$1,040 income tax calculator 2025 - Ontario

Salary rate

Annual

Month

Biweekly

Weekly

Day

Hour

Withholding

Salary

$1,040

Federal tax deduction

- $4.09

EI deduction

- $16.43

Total tax

- $20.52

Net pay

* $1,019

Marginal tax rate

11.8%

Average tax rate

2.0%

98.0%

Net pay

2.0%

Total tax

Net pay

The Taxberg

$1,019

Net pay

$23

Tax the employer pays

$20.52

Tax you pay

Total tax paid

$43.52

Did you know your employer also pays tax on your salary? It costs the employer $23 to pay you $1,040. In other words, every time you spend $10 of your hard-earned money, $0.42 goes to the government.

Real tax rate

4.1%

So, with you and the employer both paying tax, what used to be a 2% tax rate now rises to 4.1%, meaning your real tax rate is actually 2.1% higher than what it seemed at first.

People also ask

$1,040 yearly is how much per hour?

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What is the average salary in Canada?

Summary

If you make $1,040 a year living in the region of Ontario, Canada, you will be taxed $20.52. That means that your net pay will be $1,019 per year, or $84.96 per month. Your average tax rate is 2.0% and your marginal tax rate is 11.8%. 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 $11.80, hence, your net pay will only increase by $88.20.

Bonus Example

A $1,000 bonus will generate an extra $882 of net incomes. A $5,000 bonus will generate an extra $4,410 of net incomes.

Compare average tax

Region

Newfoundland and Labrador

Northwest Territories

Tax per income

Tax per region

Newfoundland and Labrador

CAD 930

10.5%

1

Nova Scotia

CAD 930

10.6%

2

New Brunswick

CAD 923

11.2%

3

Prince Edward Island

CAD 919

11.6%

4

Alberta

CAD 917

11.8%

5

Saskatchewan

CAD 912

12.3%

6

Manitoba

CAD 909

12.6%

7

British Columbia

CAD 1,019

2.0%

8

Ontario

CAD 1,019

2.0%

9

Quebec

CAD 1,019

2.0%

10

Yukon

CAD 1,018

2.1%

11

Nunavut

CAD 979

5.9%

12

Northwest Territories

CAD 959

7.8%

13

Europe

United Kingdom

CAD 1,040

0.0%

1

Germany

CAD 1,040

0.0%

2

Austria

CAD 1,040

0.0%

3

Ireland

CAD 1,040

0.0%

4

Sweden

CAD 1,040

0.0%

5

Norway

CAD 1,040

0.0%

6

Spain

CAD 974

6.4%

7

Italy

CAD 944

9.2%

8

France

CAD 939

9.7%

9

Switzerland

CAD 931

10.5%

10

Czech Republic

CAD 926

11.0%

11

Luxembourg

CAD 925

11.1%

12

Russia

CAD 905

13.0%

13

Hungary

CAD 848

18.5%

14

Ukraine

CAD 837

19.5%

15

Poland

CAD 817

21.5%

16

Greece

CAD 813

21.9%

17

Portugal

CAD 774

25.6%

18

Finland

CAD 720

30.8%

19

Belgium

CAD 707

32.0%

20

Netherlands

CAD 654

37.1%

21

Denmark

CAD 615

40.8%

22

Romania

CAD 608

41.5%

23

North America

Canada

CAD 1,019

2.0%

1

USA

CAD 950

8.7%

2

Asia / Pacific

Australia

CAD 1,040

0.0%

1

Singapore

CAD 1,040

0.0%

2

Hong Kong

CAD 1,040

0.0%

3

Pakistan

CAD 1,025

1.5%

4

Thailand

CAD 988

5.0%

5

Indonesia

CAD 949

8.8%

6

Taiwan

CAD 948

8.9%

7

Philippines

CAD 944

9.2%

8

South Korea

CAD 929

10.7%

9

New Zealand

CAD 916

11.9%

10

India

CAD 915

12.0%

11

Malaysia

CAD 911

12.4%

12

China

CAD 903

13.2%

13

Vietnam

CAD 884

15.0%

14

Japan

CAD 845

18.7%

15

Kazakhstan

CAD 824

20.8%

16

Latin America

Mexico

CAD 1,015

2.4%

1

Brazil

CAD 962

7.5%

2

Puerto Rico

CAD 957

8.0%

3

Colombia

CAD 957

8.0%

4

Ecuador

CAD 942

9.5%

5

Guatemala

CAD 940

9.6%

6

Costa Rica

CAD 931

10.5%

7

Panama

CAD 926

11.0%

8

Peru

CAD 910

12.5%

9

Argentina

CAD 863

17.0%

10

Chile

CAD 857

17.6%

11

Uruguay

CAD 852

18.1%

12

Africa

South Africa

CAD 1,030

1.0%

1

Uganda

CAD 983

5.5%

2

Zambia

CAD 978

6.0%

3

Morocco

CAD 970

6.7%

4

Ivory Coast

CAD 960

7.7%

5

Senegal

CAD 940

9.6%

6

Kenya

CAD 907

12.8%

7

Ghana

CAD 900

13.4%

8

Mozambique

CAD 887

14.7%

9

Cameroon

CAD 877

15.6%

10

Angola

CAD 826

20.6%

11

Nigeria

CAD 819

21.3%

12

Middle East

Saudi Arabia

CAD 1,040

0.0%

1

United Arab Emirates

CAD 988

5.0%

2

Qatar

CAD 988

5.0%

3

Bahrain

CAD 957

8.0%

4

Oman

CAD 957

8.0%

5

Kuwait

CAD 926

11.0%

6

Lebanon

CAD 916

11.9%

7

Egypt

CAD 908

12.7%

8

Israel

CAD 903

13.2%

9

Turkey

CAD 876

15.8%

10

NOTE* Withholding is calculated based on the Ontario 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.

Income tax calculator Ontario

Find out how much your salary is after tax