Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$47,942
Federal tax deduction
- $6,505
Provincial tax deduction
- $2,884
CPP deduction
- $2,533
EI deduction
- $757
Total tax
- $12,680
Net pay
* $35,262
Marginal tax rate
32.0%
Average tax rate
26.4%
73.6%
Net pay
26.4%
Total tax
Total tax
Net pay
The Taxberg
$35,262
Net pay
$3,594
Tax the employer pays
$12,680
Tax you pay
Total tax paid
$16,273
Did you know your employer also pays tax on your salary? It costs the employer $3,594 to pay you $47,942. 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
$47,942 yearly is how much per hour?
$24.59 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $47,942 a year living in the region of Ontario, Canada, you will be taxed $12,680. That means that your net pay will be $35,262 per year, or $2,939 per month. Your average tax rate is 26.5% 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 36,323
24.2%
1
British Columbia
CAD 35,759
25.4%
2
Northwest Territories
CAD 35,440
26.1%
3
Yukon
CAD 35,371
26.2%
4
Ontario
CAD 35,262
26.4%
5
Quebec
CAD 34,339
28.4%
6
New Brunswick
CAD 33,784
29.5%
7
Newfoundland and Labrador
CAD 33,752
29.6%
8
Alberta
CAD 33,682
29.7%
9
Saskatchewan
CAD 33,420
30.3%
10
Prince Edward Island
CAD 33,132
30.9%
11
Manitoba
CAD 33,060
31.0%
12
Nova Scotia
CAD 33,092
31.0%
13
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Europe
Country 
Net pay
Average tax
Rank
Switzerland
CAD 42,175
12.0%
1
Russia
CAD 41,710
13.0%
2
Ireland
CAD 40,380
15.8%
3
United Kingdom
CAD 39,487
17.6%
4
France
CAD 39,364
17.9%
5
Hungary
CAD 39,073
18.5%
6
Ukraine
CAD 38,593
19.5%
7
Norway
CAD 37,502
21.8%
8
Czech Republic
CAD 37,280
22.2%
9
Luxembourg
CAD 37,047
22.7%
10
Spain
CAD 36,593
23.7%
11
Austria
CAD 35,531
25.9%
12
Sweden
CAD 33,938
29.2%
13
Greece
CAD 33,350
30.4%
14
Germany
CAD 32,535
32.1%
15
Denmark
CAD 32,286
32.7%
16
Poland
CAD 32,177
32.9%
17
Italy
CAD 31,473
34.4%
18
Finland
CAD 30,609
36.2%
19
Netherlands
CAD 30,170
37.1%
20
Portugal
CAD 29,406
38.7%
21
Romania
CAD 28,046
41.5%
22
Belgium
CAD 25,201
47.4%
23
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North America
Country 
Net pay
Average tax
Rank
USA
CAD 38,787
19.1%
1
Canada
CAD 35,262
26.5%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 44,436
7.3%
1
Taiwan
CAD 42,587
11.2%
2
Thailand
CAD 41,102
14.3%
3
Australia
CAD 40,110
16.3%
4
South Korea
CAD 39,468
17.7%
5
New Zealand
CAD 38,688
19.3%
6
Kazakhstan
CAD 38,468
19.8%
7
Indonesia
CAD 37,478
21.8%
8
Singapore
CAD 37,346
22.1%
9
Pakistan
CAD 37,088
22.6%
10
Japan
CAD 36,624
23.6%
11
Malaysia
CAD 36,206
24.5%
12
Philippines
CAD 35,338
26.3%
13
Vietnam
CAD 33,902
29.3%
14
China
CAD 32,016
33.2%
15
India
CAD 30,457
36.5%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 43,345
9.6%
1
Puerto Rico
CAD 41,532
13.4%
2
Costa Rica
CAD 41,328
13.8%
3
Ecuador
CAD 40,101
16.4%
4
Panama
CAD 38,569
19.6%
5
Chile
CAD 38,369
20.0%
6
Colombia
CAD 38,231
20.3%
7
Peru
CAD 36,351
24.2%
8
Mexico
CAD 36,173
24.6%
9
Brazil
CAD 35,540
25.9%
10
Uruguay
CAD 34,183
28.7%
11
Argentina
CAD 31,153
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
South Africa
CAD 36,438
24.0%
1
Angola
CAD 35,119
26.8%
2
Kenya
CAD 34,265
28.5%
3
Mozambique
CAD 34,243
28.6%
4
Ghana
CAD 33,103
31.0%
5
Nigeria
CAD 32,783
31.6%
6
Ivory Coast
CAD 32,658
31.9%
7
Morocco
CAD 32,200
32.8%
8
Uganda
CAD 31,345
34.6%
9
Cameroon
CAD 30,906
35.5%
10
Senegal
CAD 30,359
36.7%
11
Zambia
CAD 29,891
37.7%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 45,545
5.0%
1
Qatar
CAD 45,545
5.0%
2
Bahrain
CAD 44,107
8.0%
3
Oman
CAD 44,107
8.0%
4
Saudi Arabia
CAD 43,148
10.0%
5
Kuwait
CAD 42,668
11.0%
6
Israel
CAD 39,297
18.0%
7
Egypt
CAD 36,341
24.2%
8
Lebanon
CAD 36,220
24.5%
9
Turkey
CAD 28,189
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.