Income tax calculator Alberta
Find out how much your salary is after tax
Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,204
Federal tax deduction
- $5,707
Provincial tax deduction
- $3,933
CPP deduction
- $2,206
EI deduction
- $667
Total tax
- $12,513
Net pay
*
$29,691
Marginal tax rate
30.5%
Average tax rate
29.6%
70.4%
Net pay
29.6%
Total tax
Total tax
Net pay
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The Taxberg
$29,691
Net pay
$3,140
Tax the employer pays
$12,513
Tax you pay
Total tax paid
$15,652
Did you know your employer also pays tax on your salary? It costs the employer $3,140 to pay you $42,204. In other words, every time you spend $10 of your hard-earned money, $3.71 goes to the government.
Real tax rate
34.5%
So, with you and the employer both paying tax, what used to be a 29.6% tax rate now rises to 34.5%, meaning your real tax rate is actually 4.9% higher than what it seemed at first.
Summary
If you make $42,204 a year living in the region of Alberta, Canada, you will be taxed $12,513. That means that your net pay will be $29,691 per year, or $2,474 per month. Your average tax rate is 29.7% and your marginal tax rate is 30.5%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $30.46, hence, your net pay will only increase by $69.54.
Bonus Example
A $1,000 bonus will generate an extra $695 of net incomes. A $5,000 bonus will generate an extra $3,477 of net incomes.
Compare average tax
North America
Country
Net pay
Average tax
Rank
USA
CAD 34,541
18.2%
1
Canada
CAD 31,188
26.1%
2
NOTE* Withholding is calculated based on the Alberta tables of Canada, income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.