Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,612
Federal tax deduction
- $5,763
Provincial tax deduction
- $2,455
CPP deduction
- $2,229
EI deduction
- $673
Total tax
- $11,121
Net pay
* $31,491
Marginal tax rate
25.9%
Average tax rate
26.1%
73.9%
Net pay
26.1%
Total tax
Total tax
Net pay
The Taxberg
$31,491
Net pay
$3,172
Tax the employer pays
$11,121
Tax you pay
Total tax paid
$14,293
Did you know your employer also pays tax on your salary? It costs the employer $3,172 to pay you $42,612. 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
$42,612 yearly is how much per hour?
$21.85 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $42,612 a year living in the region of Ontario, Canada, you will be taxed $11,121. That means that your net pay will be $31,491 per year, or $2,624 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 $25.88, hence, your net pay will only increase by $74.12.
Bonus Example
A $1,000 bonus will generate an extra $741 of net incomes. A $5,000 bonus will generate an extra $3,706 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 32,358
24.1%
1
British Columbia
CAD 31,910
25.1%
2
Northwest Territories
CAD 31,603
25.8%
3
Ontario
CAD 31,491
26.1%
4
Yukon
CAD 31,487
26.1%
5
Quebec
CAD 30,915
27.4%
6
Newfoundland and Labrador
CAD 30,291
28.9%
7
New Brunswick
CAD 30,210
29.1%
8
Alberta
CAD 29,975
29.7%
9
Saskatchewan
CAD 29,777
30.1%
10
Nova Scotia
CAD 29,654
30.4%
11
Prince Edward Island
CAD 29,629
30.5%
12
Manitoba
CAD 29,497
30.8%
13
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Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 37,794
11.3%
1
Russia
CAD 37,072
13.0%
2
Ireland
CAD 36,569
14.2%
3
United Kingdom
CAD 35,929
15.7%
4
France
CAD 35,733
16.1%
5
Hungary
CAD 34,729
18.5%
6
Ukraine
CAD 34,303
19.5%
7
Norway
CAD 33,985
20.3%
8
Luxembourg
CAD 33,717
20.9%
9
Czech Republic
CAD 33,336
21.8%
10
Spain
CAD 33,110
22.3%
11
Austria
CAD 32,682
23.3%
12
Sweden
CAD 30,353
28.8%
13
Greece
CAD 30,057
29.5%
14
Germany
CAD 29,602
30.5%
15
Italy
CAD 29,111
31.7%
16
Poland
CAD 28,946
32.1%
17
Denmark
CAD 28,641
32.8%
18
Finland
CAD 27,743
34.9%
19
Netherlands
CAD 26,816
37.1%
20
Portugal
CAD 26,634
37.5%
21
Romania
CAD 24,928
41.5%
22
Belgium
CAD 23,583
44.7%
23
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 34,843
18.2%
1
Canada
CAD 31,491
26.1%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 39,826
6.5%
1
Taiwan
CAD 37,979
10.9%
2
Thailand
CAD 37,104
12.9%
3
Australia
CAD 36,619
14.1%
4
South Korea
CAD 35,353
17.0%
5
New Zealand
CAD 35,031
17.8%
6
Kazakhstan
CAD 34,151
19.9%
7
Indonesia
CAD 33,732
20.8%
8
Pakistan
CAD 33,490
21.4%
9
Singapore
CAD 33,461
21.5%
10
Japan
CAD 32,992
22.6%
11
Malaysia
CAD 32,744
23.2%
12
Philippines
CAD 31,780
25.4%
13
Vietnam
CAD 30,563
28.3%
14
China
CAD 28,712
32.6%
15
India
CAD 27,430
35.6%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 38,526
9.6%
1
Puerto Rico
CAD 37,356
12.3%
2
Costa Rica
CAD 37,143
12.8%
3
Ecuador
CAD 36,002
15.5%
4
Panama
CAD 34,536
19.0%
5
Colombia
CAD 34,500
19.0%
6
Chile
CAD 34,052
20.1%
7
Mexico
CAD 32,590
23.5%
8
Peru
CAD 32,480
23.8%
9
Brazil
CAD 31,676
25.7%
10
Uruguay
CAD 30,781
27.8%
11
Argentina
CAD 27,688
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 33,027
22.5%
1
Angola
CAD 31,242
26.7%
2
Mozambique
CAD 30,778
27.8%
3
Kenya
CAD 30,534
28.3%
4
Ghana
CAD 29,577
30.6%
5
Ivory Coast
CAD 29,357
31.1%
6
Nigeria
CAD 29,158
31.6%
7
Morocco
CAD 28,970
32.0%
8
Uganda
CAD 28,107
34.0%
9
Cameroon
CAD 27,661
35.1%
10
Senegal
CAD 27,161
36.3%
11
Zambia
CAD 26,613
37.6%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 40,481
5.0%
1
Qatar
CAD 40,481
5.0%
2
Bahrain
CAD 39,203
8.0%
3
Oman
CAD 39,203
8.0%
4
Saudi Arabia
CAD 38,351
10.0%
5
Kuwait
CAD 37,925
11.0%
6
Israel
CAD 35,462
16.8%
7
Egypt
CAD 32,344
24.1%
8
Lebanon
CAD 32,223
24.4%
9
Turkey
CAD 25,085
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.