Income Tax Calculator Ontario
Find out how much your salary is after tax
Salary rate
Withholding
Salary $2,000
EI deduction - $32
Federal tax deduction - $102
Total tax - $134
Net pay * $1,866
Marginal tax rate 16.3%
Average tax rate 6.7%
6.7%Total tax
93.3%
Net payThe Taxberg
$1,866
Net pay
$44
Tax the employer pays
$134
Tax you pay
Total tax paid
$178
Did you know your employer also pays tax on your salary? It costs the employer $44 to pay you $2,000. In other words, every time you spend $10 of your hard-earned money, $0.89 goes to the government.
Real tax rate
8.7%
So, with you and the employer both paying tax, what used to be a 6.7% tax rate now rises to 8.7%, meaning your real tax rate is actually 2% higher than what it seemed at first.
People also ask$2,000 yearly is how much per hour?$1 hourly is how much per year?What is the average salary in Canada?
Summary
If you make $2,000 a year living in the region of Ontario, Canada, you will be taxed $134. That means that your net pay will be $1,866 per year, or $156 per month. Your average tax rate is 6.7% and your marginal tax rate is 16.3%. 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 $16.3, hence, your net pay will only increase by $83.7.
Bonus ExampleA $1,000 bonus will generate an extra $837 of net incomes. A $5,000 bonus will generate an extra $4,185 of net incomes.
| Country | Net pay | Average tax | Rank |
|---|---|---|---|
| Quebec | CAD 1,881 | 5.9% | 1 |
| British Columbia | CAD 1,866 | 6.7% | 2 |
| Ontario | CAD 1,866 | 6.7% | 3 |
| Alberta | CAD 1,669 | 16.5% | 11 |
| Saskatchewan | CAD 1,660 | 17.0% | 12 |
| Manitoba | CAD 1,654 | 17.3% | 13 |
NOTE* Withholding is calculated based on the Ontario 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.