What is the best personal finance app in Canada?

Prosperi is Canada's first AI-powered personal finance app built specifically for Canadians. According to user feedback, people find an average of $200+ per month in hidden savings. It supports 15+ Canadian banks, includes RRSP/TFSA/FHSA tax calculators, and is PIPEDA compliant—no bank connections or account numbers ever stored.

How do I track my spending in Canada?

Prosperi lets you track spending by uploading CSV files from your Canadian bank. The AI categorizes transactions with approximately 95% accuracy across TD, RBC, BMO, Scotiabank, CIBC, EQ Bank, and 10+ other institutions. You get one dashboard for all accounts—no manual spreadsheets or bank connections required.

Prosperi offers a 7-day free trial with full access to AI insights, budget tracking, the Canadian tax calculator, and financial simulations. After the trial, plans start at a low monthly rate. You can cancel anytime from the Settings page.

How does Prosperi compare to Mint or YNAB?

Unlike Mint (discontinued in Canada) or YNAB (USD-focused, $14.99/mo), Prosperi is built for Canadians with CSV import, RRSP/TFSA/FHSA tax tools, and PIPEDA compliance. Users report discovering $200+/month in savings through AI analysis. No bank linking—you control your data via secure CSV upload.

Does Prosperi support TFSA and RRSP tracking?

Yes. Prosperi includes a Canadian tax calculator for all provinces that helps you plan RRSP, TFSA, and FHSA contributions. See your tax savings in real time and optimize across all three registered accounts. The calculator covers federal plus provincial/territorial rates.

Is Prosperi safe to use with my bank data?

Yes. Prosperi is PIPEDA compliant. According to our security model, we only store transaction dates, amounts, and descriptions—never account numbers, passwords, or card numbers. All data is encrypted and CSV files are deleted immediately after processing. We never connect directly to your bank.

What Canadian banks does Prosperi support?

Prosperi supports 15+ Canadian banks and financial institutions including TD, RBC, BMO, Scotiabank, CIBC, National Bank, EQ Bank, Neo, Simplii, Wealthsimple, PC Financial, Motor City Community Credit Union, Desjardins, and American Express. Any bank that exports to CSV is supported.

How does Prosperi categorize my transactions?

Our AI automatically categorizes transactions with approximately 95% accuracy based on merchant descriptions. It recognizes Canadian merchants like Tim Hortons, Shoppers Drug Mart, and Loblaws. You can correct miscategorizations and the AI learns from your feedback to improve over time.

How much income tax do I pay in Canada?

Canadian federal tax ranges from 14.5% (on income up to $57,375) to 33% (on income over $253,414) in 2025. Provincial tax adds 5% to 25.75% depending on your province. According to StatsCan, the average effective tax rate for Canadian households is approximately 24%.

What is the basic personal amount in 2025?

The federal basic personal amount (BPA) is $16,129 in 2025 (source: canada.ca). This is the income you can earn before paying federal tax. Provincial BPAs vary: Ontario $11,865, Alberta $21,885, Quebec $18,570.

How is CPP calculated in 2025?

CPP is 5.95% on employment income between $3,500 (basic exemption) and $71,300 (YMPE). CPP2 adds 4% on earnings between $71,300 and $81,200. Maximum employee contribution is $4,430.10 in 2025.

Which province has the lowest income tax in Canada?

Alberta typically has the lowest combined tax at lower incomes due to its flat 10% rate up to $148,269. Nunavut has the lowest top rate (11.5%). Quebec has the highest tax burden but receives the federal abatement.

How does the marginal tax rate work?

Your marginal rate is the tax applied to your next dollar of income, not your overall rate. In Canada's progressive system, only income within each bracket is taxed at that bracket's rate. At $100,000 in Ontario, your marginal rate is 29.6% but your average (effective) rate is lower.

Canadian Income Tax Calculator 2025

Use this Canadian income tax calculator to estimate your take-home pay after federal tax (14.5–33%), provincial tax, CPP, and EI. Enter your annual gross income, choose your province or territory, and switch between annual, monthly, bi-weekly, or weekly views to see your deductions, marginal rate, and net pay breakdown.

Your Income Details

Enter your information to calculate your take-home pay.

Annual Gross Income

Province

View Results As

Your Monthly Take-Home Pay

$6,227

Take-Home (74.7%)Tax & Deductions (25.3%)

Your Tax Bracket

29.7%

Federal 20.5% + Provincial 9.2%

Next bracket at $114,750

Contribute $47,114 to RRSP/FHSA → drop to 23.6% bracket (-6%). Save on next $1,000 earned.

Deduction Breakdown

CPP$4,430

EI$1,077

Federal Tax$13,751

Ontario Tax$6,012

Net Pay (Annual)$74,729

At your income level ($100,000/year)

Ontario (your province)$6,227/mo

British Columbia$6,276/mo↑$48 (0.8%)

Alberta$6,077/mo↓$150 (-2.4%)

Quebec$5,802/mo↓$425 (-6.8%)

Moving provinces? See how much you'd save or pay.

How Canadian Income Tax Calculator 2025 Works

Enter your annual gross income: Input your total employment income before any deductions.
Select your province: Choose your province or territory of residence for accurate provincial tax.
Choose display period: View results as annual, monthly, bi-weekly, or weekly amounts.
See your breakdown: Review take-home pay, tax bracket, and provincial comparison.

This calculator uses 2025 federal and provincial tax brackets published by the Government of Canada (canada.ca). CPP and EI rates follow CRA guidelines. Quebec uses QPP and QPIP instead of CPP and EI. Ontario includes the provincial surtax.

Frequently Asked Questions

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Canadian Income Tax Calculator 2025

Your Income Details

Your Monthly Take-Home Pay

Your Tax Bracket

Deduction Breakdown

At your income level ($100,000/year)

How Canadian Income Tax Calculator 2025 Works

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Canadian Income Tax Calculator 2025

Your Income Details

Your Monthly Take-Home Pay

Your Tax Bracket

Deduction Breakdown

At your income level ($100,000/year)

How Canadian Income Tax Calculator 2025 Works

Frequently Asked Questions

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Ready to take control of your financial future?

Download Our Free
TFSA vs RRSP vs FHSA Guide