$68,900CRA — EI maximums 20262026-01-012026-08-26
EI employer multiplier (standard program)140%CRA — EI employer share (reduced-rate programs exist; 1.4x standard)2026-01-012026-08-26
Ontario surtax tiers 2026 (20% over threshold1; +36% more over threshold2)— (see table below / explainer)T4032ON 2026 (PRIMARY); operative thresholds indexed: 5818 / 74462026-01-012026-08-26
Ontario Health Premium schedule (statutory, NOT indexed): <=20k $0; to 36k min(300, 6% over 20k); to 48k min(450, 300+6% over 36k); to 72k min(600, 450+25% over 48k); to 200k min(750, 600+25% over 72k); above, min(900, 750+25% over 200k)— (see table below / explainer)CRA T4032ON Jan 2026 verbatim worksheet lines; ontario.ca/page/health-premium corroborates ($900 only above $200,600)2004-07-012026-08-26

Investment taxation

NameValueSourceEffectiveRetrieved
Eligible dividend gross-up factor (added to cash dividend for taxable income)38%Income Tax Act s.82(1)(b); corroborated TaxTips line 120002006-01-012026-08-26
Non-eligible dividend gross-up factor15%Income Tax Act s.82(1)(b); corroborated TaxTips line 120102018-01-012026-08-26
Federal dividend tax credit on eligible dividends, as a fraction of the grossed-up (taxable) amount15.0198%CRA Line 40425 — Federal dividend tax credit ("multiply the taxable amount ... on line 12000 ... by 15.0198%")2019-01-012026-08-26
Federal dividend tax credit on non-eligible dividends, as a fraction of the grossed-up (taxable) amount9.0301%CRA Line 40425 — Federal dividend tax credit ("multiply the taxable amount ... on line 12010 ... by 9.0301%")2019-01-012026-08-26
Ontario dividend tax credit on eligible dividends, as a fraction of the grossed-up (taxable) amount10%Ontario dividend tax credit — rate table row "2020-2026 ... eligible dividends 10.0%"2020-01-012026-08-26
Ontario dividend tax credit on other (non-eligible) Canadian dividends, as a fraction of the grossed-up amount. Drops to 1.9863% in 2027 — re-check next cycle.2.9863%Ontario dividend tax credit — rate table row "2020-2026 ... other Canadian dividends 2.9863%"2020-01-012026-08-26
Ontario top combined rate on ACTUAL eligible dividends 2026 (income over $258,482, excl. health premium)39.34%TaxTips.ca Ontario 2026 rates; corroborated exactly by EY Canadian personal tax rates Ontario 2026-06-152026-01-012026-08-26
Ontario top combined rate on ACTUAL non-eligible dividends 2026 (income over $258,482, excl. health premium)47.74%TaxTips.ca Ontario 2026 rates; corroborated exactly by EY Canadian personal tax rates Ontario 2026-06-152026-01-012026-08-26
Ontario top combined marginal rate on ordinary income 2026 (income over $258,482, excl. health premium)53.53%TaxTips.ca Ontario 2026 rates; corroborated exactly by EY Canadian personal tax rates Ontario 2026-06-152026-01-012026-08-26
Ontario top combined rate on actual capital gains 2026 (53.53% × 50%)26.76%TaxTips ON 2026 == EY 2026 rate card (concordant)2026-01-012026-08-26
Default treaty withholding on foreign dividends (US 15% under treaty; varies by country)15%TaxTips — foreign withholding; FTC-recoverable in non-registered accounts only2026-01-012026-08-26

Retirement benefits (CPP/OAS/RRIF)

NameValueSourceEffectiveRetrieved
CPP retirement pension, published maximum at age 65 (Jan 2026 starters)$1,508CRA/Service Canada — CPP payment amounts (canada.ca via search crawl; corroborated-secondary)2026-01-012026-08-26
CPP start-age adjustment: -0.6%/month before 65 (floor -36% at 60); +0.7%/month 65-70 (cap +42% at 70)— (see table below / explainer)Service Canada — When to start your CPP retirement pension2026-01-012026-08-26
OAS maximum monthly, age 65-74, Jul-Sep 2026 quarter (age 75+: $827.17)$752Service Canada — Old Age Security payment amounts (quarterly-indexed)2026-07-012026-08-26
OAS deferral bonus: +0.6%/month deferred after 65, max 60 months (+36% at 70); eligibility 65 with 10yr/20yr residency (partial pension = residency/40ths)— (see table below / explainer)Service Canada — OAS deferral2013-07-012026-08-26
OAS clawback (recovery tax): 15% of net world income over $93,454 for OAS paid in calendar 2026$93,454CRA — Old Age Security recovery tax (threshold for 2026 payments; 2026 INCOME year threshold is $95,323 — swap when modelling future years)2026-01-012026-08-26
RRIF minimum withdrawal factors (Budget 2015 schedule): entry age <=71 uses 1/(90-age); table 71-94; 20.00% applies at 95+. Secondary sources commonly typo 86 (8.99, not 9.01) and 89 (10.99, not 11.01)— (see table below / explainer)CRA — RRIF minimum payments; factors cross-checked digit-for-digit across four sources2015-01-012026-08-26

Education savings (RESP)

NameValueSourceEffectiveRetrieved
RESP lifetime contribution limit per beneficiary (2007 onward)$50,000Income Tax Act s.204.9(1), definition "RESP lifetime limit for a year"2007-01-012026-08-27
Canada Education Savings Grant basic matching rate on RESP contributions20%Canada Education Savings Act s.5 ("20% of the contribution")1998-01-012026-08-27
CESG basic annual maximum per beneficiary (20% of the first $2,500 contributed)$500Canada Education Savings Act s.5; $1,000 annual ceiling covers one carried-forward year2007-01-012026-08-27
CESG annual maximum payable including one year of carried-forward room$1,000Canada Education Savings Act s.5 ("the lesser of $1,000")2007-01-012026-08-27
CESG lifetime maximum per beneficiary$7,200Canada Education Savings Act s.5 ("Not more than $7,200 ... during their lifetime")1998-01-012026-08-27
Last age at which CESG is payable — the calendar year of the beneficiary's 17th birthday (ages 16-17 carry extra conditions, not modelled)17Canada Education Savings Act s.5 with ESDC administrative age rules (corroborated-secondary)2007-01-012026-08-27
Educational assistance payments (grants + growth) are included in the STUDENT's income, not the subscriber's; contributions come back tax-freetextIncome Tax Act s.146.1(7)1998-01-012026-08-27