Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$46,020
Federal tax deduction
- $6,237
Provincial tax deduction
- $2,677
CPP deduction
- $2,424
EI deduction
- $727
Total tax
- $12,065
Net pay
* $33,955
Marginal tax rate
32.0%
Average tax rate
26.2%
73.8%
Net pay
26.2%
Total tax
Total tax
Net pay
The Taxberg
$33,955
Net pay
$3,442
Tax the employer pays
$12,065
Tax you pay
Total tax paid
$15,507
Did you know your employer also pays tax on your salary? It costs the employer $3,442 to pay you $46,020. In other words, every time you spend $10 of your hard-earned money, $3.37 goes to the government.
Real tax rate
31.4%
So, with you and the employer both paying tax, what used to be a 26.2% tax rate now rises to 31.4%, meaning your real tax rate is actually 5.2% higher than what it seemed at first.
People also ask
$46,020 yearly is how much per hour?
$23.60 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $46,020 a year living in the region of Ontario, Canada, you will be taxed $12,065. That means that your net pay will be $33,955 per year, or $2,830 per month. Your average tax rate is 26.2% and your marginal tax rate is 32.0%. 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 $31.97, hence, your net pay will only increase by $68.03.
Bonus Example
A $1,000 bonus will generate an extra $680 of net incomes. A $5,000 bonus will generate an extra $3,402 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
$46,500
$47,000
$47,500
$48,000
$48,500
$49,000
$49,500
$50,000
$50,500
$51,000
$51,500
$52,000
$52,500
$53,000
$53,500
$54,000
$54,500
$55,000
$55,500
$56,000
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 34,904
24.2%
1
British Columbia
CAD 34,385
25.3%
2
Northwest Territories
CAD 34,078
26.0%
3
Ontario
CAD 33,955
26.2%
4
Yukon
CAD 33,971
26.2%
5
Quebec
CAD 33,126
28.0%
6
New Brunswick
CAD 32,541
29.3%
7
Newfoundland and Labrador
CAD 32,504
29.4%
8
Alberta
CAD 32,345
29.7%
9
Saskatchewan
CAD 32,117
30.2%
10
Prince Edward Island
CAD 31,869
30.7%
11
Nova Scotia
CAD 31,852
30.8%
12
Manitoba
CAD 31,776
31.0%
13
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Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 40,611
11.8%
1
Russia
CAD 40,037
13.0%
2
Ireland
CAD 39,006
15.2%
3
United Kingdom
CAD 38,204
17.0%
4
France
CAD 38,147
17.1%
5
Hungary
CAD 37,506
18.5%
6
Ukraine
CAD 37,046
19.5%
7
Norway
CAD 36,234
21.3%
8
Luxembourg
CAD 35,884
22.0%
9
Czech Republic
CAD 35,858
22.1%
10
Spain
CAD 35,339
23.2%
11
Austria
CAD 34,489
25.1%
12
Sweden
CAD 32,644
29.1%
13
Greece
CAD 32,163
30.1%
14
Germany
CAD 31,488
31.6%
15
Poland
CAD 31,122
32.4%
16
Denmark
CAD 30,975
32.7%
17
Italy
CAD 30,601
33.5%
18
Finland
CAD 29,632
35.6%
19
Netherlands
CAD 28,960
37.1%
20
Portugal
CAD 28,406
38.3%
21
Romania
CAD 26,922
41.5%
22
Belgium
CAD 24,616
46.5%
23
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 37,365
18.8%
1
Canada
CAD 33,955
26.2%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 42,775
7.1%
1
Taiwan
CAD 40,925
11.1%
2
Thailand
CAD 39,660
13.8%
3
Australia
CAD 38,851
15.6%
4
South Korea
CAD 37,989
17.5%
5
New Zealand
CAD 37,369
18.8%
6
Kazakhstan
CAD 36,911
19.8%
7
Indonesia
CAD 36,153
21.4%
8
Singapore
CAD 35,943
21.9%
9
Pakistan
CAD 35,790
22.2%
10
Japan
CAD 35,314
23.3%
11
Malaysia
CAD 34,951
24.1%
12
Philippines
CAD 34,059
26.0%
13
Vietnam
CAD 32,698
29.0%
14
China
CAD 30,825
33.0%
15
India
CAD 29,365
36.2%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 41,607
9.6%
1
Puerto Rico
CAD 40,026
13.0%
2
Costa Rica
CAD 39,846
13.4%
3
Ecuador
CAD 38,623
16.1%
4
Panama
CAD 37,115
19.4%
5
Colombia
CAD 36,886
19.9%
6
Chile
CAD 36,691
20.3%
7
Peru
CAD 34,955
24.0%
8
Mexico
CAD 34,881
24.2%
9
Brazil
CAD 34,147
25.8%
10
Uruguay
CAD 33,016
28.3%
11
Argentina
CAD 29,903
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 35,208
23.5%
1
Angola
CAD 33,721
26.7%
2
Mozambique
CAD 32,994
28.3%
3
Kenya
CAD 32,920
28.5%
4
Ghana
CAD 31,832
30.8%
5
Nigeria
CAD 31,476
31.6%
6
Ivory Coast
CAD 31,467
31.6%
7
Morocco
CAD 31,035
32.6%
8
Uganda
CAD 30,288
34.2%
9
Cameroon
CAD 29,736
35.4%
10
Senegal
CAD 29,205
36.5%
11
Zambia
CAD 28,709
37.6%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 43,719
5.0%
1
Qatar
CAD 43,719
5.0%
2
Bahrain
CAD 42,338
8.0%
3
Oman
CAD 42,338
8.0%
4
Saudi Arabia
CAD 41,418
10.0%
5
Kuwait
CAD 40,958
11.0%
6
Israel
CAD 37,921
17.6%
7
Egypt
CAD 34,900
24.2%
8
Lebanon
CAD 34,779
24.4%
9
Turkey
CAD 27,069
41.2%
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.