Income Tax Calculator Ontario

Find out how much your salary is after tax

Enter your gross income

Salary rate

Withholding

Salary $58,500

EI deduction - $924

CPP deduction - $3,135

Federal tax deduction - $8,430

Provincial tax deduction - $3,853

Total tax - $16,342

Net pay * $42,158

Marginal tax rate 35.5%

Average tax rate 27.9%

27.9%Total tax

72.1%

Net pay

The Taxberg

$42,158

Net pay

$4,429

Tax the employer pays

$16,342

Tax you pay

Total tax paid

$20,771

Did you know your employer also pays tax on your salary? It costs the employer $4,429 to pay you $58,500. In other words, every time you spend $10 of your hard-earned money, $3.55 goes to the government.

Real tax rate

33%

So, with you and the employer both paying tax, what used to be a 27.9% tax rate now rises to 33%, meaning your real tax rate is actually 5.1% higher than what it seemed at first.

Summary

If you make $58,500 a year living in the region of Ontario, Canada, you will be taxed $16,342. That means that your net pay will be $42,158 per year, or $3,513 per month. Your average tax rate is 27.9% and your marginal tax rate is 35.5%. 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 $35.5, hence, your net pay will only increase by $64.5.

Bonus Example

A $1,000 bonus will generate an extra $645 of net incomes. A $5,000 bonus will generate an extra $3,225 of net incomes.

Province

AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland and LabradorNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon

Tax per income

$58,500$59,000$59,500$60,000$60,500$61,000$61,500$62,000$62,500$63,000$63,500$64,000$64,500$65,000$65,500$66,000$66,500$67,000$67,500$68,000

Tax per region

Country	Net pay	Average tax	Rank
Nunavut	CAD 43,515	25.6%	1
British Columbia	CAD 42,849	26.8%	2
Northwest Territories	CAD 42,447	27.4%	3
Manitoba	CAD 39,662	32.2%	11
Prince Edward Island	CAD 39,615	32.3%	12
Nova Scotia	CAD 39,435	32.6%	13

NOTE* Withholding is calculated based on the Ontario tables of CA, 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.