Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,994
Federal tax deduction
- $5,816
Provincial tax deduction
- $2,473
CPP deduction
- $2,251
EI deduction
- $679
Total tax
- $11,220
Net pay
* $31,774
Marginal tax rate
25.9%
Average tax rate
26.1%
73.9%
Net pay
26.1%
Total tax
Total tax
Net pay
The Taxberg
$31,774
Net pay
$3,202
Tax the employer pays
$11,220
Tax you pay
Total tax paid
$14,422
Did you know your employer also pays tax on your salary? It costs the employer $3,202 to pay you $42,994. 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
$42,994 yearly is how much per hour?
$22.05 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $42,994 a year living in the region of Ontario, Canada, you will be taxed $11,220. That means that your net pay will be $31,774 per year, or $2,648 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 32,645
24.1%
1
British Columbia
CAD 32,189
25.1%
2
Northwest Territories
CAD 31,883
25.8%
3
Ontario
CAD 31,774
26.1%
4
Yukon
CAD 31,765
26.1%
5
Quebec
CAD 31,166
27.5%
6
Newfoundland and Labrador
CAD 30,539
29.0%
7
New Brunswick
CAD 30,478
29.1%
8
Alberta
CAD 30,241
29.7%
9
Saskatchewan
CAD 30,040
30.1%
10
Nova Scotia
CAD 29,900
30.5%
11
Prince Edward Island
CAD 29,880
30.5%
12
Manitoba
CAD 29,753
30.8%
13
Show more
Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 38,110
11.4%
1
Russia
CAD 37,405
13.0%
2
Ireland
CAD 36,842
14.3%
3
United Kingdom
CAD 36,184
15.8%
4
France
CAD 36,027
16.2%
5
Hungary
CAD 35,040
18.5%
6
Ukraine
CAD 34,610
19.5%
7
Norway
CAD 34,237
20.4%
8
Luxembourg
CAD 33,969
21.0%
9
Czech Republic
CAD 33,619
21.8%
10
Spain
CAD 33,361
22.4%
11
Austria
CAD 32,881
23.5%
12
Sweden
CAD 30,609
28.8%
13
Greece
CAD 30,293
29.5%
14
Germany
CAD 29,816
30.7%
15
Italy
CAD 29,273
31.9%
16
Poland
CAD 29,190
32.1%
17
Denmark
CAD 28,903
32.8%
18
Finland
CAD 27,969
35.0%
19
Netherlands
CAD 27,056
37.1%
20
Portugal
CAD 26,832
37.6%
21
Romania
CAD 25,151
41.5%
22
Belgium
CAD 23,699
44.9%
23
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 35,126
18.3%
1
Canada
CAD 31,774
26.1%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 40,156
6.6%
1
Taiwan
CAD 38,310
10.9%
2
Thailand
CAD 37,391
13.0%
3
Australia
CAD 36,869
14.3%
4
South Korea
CAD 35,648
17.1%
5
New Zealand
CAD 35,293
17.9%
6
Kazakhstan
CAD 34,460
19.9%
7
Indonesia
CAD 34,009
20.9%
8
Pakistan
CAD 33,748
21.5%
9
Singapore
CAD 33,739
21.5%
10
Japan
CAD 33,252
22.7%
11
Malaysia
CAD 32,990
23.3%
12
Philippines
CAD 32,038
25.5%
13
Vietnam
CAD 30,802
28.4%
14
China
CAD 28,949
32.7%
15
India
CAD 27,647
35.7%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 38,872
9.6%
1
Puerto Rico
CAD 37,655
12.4%
2
Costa Rica
CAD 37,451
12.9%
3
Ecuador
CAD 36,296
15.6%
4
Panama
CAD 34,825
19.0%
5
Colombia
CAD 34,768
19.1%
6
Chile
CAD 34,342
20.1%
7
Mexico
CAD 32,847
23.6%
8
Peru
CAD 32,757
23.8%
9
Brazil
CAD 31,953
25.7%
10
Uruguay
CAD 31,058
27.8%
11
Argentina
CAD 27,936
35.0%
12
Show more
Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 33,272
22.6%
1
Angola
CAD 31,519
26.7%
2
Mozambique
CAD 31,027
27.8%
3
Kenya
CAD 30,802
28.4%
4
Ghana
CAD 29,830
30.6%
5
Ivory Coast
CAD 29,593
31.2%
6
Nigeria
CAD 29,418
31.6%
7
Morocco
CAD 29,202
32.1%
8
Uganda
CAD 28,356
34.1%
9
Cameroon
CAD 27,894
35.1%
10
Senegal
CAD 27,390
36.3%
11
Zambia
CAD 26,848
37.6%
12
Show more
Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 40,844
5.0%
1
Qatar
CAD 40,844
5.0%
2
Bahrain
CAD 39,554
8.0%
3
Oman
CAD 39,554
8.0%
4
Saudi Arabia
CAD 38,695
10.0%
5
Kuwait
CAD 38,265
11.0%
6
Israel
CAD 35,737
16.9%
7
Egypt
CAD 32,630
24.1%
8
Lebanon
CAD 32,509
24.4%
9
Turkey
CAD 25,307
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.