Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$24,940
Federal tax deduction
- $3,306
Provincial tax deduction
- $1,474
CPP deduction
- $1,222
EI deduction
- $394
Total tax
- $6,396
Net pay
* $18,544
Marginal tax rate
29.5%
Average tax rate
25.6%
74.4%
Net pay
25.6%
Total tax
Total tax
Net pay
The Taxberg
$18,544
Net pay
$1,774
Tax the employer pays
$6,396
Tax you pay
Total tax paid
$8,170
Did you know your employer also pays tax on your salary? It costs the employer $1,774 to pay you $24,940. In other words, every time you spend $10 of your hard-earned money, $3.28 goes to the government.
Real tax rate
30.6%
So, with you and the employer both paying tax, what used to be a 25.6% tax rate now rises to 30.6%, meaning your real tax rate is actually 5% higher than what it seemed at first.
People also ask
$24,940 yearly is how much per hour?
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What is the average salary in Canada?
Summary
If you make $24,940 a year living in the region of Ontario, Canada, you will be taxed $6,396. That means that your net pay will be $18,544 per year, or $1,545 per month. Your average tax rate is 25.7% and your marginal tax rate is 29.5%. 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 $29.47, hence, your net pay will only increase by $70.53.
Bonus Example
A $1,000 bonus will generate an extra $705 of net incomes. A $5,000 bonus will generate an extra $3,527 of net incomes.
Compare average tax
Region
Alberta
British Columbia
Manitoba
New Brunswick
Newfoundland and Labrador
Northwest Territories
Nova Scotia
Nunavut
Ontario
Prince Edward Island
Quebec
Saskatchewan
Yukon
Tax per income
$24,500
$25,000
$25,500
$26,000
$26,500
$27,000
$27,500
$28,000
$28,500
$29,000
$29,500
$30,000
$30,500
$31,000
$31,500
$32,000
$32,500
$33,000
$33,500
$34,000
North America
Country 
Net pay
Average tax
Rank
USA
CAD 21,577
13.5%
1
Canada
CAD 18,544
25.7%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 23,671
5.1%
1
Australia
CAD 23,021
7.7%
2
Thailand
CAD 22,798
8.6%
3
Taiwan
CAD 22,686
9.0%
4
South Korea
CAD 21,538
13.6%
5
Pakistan
CAD 21,174
15.1%
6
New Zealand
CAD 21,042
15.6%
7
Indonesia
CAD 20,875
16.3%
8
Malaysia
CAD 20,848
16.4%
9
Japan
CAD 20,078
19.5%
10
Singapore
CAD 19,878
20.3%
11
Kazakhstan
CAD 19,837
20.5%
12
Philippines
CAD 19,821
20.5%
13
Vietnam
CAD 18,889
24.3%
14
China
CAD 17,604
29.4%
15
India
CAD 17,392
30.3%
16
Show more
Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 20,958
16.0%
1
Mozambique
CAD 18,725
24.9%
2
Angola
CAD 18,385
26.3%
3
Morocco
CAD 18,192
27.1%
4
Kenya
CAD 18,164
27.2%
5
Ivory Coast
CAD 17,924
28.1%
6
Ghana
CAD 17,887
28.3%
7
Nigeria
CAD 17,137
31.3%
8
Cameroon
CAD 16,901
32.2%
9
Uganda
CAD 16,621
33.4%
10
Senegal
CAD 16,422
34.2%
11
Zambia
CAD 15,745
36.9%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 23,693
5.0%
1
Qatar
CAD 23,693
5.0%
2
Bahrain
CAD 22,945
8.0%
3
Oman
CAD 22,945
8.0%
4
Saudi Arabia
CAD 22,446
10.0%
5
Kuwait
CAD 22,197
11.0%
6
Israel
CAD 21,660
13.2%
7
Egypt
CAD 19,090
23.5%
8
Lebanon
CAD 18,969
23.9%
9
Turkey
CAD 14,253
42.9%
10
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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.