Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,320
Federal tax deduction
- $5,723
Provincial tax deduction
- $2,442
CPP deduction
- $2,213
EI deduction
- $669
Total tax
- $11,046
Net pay
* $31,274
Marginal tax rate
25.9%
Average tax rate
26.1%
73.9%
Net pay
26.1%
Total tax
Total tax
Net pay
The Taxberg
$31,274
Net pay
$3,149
Tax the employer pays
$11,046
Tax you pay
Total tax paid
$14,195
Did you know your employer also pays tax on your salary? It costs the employer $3,149 to pay you $42,320. 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
$42,320 yearly is how much per hour?
$21.70 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $42,320 a year living in the region of Ontario, Canada, you will be taxed $11,046. That means that your net pay will be $31,274 per year, or $2,606 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 32,138
24.1%
1
British Columbia
CAD 31,697
25.1%
2
Northwest Territories
CAD 31,389
25.8%
3
Ontario
CAD 31,274
26.1%
4
Yukon
CAD 31,274
26.1%
5
Quebec
CAD 30,724
27.4%
6
Newfoundland and Labrador
CAD 30,101
28.9%
7
New Brunswick
CAD 30,006
29.1%
8
Alberta
CAD 29,772
29.7%
9
Saskatchewan
CAD 29,575
30.1%
10
Nova Scotia
CAD 29,465
30.4%
11
Prince Edward Island
CAD 29,437
30.4%
12
Manitoba
CAD 29,302
30.8%
13
Show more
Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 37,553
11.3%
1
Russia
CAD 36,818
13.0%
2
Ireland
CAD 36,360
14.1%
3
United Kingdom
CAD 35,734
15.6%
4
France
CAD 35,509
16.1%
5
Hungary
CAD 34,491
18.5%
6
Ukraine
CAD 34,068
19.5%
7
Norway
CAD 33,792
20.2%
8
Luxembourg
CAD 33,524
20.8%
9
Czech Republic
CAD 33,120
21.7%
10
Spain
CAD 32,919
22.2%
11
Austria
CAD 32,530
23.1%
12
Sweden
CAD 30,157
28.7%
13
Greece
CAD 29,877
29.4%
14
Germany
CAD 29,439
30.4%
15
Italy
CAD 28,987
31.5%
16
Poland
CAD 28,759
32.0%
17
Denmark
CAD 28,441
32.8%
18
Finland
CAD 27,570
34.9%
19
Netherlands
CAD 26,632
37.1%
20
Portugal
CAD 26,482
37.4%
21
Romania
CAD 24,757
41.5%
22
Belgium
CAD 23,495
44.5%
23
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 34,627
18.2%
1
Canada
CAD 31,274
26.1%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 39,572
6.5%
1
Taiwan
CAD 37,727
10.9%
2
Thailand
CAD 36,885
12.8%
3
Australia
CAD 36,428
13.9%
4
South Korea
CAD 35,127
17.0%
5
New Zealand
CAD 34,831
17.7%
6
Kazakhstan
CAD 33,914
19.9%
7
Indonesia
CAD 33,519
20.8%
8
Pakistan
CAD 33,293
21.3%
9
Singapore
CAD 33,248
21.4%
10
Japan
CAD 32,793
22.5%
11
Malaysia
CAD 32,555
23.1%
12
Philippines
CAD 31,583
25.4%
13
Vietnam
CAD 30,380
28.2%
14
China
CAD 28,531
32.6%
15
India
CAD 27,264
35.6%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 38,262
9.6%
1
Puerto Rico
CAD 37,127
12.3%
2
Costa Rica
CAD 36,908
12.8%
3
Ecuador
CAD 35,777
15.5%
4
Panama
CAD 34,316
18.9%
5
Colombia
CAD 34,296
19.0%
6
Chile
CAD 33,831
20.1%
7
Mexico
CAD 32,394
23.5%
8
Peru
CAD 32,268
23.8%
9
Brazil
CAD 31,464
25.7%
10
Uruguay
CAD 30,570
27.8%
11
Argentina
CAD 27,498
35.0%
12
Show more
Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 32,840
22.4%
1
Angola
CAD 31,029
26.7%
2
Mozambique
CAD 30,589
27.7%
3
Kenya
CAD 30,330
28.3%
4
Ghana
CAD 29,384
30.6%
5
Ivory Coast
CAD 29,176
31.1%
6
Nigeria
CAD 28,959
31.6%
7
Morocco
CAD 28,793
32.0%
8
Uganda
CAD 27,918
34.0%
9
Cameroon
CAD 27,483
35.1%
10
Senegal
CAD 26,985
36.2%
11
Zambia
CAD 26,434
37.5%
12
Show more
Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 40,204
5.0%
1
Qatar
CAD 40,204
5.0%
2
Bahrain
CAD 38,934
8.0%
3
Oman
CAD 38,934
8.0%
4
Saudi Arabia
CAD 38,088
10.0%
5
Kuwait
CAD 37,665
11.0%
6
Israel
CAD 35,247
16.7%
7
Egypt
CAD 32,125
24.1%
8
Lebanon
CAD 32,004
24.4%
9
Turkey
CAD 24,915
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.