Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,328
Federal tax deduction
- $5,724
Provincial tax deduction
- $2,442
CPP deduction
- $2,213
EI deduction
- $669
Total tax
- $11,048
Net pay
* $31,280
Marginal tax rate
25.9%
Average tax rate
26.1%
73.9%
Net pay
26.1%
Total tax
Total tax
Net pay
The Taxberg
$31,280
Net pay
$3,149
Tax the employer pays
$11,048
Tax you pay
Total tax paid
$14,197
Did you know your employer also pays tax on your salary? It costs the employer $3,149 to pay you $42,328. 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
$42,328 yearly is how much per hour?
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Summary
If you make $42,328 a year living in the region of Ontario, Canada, you will be taxed $11,048. That means that your net pay will be $31,280 per year, or $2,607 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
Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 37,560
11.3%
1
Russia
CAD 36,825
13.0%
2
Ireland
CAD 36,366
14.1%
3
United Kingdom
CAD 35,739
15.6%
4
France
CAD 35,515
16.1%
5
Hungary
CAD 34,497
18.5%
6
Ukraine
CAD 34,074
19.5%
7
Norway
CAD 33,797
20.2%
8
Luxembourg
CAD 33,529
20.8%
9
Czech Republic
CAD 33,126
21.7%
10
Spain
CAD 32,924
22.2%
11
Austria
CAD 32,534
23.1%
12
Sweden
CAD 30,163
28.7%
13
Greece
CAD 29,882
29.4%
14
Germany
CAD 29,443
30.4%
15
Italy
CAD 28,991
31.5%
16
Poland
CAD 28,765
32.0%
17
Denmark
CAD 28,447
32.8%
18
Finland
CAD 27,575
34.9%
19
Netherlands
CAD 26,637
37.1%
20
Portugal
CAD 26,486
37.4%
21
Romania
CAD 24,762
41.5%
22
Belgium
CAD 23,497
44.5%
23
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Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 39,579
6.5%
1
Taiwan
CAD 37,734
10.9%
2
Thailand
CAD 36,891
12.8%
3
Australia
CAD 36,433
13.9%
4
South Korea
CAD 35,133
17.0%
5
New Zealand
CAD 34,836
17.7%
6
Kazakhstan
CAD 33,921
19.9%
7
Indonesia
CAD 33,525
20.8%
8
Pakistan
CAD 33,298
21.3%
9
Singapore
CAD 33,254
21.4%
10
Japan
CAD 32,798
22.5%
11
Malaysia
CAD 32,561
23.1%
12
Philippines
CAD 31,588
25.4%
13
Vietnam
CAD 30,385
28.2%
14
China
CAD 28,536
32.6%
15
India
CAD 27,268
35.6%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 38,269
9.6%
1
Puerto Rico
CAD 37,133
12.3%
2
Costa Rica
CAD 36,914
12.8%
3
Ecuador
CAD 35,783
15.5%
4
Panama
CAD 34,322
18.9%
5
Colombia
CAD 34,301
19.0%
6
Chile
CAD 33,837
20.1%
7
Mexico
CAD 32,399
23.5%
8
Peru
CAD 32,274
23.8%
9
Brazil
CAD 31,470
25.7%
10
Uruguay
CAD 30,576
27.8%
11
Argentina
CAD 27,504
35.0%
12
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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.