Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$88,000
Federal tax deduction
- $14,418
Provincial tax deduction
- $6,870
CPP deduction
- $3,500
EI deduction
- $953
Total tax
- $25,741
Net pay
* $62,259
Marginal tax rate
31.5%
Average tax rate
29.3%
70.7%
Net pay
29.3%
Total tax
Total tax
Net pay
The Taxberg
$62,259
Net pay
$4,834
Tax the employer pays
$25,741
Tax you pay
Total tax paid
$30,575
Did you know your employer also pays tax on your salary? It costs the employer $4,834 to pay you $88,000. In other words, every time you spend $10 of your hard-earned money, $3.47 goes to the government.
Real tax rate
32.9%
So, with you and the employer both paying tax, what used to be a 29.3% tax rate now rises to 32.9%, meaning your real tax rate is actually 3.6% higher than what it seemed at first.
Summary
If you make $88,000 a year living in the region of Ontario, Canada, you will be taxed $25,741. That means that your net pay will be $62,259 per year, or $5,188 per month. Your average tax rate is 29.3% and your marginal tax rate is 31.5%. 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 $31.48, hence, your net pay will only increase by $68.52.
Bonus Example
A $1,000 bonus will generate an extra $685 of net incomes. A $5,000 bonus will generate an extra $3,426 of net incomes.
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 64,583
26.6%
1
British Columbia
CAD 63,651
27.7%
2
Northwest Territories
CAD 63,051
28.4%
3
Yukon
CAD 62,882
28.5%
4
Ontario
CAD 62,259
29.3%
5
Alberta
CAD 60,775
30.9%
6
Saskatchewan
CAD 59,532
32.4%
7
New Brunswick
CAD 58,937
33.0%
8
Newfoundland and Labrador
CAD 58,901
33.1%
9
Manitoba
CAD 58,430
33.6%
10
Quebec
CAD 58,474
33.6%
11
Prince Edward Island
CAD 58,004
34.1%
12
Nova Scotia
CAD 57,692
34.4%
13
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Europe
Country 
Net pay
Average tax
Rank
Russia
CAD 76,560
13.0%
1
Switzerland
CAD 72,461
17.7%
2
Hungary
CAD 71,720
18.5%
3
Ukraine
CAD 70,840
19.5%
4
Czech Republic
CAD 66,923
24.0%
5
United Kingdom
CAD 66,225
24.7%
6
France
CAD 64,721
26.5%
7
Norway
CAD 63,312
28.1%
8
Ireland
CAD 62,340
29.2%
9
Spain
CAD 61,447
30.2%
10
Denmark
CAD 58,903
33.1%
11
Austria
CAD 57,317
34.9%
12
Sweden
CAD 57,316
34.9%
13
Luxembourg
CAD 56,965
35.3%
14
Netherlands
CAD 55,378
37.1%
15
Poland
CAD 54,494
38.1%
16
Greece
CAD 54,338
38.3%
17
Germany
CAD 52,840
40.0%
18
Romania
CAD 51,480
41.5%
19
Finland
CAD 50,253
42.9%
20
Italy
CAD 49,601
43.6%
21
Portugal
CAD 47,583
45.9%
22
Belgium
CAD 40,565
53.9%
23
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North America
Country 
Net pay
Average tax
Rank
USA
CAD 67,265
23.6%
1
Canada
CAD 62,259
29.3%
2
Asia / Pacific
Country 
Net pay
Average tax
Rank
Hong Kong
CAD 77,616
11.8%
1
Taiwan
CAD 74,510
15.3%
2
Kazakhstan
CAD 70,915
19.4%
3
Thailand
CAD 70,776
19.6%
4
South Korea
CAD 68,987
21.6%
5
Singapore
CAD 68,961
21.6%
6
Australia
CAD 66,348
24.6%
7
New Zealand
CAD 65,275
25.8%
8
Japan
CAD 64,756
26.4%
9
Indonesia
CAD 64,670
26.5%
10
Pakistan
CAD 63,432
27.9%
11
China
CAD 62,522
29.0%
12
Malaysia
CAD 62,235
29.3%
13
Philippines
CAD 61,513
30.1%
14
Vietnam
CAD 59,488
32.4%
15
India
CAD 50,980
42.1%
16
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Latin America
Country 
Net pay
Average tax
Rank
Guatemala
CAD 78,969
10.3%
1
Chile
CAD 72,528
17.6%
2
Costa Rica
CAD 71,544
18.7%
3
Puerto Rico
CAD 70,148
20.3%
4
Panama
CAD 68,011
22.7%
5
Ecuador
CAD 67,702
23.1%
6
Peru
CAD 64,830
26.3%
7
Colombia
CAD 64,691
26.5%
8
Brazil
CAD 64,582
26.6%
9
Uruguay
CAD 64,154
27.1%
10
Mexico
CAD 62,655
28.8%
11
Argentina
CAD 57,190
35.0%
12
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Africa
Country 
Net pay
Average tax
Rank
Angola
CAD 64,261
27.0%
1
Kenya
CAD 62,306
29.2%
2
South Africa
CAD 60,427
31.3%
3
Mozambique
CAD 60,281
31.5%
4
Nigeria
CAD 60,031
31.8%
5
Ghana
CAD 59,601
32.3%
6
Ivory Coast
CAD 58,384
33.7%
7
Morocco
CAD 56,475
35.8%
8
Cameroon
CAD 55,296
37.2%
9
Zambia
CAD 54,527
38.0%
10
Senegal
CAD 54,393
38.2%
11
Uganda
CAD 53,377
39.3%
12
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Middle East
Country 
Net pay
Average tax
Rank
United Arab Emirates
CAD 83,600
5.0%
1
Qatar
CAD 83,600
5.0%
2
Bahrain
CAD 80,960
8.0%
3
Oman
CAD 80,960
8.0%
4
Saudi Arabia
CAD 79,200
10.0%
5
Kuwait
CAD 78,476
10.8%
6
Egypt
CAD 66,385
24.6%
7
Lebanon
CAD 66,264
24.7%
8
Israel
CAD 66,011
25.0%
9
Turkey
CAD 51,519
41.5%
10
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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.