Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$40,317
Federal tax deduction
- $5,444
Provincial tax deduction
- $2,348
CPP deduction
- $2,099
EI deduction
- $637
Total tax
- $10,528
Net pay
* $29,789
Marginal tax rate
25.9%
Average tax rate
26.1%
73.9%
Net pay
26.1%
Total tax
Total tax
Net pay
The Taxberg
$29,789
Net pay
$2,990
Tax the employer pays
$10,528
Tax you pay
Total tax paid
$13,518
Did you know your employer also pays tax on your salary? It costs the employer $2,990 to pay you $40,317. In other words, every time you spend $10 of your hard-earned money, $3.35 goes to the government.
Real tax rate
31.2%
So, with you and the employer both paying tax, what used to be a 26.1% tax rate now rises to 31.2%, meaning your real tax rate is actually 5.1% higher than what it seemed at first.
People also ask
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Summary
If you make $40,317 a year living in the region of Ontario, Canada, you will be taxed $10,528. That means that your net pay will be $29,789 per year, or $2,482 per month. Your average tax rate is 26.1% 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.
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
$40,500
$41,000
$41,500
$42,000
$42,500
$43,000
$43,500
$44,000
$44,500
$45,000
$45,500
$46,000
$46,500
$47,000
$47,500
$48,000
$48,500
$49,000
$49,500
$50,000
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 30,634
24.0%
1
British Columbia
CAD 30,232
25.0%
2
Northwest Territories
CAD 29,920
25.8%
3
Ontario
CAD 29,789
26.1%
4
Yukon
CAD 29,814
26.1%
5
Quebec
CAD 29,410
27.1%
6
Newfoundland and Labrador
CAD 28,800
28.6%
7
New Brunswick
CAD 28,604
29.1%
8
Alberta
CAD 28,379
29.6%
9
Nova Scotia
CAD 28,173
30.1%
10
Saskatchewan
CAD 28,191
30.1%
11
Prince Edward Island
CAD 28,121
30.3%
12
Manitoba
CAD 27,963
30.6%
13
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 33,145
17.8%
1
Canada
CAD 29,789
26.1%
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.