Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$16,021
Federal tax deduction
- $2,065
Provincial tax deduction
- $760
CPP deduction
- $714
EI deduction
- $253
Total tax
- $3,792
Net pay
* $12,229
Marginal tax rate
25.9%
Average tax rate
23.7%
76.3%
Net pay
23.7%
Total tax
Total tax
Net pay
Summary
If you make $16,021 a year living in the region of Ontario, Canada, you will be taxed $3,792. That means that your net pay will be $12,229 per year, or $1,019 per month. Your average tax rate is 23.7% 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.
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.