Income Tax Calculator British Columbia

Find out how much your salary is after tax

Enter your gross income

Salary rate

Withholding

Salary $62,068

EI deduction - $950

CPP deduction - $3,336

Federal tax deduction - $9,127

Provincial tax deduction - $3,425

Total tax - $16,838

Net pay * $45,230

Marginal tax rate 32.7%

Average tax rate 27.1%

27.1%Total tax

72.9%

Net pay

The Taxberg

$45,230

Net pay

$4,666

Tax the employer pays

$16,838

Tax you pay

Total tax paid

$21,504

Did you know your employer also pays tax on your salary? It costs the employer $4,666 to pay you $62,068. In other words, every time you spend $10 of your hard-earned money, $3.46 goes to the government.

Real tax rate

32.2%

So, with you and the employer both paying tax, what used to be a 27.1% tax rate now rises to 32.2%, meaning your real tax rate is actually 5.1% higher than what it seemed at first.

Summary

If you make $62,068 a year living in the region of British Columbia, Canada, you will be taxed $16,838. That means that your net pay will be $45,230 per year, or $3,769 per month. Your average tax rate is 27.1% and your marginal tax rate is 32.7%. 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 $32.7, hence, your net pay will only increase by $67.3.

Bonus Example

A $1,000 bonus will generate an extra $673 of net incomes. A $5,000 bonus will generate an extra $3,365 of net incomes.

Province

AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon

Tax per income

$62,500$63,000$63,500$64,000$64,500$65,000$65,500$66,000$66,500$67,000$67,500$68,000$68,500$69,000$69,500$70,000$70,500$71,000$71,500$72,000

Tax per region

Country	Net pay	Average tax	Rank
Nunavut	CAD 45,918	26.0%	1
British Columbia	CAD 45,230	27.1%	2
Northwest Territories	CAD 44,797	27.8%	3
Manitoba	CAD 41,875	32.5%	11
Prince Edward Island	CAD 41,776	32.7%	12
Nova Scotia	CAD 41,526	33.1%	13

NOTE* Withholding is calculated based on the British Columbia tables of CA, 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.