Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$47,888
Federal tax deduction
- $6,497
Provincial tax deduction
- $2,879
CPP deduction
- $2,530
EI deduction
- $757
Total tax
- $12,662
Net pay
* $35,226
Marginal tax rate
32.0%
Average tax rate
26.4%
73.6%
Net pay
26.4%
Total tax
Total tax
Net pay
The Taxberg
$35,226
Net pay
$3,589
Tax the employer pays
$12,662
Tax you pay
Total tax paid
$16,252
Did you know your employer also pays tax on your salary? It costs the employer $3,589 to pay you $47,888. 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
$47,888 yearly is how much per hour?
$24.56 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $47,888 a year living in the region of Ontario, Canada, you will be taxed $12,662. That means that your net pay will be $35,226 per year, or $2,935 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 36,283
24.2%
1
British Columbia
CAD 35,720
25.4%
2
Northwest Territories
CAD 35,402
26.1%
3
Yukon
CAD 35,332
26.2%
4
Ontario
CAD 35,226
26.4%
5
Quebec
CAD 34,305
28.4%
6
New Brunswick
CAD 33,749
29.5%
7
Newfoundland and Labrador
CAD 33,717
29.6%
8
Alberta
CAD 33,644
29.7%
9
Saskatchewan
CAD 33,383
30.3%
10
Prince Edward Island
CAD 33,097
30.9%
11
Manitoba
CAD 33,024
31.0%
12
Nova Scotia
CAD 33,057
31.0%
13
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 38,747
19.1%
1
Canada
CAD 35,226
26.4%
2
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.