Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$18,508
Federal tax deduction
- $2,411
Provincial tax deduction
- $877
CPP deduction
- $855
EI deduction
- $292
Total tax
- $4,436
Net pay
* $14,072
Marginal tax rate
25.9%
Average tax rate
24.0%
76.0%
Net pay
24.0%
Total tax
Total tax
Net pay
Summary
If you make $18,508 a year living in the region of Ontario, Canada, you will be taxed $4,436. That means that your net pay will be $14,072 per year, or $1,173 per month. Your average tax rate is 24.0% 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.