Income tax calculator Ontario

Find out how much your salary is after tax

Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$50,988
Federal tax deduction
- $6,980
Provincial tax deduction
- $3,193
CPP deduction
- $2,707
EI deduction
- $806
Total tax
- $13,686
Net pay
* $37,302
Marginal tax rate
35.3%
Average tax rate
26.8%
73.2%
Net pay
26.8%
Total tax
Total tax
Net pay
The Taxberg
$37,302
Net pay
$3,835
Tax the employer pays
$13,686
Tax you pay
Total tax paid
$17,521
Did you know your employer also pays tax on your salary? It costs the employer $3,835 to pay you $50,988. In other words, every time you spend $10 of your hard-earned money, $3.44 goes to the government.
Real tax rate
32.0%
So, with you and the employer both paying tax, what used to be a 26.8% tax rate now rises to 32.0%, meaning your real tax rate is actually 5.2% higher than what it seemed at first.
People also ask
$50,988 yearly is how much per hour?
$26.15 hourly is how much per year?
What is the average salary in Canada?
Summary
If you make $50,988 a year living in the region of Ontario, Canada, you will be taxed $13,686. That means that your net pay will be $37,302 per year, or $3,109 per month. Your average tax rate is 26.8% and your marginal tax rate is 35.3%. 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 $35.25, hence, your net pay will only increase by $64.75.
Bonus Example
A $1,000 bonus will generate an extra $648 of net incomes. A $5,000 bonus will generate an extra $3,238 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
$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
$57,500
$58,000
$58,500
$59,000
$59,500
$60,000
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 38,502
24.5%
1
British Columbia
CAD 37,884
25.7%
2
Northwest Territories
CAD 37,544
26.4%
3
Yukon
CAD 37,514
26.4%
4
Ontario
CAD 37,302
26.8%
5
Quebec
CAD 36,194
29.0%
6
Alberta
CAD 35,748
29.9%
7
New Brunswick
CAD 35,702
30.0%
8
Newfoundland and Labrador
CAD 35,678
30.0%
9
Saskatchewan
CAD 35,425
30.5%
10
Prince Edward Island
CAD 35,082
31.2%
11
Manitoba
CAD 35,045
31.3%
12
Nova Scotia
CAD 35,004
31.3%
13
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 41,040
19.5%
1
Canada
CAD 37,302
26.8%
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.