Income tax calculator Ontario
Find out how much your salary is after tax
Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$5,994
Federal tax deduction
- $671
Provincial tax deduction
- $67.63
CPP deduction
- $142
EI deduction
- $94.71
Total tax
- $975
Net pay
*
$5,019
Marginal tax rate
30.4%
Average tax rate
16.3%
83.7%
Net pay
16.3%
Total tax
Total tax
Net pay
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The Taxberg
$5,019
Net pay
$275
Tax the employer pays
$975
Tax you pay
Total tax paid
$1,250
Did you know your employer also pays tax on your salary? It costs the employer $275 to pay you $5,994. In other words, every time you spend $10 of your hard-earned money, $2.09 goes to the government.
Real tax rate
19.9%
So, with you and the employer both paying tax, what used to be a 16.3% tax rate now rises to 19.9%, meaning your real tax rate is actually 3.6% higher than what it seemed at first.
Summary
If you make $5,994 a year living in the region of Ontario, Canada, you will be taxed $975. That means that your net pay will be $5,019 per year, or $418 per month. Your average tax rate is 16.3% and your marginal tax rate is 30.4%. 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 $30.40, hence, your net pay will only increase by $69.60.
Bonus Example
A $1,000 bonus will generate an extra $696 of net incomes. A $5,000 bonus will generate an extra $3,480 of net incomes.
Compare average tax
North America
Country
Net pay
Average tax
Rank
USA
CAD 5,475
8.7%
1
Canada
CAD 5,019
16.3%
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.