Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$68,520
Federal tax deduction
- $10,425
Provincial tax deduction
- $4,750
CPP deduction
- $3,500
EI deduction
- $953
Total tax
- $19,627
Net pay
* $48,893
Marginal tax rate
29.7%
Average tax rate
28.6%
71.4%
Net pay
28.6%
Total tax
Total tax
Net pay
The Taxberg
$48,893
Net pay
$4,834
Tax the employer pays
$19,627
Tax you pay
Total tax paid
$24,461
Did you know your employer also pays tax on your salary? It costs the employer $4,834 to pay you $68,520. In other words, every time you spend $10 of your hard-earned money, $3.57 goes to the government.
Real tax rate
33.3%
So, with you and the employer both paying tax, what used to be a 28.6% tax rate now rises to 33.3%, meaning your real tax rate is actually 4.7% higher than what it seemed at first.
Summary
If you make $68,520 a year living in the region of Ontario, Canada, you will be taxed $19,627. That means that your net pay will be $48,893 per year, or $4,074 per month. Your average tax rate is 28.6% and your marginal tax rate is 29.7%. 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 $29.65, hence, your net pay will only increase by $70.35.
Bonus Example
A $1,000 bonus will generate an extra $704 of net incomes. A $5,000 bonus will generate an extra $3,518 of net incomes.
Compare average tax
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 50,460
26.4%
1
British Columbia
CAD 49,729
27.4%
2
Northwest Territories
CAD 49,240
28.1%
3
Yukon
CAD 49,148
28.3%
4
Ontario
CAD 48,893
28.6%
5
Alberta
CAD 47,236
31.1%
6
Saskatchewan
CAD 46,480
32.2%
7
Newfoundland and Labrador
CAD 46,366
32.3%
8
New Brunswick
CAD 46,340
32.4%
9
Quebec
CAD 46,304
32.4%
10
Manitoba
CAD 46,058
32.8%
11
Prince Edward Island
CAD 45,770
33.2%
12
Nova Scotia
CAD 45,453
33.7%
13
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Europe
Country 
Net pay
Average tax
Rank
Russia
CAD 59,612
13.0%
1
Switzerland
CAD 58,018
15.3%
2
Hungary
CAD 55,844
18.5%
3
Ukraine
CAD 55,159
19.5%
4
United Kingdom
CAD 53,222
22.3%
5
Czech Republic
CAD 52,508
23.4%
6
France
CAD 52,390
23.5%
7
Ireland
CAD 52,308
23.7%
8
Norway
CAD 51,084
25.5%
9
Spain
CAD 49,400
27.9%
10
Luxembourg
CAD 48,029
29.9%
11
Sweden
CAD 47,574
30.6%
12
Austria
CAD 47,219
31.1%
13
Denmark
CAD 46,158
32.6%
14
Greece
CAD 44,847
34.6%
15
Germany
CAD 43,315
36.8%
16
Poland
CAD 43,282
36.8%
17
Netherlands
CAD 43,120
37.1%
18
Finland
CAD 41,029
40.1%
19
Italy
CAD 40,453
41.0%
20
Romania
CAD 40,084
41.5%
21
Portugal
CAD 39,012
43.1%
22
Belgium
CAD 33,219
51.5%
23
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North America
Country 
Net pay
Average tax
Rank
USA
CAD 54,012
21.2%
1
Canada
CAD 48,893
28.6%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 61,451
10.3%
1
Taiwan
CAD 59,228
13.6%
2
Thailand
CAD 56,535
17.5%
3
Kazakhstan
CAD 55,136
19.5%
4
South Korea
CAD 55,084
19.6%
5
Australia
CAD 53,589
21.8%
6
New Zealand
CAD 52,494
23.4%
7
Singapore
CAD 52,371
23.6%
8
Indonesia
CAD 51,466
24.9%
9
Pakistan
CAD 50,770
25.9%
10
Japan
CAD 50,655
26.1%
11
Malaysia
CAD 49,571
27.7%
12
Philippines
CAD 48,786
28.8%
13
Vietnam
CAD 46,826
31.7%
14
China
CAD 45,055
34.2%
15
India
CAD 42,145
38.5%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 61,728
9.9%
1
Puerto Rico
CAD 57,028
16.8%
2
Costa Rica
CAD 57,015
16.8%
3
Chile
CAD 56,571
17.4%
4
Ecuador
CAD 54,272
20.8%
5
Panama
CAD 54,136
21.0%
6
Colombia
CAD 52,346
23.6%
7
Peru
CAD 51,263
25.2%
8
Brazil
CAD 50,459
26.4%
9
Mexico
CAD 49,967
27.1%
10
Uruguay
CAD 46,679
31.9%
11
Argentina
CAD 44,528
35.0%
12
Show more
Africa
Country 
Net pay
Average tax
Rank
Angola
CAD 50,090
26.9%
1
South Africa
CAD 48,933
28.6%
2
Kenya
CAD 48,670
29.0%
3
Mozambique
CAD 47,619
30.5%
4
Nigeria
CAD 46,780
31.7%
5
Ghana
CAD 46,715
31.8%
6
Ivory Coast
CAD 45,402
33.7%
7
Morocco
CAD 44,670
34.8%
8
Cameroon
CAD 43,435
36.6%
9
Senegal
CAD 42,705
37.7%
10
Uganda
CAD 42,663
37.7%
11
Zambia
CAD 42,547
37.9%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 65,094
5.0%
1
Qatar
CAD 65,094
5.0%
2
Bahrain
CAD 63,038
8.0%
3
Oman
CAD 63,038
8.0%
4
Saudi Arabia
CAD 61,668
10.0%
5
Kuwait
CAD 60,983
11.0%
6
Israel
CAD 53,783
21.5%
7
Egypt
CAD 51,775
24.4%
8
Lebanon
CAD 51,654
24.6%
9
Turkey
CAD 40,174
41.4%
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.