Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$47,840
Federal tax deduction
- $6,490
Provincial tax deduction
- $2,873
CPP deduction
- $2,527
EI deduction
- $756
Total tax
- $12,647
Net pay
* $35,193
Marginal tax rate
32.0%
Average tax rate
26.4%
73.6%
Net pay
26.4%
Total tax
Total tax
Net pay
The Taxberg
$35,193
Net pay
$3,586
Tax the employer pays
$12,647
Tax you pay
Total tax paid
$16,233
Did you know your employer also pays tax on your salary? It costs the employer $3,586 to pay you $47,840. In other words, every time you spend $10 of your hard-earned money, $3.39 goes to the government.
Real tax rate
31.6%
So, with you and the employer both paying tax, what used to be a 26.4% tax rate now rises to 31.6%, meaning your real tax rate is actually 5.2% higher than what it seemed at first.
People also ask
$47,840 yearly is how much per hour?
$24.53 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $47,840 a year living in the region of Ontario, Canada, you will be taxed $12,647. That means that your net pay will be $35,193 per year, or $2,933 per month. Your average tax rate is 26.4% 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
$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
$56,500
$57,000
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 36,248
24.2%
1
British Columbia
CAD 35,686
25.4%
2
Northwest Territories
CAD 35,368
26.1%
3
Yukon
CAD 35,297
26.2%
4
Ontario
CAD 35,193
26.4%
5
Quebec
CAD 34,275
28.4%
6
New Brunswick
CAD 33,718
29.5%
7
Newfoundland and Labrador
CAD 33,686
29.6%
8
Alberta
CAD 33,611
29.7%
9
Saskatchewan
CAD 33,351
30.3%
10
Prince Edward Island
CAD 33,065
30.9%
11
Manitoba
CAD 32,992
31.0%
12
Nova Scotia
CAD 33,026
31.0%
13
Show more
Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 42,095
12.0%
1
Russia
CAD 41,621
13.0%
2
Ireland
CAD 40,307
15.8%
3
United Kingdom
CAD 39,419
17.6%
4
France
CAD 39,299
17.9%
5
Hungary
CAD 38,990
18.5%
6
Ukraine
CAD 38,511
19.5%
7
Norway
CAD 37,435
21.8%
8
Czech Republic
CAD 37,205
22.2%
9
Luxembourg
CAD 36,986
22.7%
10
Spain
CAD 36,526
23.7%
11
Austria
CAD 35,476
25.8%
12
Sweden
CAD 33,870
29.2%
13
Greece
CAD 33,287
30.4%
14
Germany
CAD 32,480
32.1%
15
Denmark
CAD 32,216
32.7%
16
Poland
CAD 32,123
32.9%
17
Italy
CAD 31,426
34.3%
18
Finland
CAD 30,557
36.1%
19
Netherlands
CAD 30,105
37.1%
20
Portugal
CAD 29,353
38.6%
21
Romania
CAD 27,986
41.5%
22
Belgium
CAD 25,170
47.4%
23
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North America
Country 
Net pay
Average tax
Rank
USA
CAD 38,711
19.1%
1
Canada
CAD 35,193
26.4%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 44,349
7.3%
1
Taiwan
CAD 42,499
11.2%
2
Thailand
CAD 41,025
14.2%
3
Australia
CAD 40,044
16.3%
4
South Korea
CAD 39,390
17.7%
5
New Zealand
CAD 38,618
19.3%
6
Kazakhstan
CAD 38,386
19.8%
7
Indonesia
CAD 37,408
21.8%
8
Singapore
CAD 37,271
22.1%
9
Pakistan
CAD 37,019
22.6%
10
Japan
CAD 36,555
23.6%
11
Malaysia
CAD 36,139
24.5%
12
Philippines
CAD 35,270
26.3%
13
Vietnam
CAD 33,838
29.3%
14
China
CAD 31,953
33.2%
15
India
CAD 30,399
36.5%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 43,253
9.6%
1
Puerto Rico
CAD 41,452
13.4%
2
Costa Rica
CAD 41,249
13.8%
3
Ecuador
CAD 40,022
16.3%
4
Panama
CAD 38,491
19.5%
5
Chile
CAD 38,280
20.0%
6
Colombia
CAD 38,159
20.2%
7
Peru
CAD 36,277
24.2%
8
Mexico
CAD 36,105
24.5%
9
Brazil
CAD 35,466
25.9%
10
Uruguay
CAD 34,121
28.7%
11
Argentina
CAD 31,086
35.0%
12
Show more
Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 36,373
24.0%
1
Angola
CAD 35,045
26.8%
2
Kenya
CAD 34,194
28.5%
3
Mozambique
CAD 34,177
28.6%
4
Ghana
CAD 33,036
31.0%
5
Nigeria
CAD 32,714
31.6%
6
Ivory Coast
CAD 32,594
31.9%
7
Morocco
CAD 32,138
32.8%
8
Uganda
CAD 31,289
34.6%
9
Cameroon
CAD 30,844
35.5%
10
Senegal
CAD 30,297
36.7%
11
Zambia
CAD 29,828
37.7%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 45,448
5.0%
1
Qatar
CAD 45,448
5.0%
2
Bahrain
CAD 44,013
8.0%
3
Oman
CAD 44,013
8.0%
4
Saudi Arabia
CAD 43,056
10.0%
5
Kuwait
CAD 42,578
11.0%
6
Israel
CAD 39,225
18.0%
7
Egypt
CAD 36,265
24.2%
8
Lebanon
CAD 36,144
24.5%
9
Turkey
CAD 28,129
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.