Income tax calculator Ontario
Find out how much your salary is after tax
Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$14,968
Federal tax deduction
- $1,919
Provincial tax deduction
- $711
CPP deduction
- $654
EI deduction
- $236
Total tax
- $3,520
Net pay
*
$11,448
Marginal tax rate
25.9%
Average tax rate
23.5%
76.5%
Net pay
23.5%
Total tax
Total tax
Net pay
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The Taxberg
$11,448
Net pay
$985
Tax the employer pays
$3,520
Tax you pay
Total tax paid
$4,504
Did you know your employer also pays tax on your salary? It costs the employer $985 to pay you $14,968. In other words, every time you spend $10 of your hard-earned money, $3.01 goes to the government.
Real tax rate
28.2%
So, with you and the employer both paying tax, what used to be a 23.5% tax rate now rises to 28.2%, meaning your real tax rate is actually 4.7% higher than what it seemed at first.
Summary
If you make $14,968 a year living in the region of Ontario, Canada, you will be taxed $3,520. That means that your net pay will be $11,448 per year, or $954 per month. Your average tax rate is 23.5% 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 $25.87, hence, your net pay will only increase by $74.13.
Bonus Example
A $1,000 bonus will generate an extra $741 of net incomes. A $5,000 bonus will generate an extra $3,707 of net incomes.
Compare average tax
North America
Country
Net pay
Average tax
Rank
USA
CAD 13,517
9.7%
1
Canada
CAD 11,448
23.5%
2
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.