Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,120
Federal tax deduction
- $5,695
Provincial tax deduction
- $2,432
CPP deduction
- $2,201
EI deduction
- $666
Total tax
- $10,994
Net pay
* $31,126
Marginal tax rate
25.9%
Average tax rate
26.1%
73.9%
Net pay
26.1%
Total tax
Total tax
Net pay
The Taxberg
$31,126
Net pay
$3,133
Tax the employer pays
$10,994
Tax you pay
Total tax paid
$14,127
Did you know your employer also pays tax on your salary? It costs the employer $3,133 to pay you $42,120. 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
$42,120 yearly is how much per hour?
$21.60 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $42,120 a year living in the region of Ontario, Canada, you will be taxed $10,994. That means that your net pay will be $31,126 per year, or $2,594 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.
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
$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
$50,500
$51,000
$51,500
$52,000
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 31,988
24.1%
1
British Columbia
CAD 31,550
25.1%
2
Northwest Territories
CAD 31,242
25.8%
3
Ontario
CAD 31,126
26.1%
4
Yukon
CAD 31,128
26.1%
5
Quebec
CAD 30,593
27.4%
6
Newfoundland and Labrador
CAD 29,971
28.8%
7
New Brunswick
CAD 29,866
29.1%
8
Alberta
CAD 29,633
29.6%
9
Saskatchewan
CAD 29,437
30.1%
10
Nova Scotia
CAD 29,336
30.4%
11
Prince Edward Island
CAD 29,306
30.4%
12
Manitoba
CAD 29,169
30.7%
13
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Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 37,388
11.2%
1
Russia
CAD 36,644
13.0%
2
Ireland
CAD 36,217
14.0%
3
United Kingdom
CAD 35,600
15.5%
4
France
CAD 35,355
16.1%
5
Hungary
CAD 34,328
18.5%
6
Ukraine
CAD 33,907
19.5%
7
Norway
CAD 33,660
20.1%
8
Luxembourg
CAD 33,392
20.7%
9
Czech Republic
CAD 32,972
21.7%
10
Spain
CAD 32,788
22.2%
11
Austria
CAD 32,425
23.0%
12
Sweden
CAD 30,023
28.7%
13
Greece
CAD 29,753
29.4%
14
Germany
CAD 29,327
30.4%
15
Italy
CAD 28,903
31.4%
16
Poland
CAD 28,632
32.0%
17
Denmark
CAD 28,304
32.8%
18
Finland
CAD 27,452
34.8%
19
Netherlands
CAD 26,506
37.1%
20
Portugal
CAD 26,378
37.4%
21
Romania
CAD 24,640
41.5%
22
Belgium
CAD 23,434
44.4%
23
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 34,479
18.1%
1
Canada
CAD 31,126
26.1%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 39,393
6.5%
1
Taiwan
CAD 37,554
10.8%
2
Thailand
CAD 36,733
12.8%
3
Australia
CAD 36,297
13.8%
4
South Korea
CAD 34,971
17.0%
5
New Zealand
CAD 34,693
17.6%
6
Kazakhstan
CAD 33,752
19.9%
7
Indonesia
CAD 33,374
20.8%
8
Pakistan
CAD 33,158
21.3%
9
Singapore
CAD 33,102
21.4%
10
Japan
CAD 32,657
22.5%
11
Malaysia
CAD 32,427
23.0%
12
Philippines
CAD 31,448
25.3%
13
Vietnam
CAD 30,254
28.2%
14
China
CAD 28,407
32.6%
15
India
CAD 27,150
35.5%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 38,081
9.6%
1
Puerto Rico
CAD 36,970
12.2%
2
Costa Rica
CAD 36,747
12.8%
3
Ecuador
CAD 35,623
15.4%
4
Panama
CAD 34,164
18.9%
5
Colombia
CAD 34,156
18.9%
6
Chile
CAD 33,679
20.0%
7
Mexico
CAD 32,259
23.4%
8
Peru
CAD 32,122
23.7%
9
Brazil
CAD 31,319
25.6%
10
Uruguay
CAD 30,425
27.8%
11
Argentina
CAD 27,368
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 32,712
22.3%
1
Angola
CAD 30,884
26.7%
2
Mozambique
CAD 30,459
27.7%
3
Kenya
CAD 30,190
28.3%
4
Ghana
CAD 29,252
30.6%
5
Ivory Coast
CAD 29,052
31.0%
6
Nigeria
CAD 28,823
31.6%
7
Morocco
CAD 28,672
31.9%
8
Uganda
CAD 27,788
34.0%
9
Cameroon
CAD 27,362
35.0%
10
Senegal
CAD 26,865
36.2%
11
Zambia
CAD 26,311
37.5%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 40,014
5.0%
1
Qatar
CAD 40,014
5.0%
2
Bahrain
CAD 38,750
8.0%
3
Oman
CAD 38,750
8.0%
4
Saudi Arabia
CAD 37,908
10.0%
5
Kuwait
CAD 37,487
11.0%
6
Israel
CAD 35,096
16.7%
7
Egypt
CAD 31,975
24.1%
8
Lebanon
CAD 31,854
24.4%
9
Turkey
CAD 24,798
41.1%
10
Show more
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.