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readme update
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demmings committed Dec 30, 2024
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* A Google Sheets custom function used for doing retirement income projections and taking Canadian taxes into the equation.
* Take a column of **NET INCOMES** and calculate as accurately as possible the amount of **GROSS INCOMES** that would be required in **Canada** (and **ONTARIO**) to have the required net income.
* There is also the option of doing the opposite on finding net incomes from gross incomes.
* The factors taken into consideration for finding gross/net income:
* Regular taxable income (like RRSP, CPP, OAS,...)
* The factors taken into consideration for finding gross income:
* Net income
* Age credits
* Capital gains
* Eligible Canadian Dividends
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* I have coded the js so it should be fairly easy to extended support for other provinces.
* Only 2024, 2025 tax brackets currently entered.
* However, even if this data is not updated and you use in a later year (e.g. 2030) - the tax brackets will be adjusted for inflation from last known (in this case 2025).
* Only a single year of tax rates are supported - it would be nice to handle this years and next (if known) - future expansion.
* Spousal returns are not calculated.
* Many special credits that many affect your total tax bill are not calculated (at this time).
*
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