Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$15,340
Federal tax deduction
- $1,970
Provincial tax deduction
- $239
CPP deduction
- $675
EI deduction
- $242
Total tax
- $3,126
Net pay
* $12,214
Marginal tax rate
25.9%
Average tax rate
20.4%
79.6%
Net pay
20.4%
Total tax
Total tax
Net pay
Summary
If you make $15,340 a year living in the region of British Columbia, Canada, you will be taxed $3,126. That means that your net pay will be $12,214 per year, or $1,018 per month. Your average tax rate is 20.4% and your marginal tax rate is 25.9%. 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 $25.88, hence, your net pay will only increase by $74.12.
Bonus Example
A $1,000 bonus will generate an extra $741 of net incomes. A $5,000 bonus will generate an extra $3,706 of net incomes.
NOTE* Withholding is calculated based on the British Columbia 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.