Income tax calculator Ontario
Find out how much your salary is after tax
Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$35,440
Federal tax deduction
- $4,766
Provincial tax deduction
- $1,983
CPP deduction
- $1,821
EI deduction
- $560
Total tax
- $9,129
Net pay
*
$26,311
Marginal tax rate
28.9%
Average tax rate
25.8%
74.2%
Net pay
25.8%
Total tax
Total tax
Net pay
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The Taxberg
$26,311
Net pay
$2,605
Tax the employer pays
$9,129
Tax you pay
Total tax paid
$11,734
Did you know your employer also pays tax on your salary? It costs the employer $2,605 to pay you $35,440. In other words, every time you spend $10 of your hard-earned money, $3.31 goes to the government.
Real tax rate
30.8%
So, with you and the employer both paying tax, what used to be a 25.8% tax rate now rises to 30.8%, meaning your real tax rate is actually 5% higher than what it seemed at first.
Summary
If you make $35,440 a year living in the region of Ontario, Canada, you will be taxed $9,129. That means that your net pay will be $26,311 per year, or $2,193 per month. Your average tax rate is 25.8% and your marginal tax rate is 28.9%. 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 $28.87, hence, your net pay will only increase by $71.13.
Bonus Example
A $1,000 bonus will generate an extra $711 of net incomes. A $5,000 bonus will generate an extra $3,557 of net incomes.
Compare average tax
North America
Country
Net pay
Average tax
Rank
USA
CAD 29,537
16.7%
1
Canada
CAD 26,311
25.8%
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.