Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$88,998
Federal tax deduction
- $14,623
Provincial tax deduction
- $6,337
CPP deduction
- $3,500
EI deduction
- $953
Total tax
- $25,413
Net pay
* $63,585
Marginal tax rate
29.5%
Average tax rate
28.6%
71.4%
Net pay
28.6%
Total tax
Total tax
Net pay
The Taxberg
$63,585
Net pay
$4,834
Tax the employer pays
$25,413
Tax you pay
Total tax paid
$30,246
Did you know your employer also pays tax on your salary? It costs the employer $4,834 to pay you $88,998. In other words, every time you spend $10 of your hard-earned money, $3.40 goes to the government.
Real tax rate
32.2%
So, with you and the employer both paying tax, what used to be a 28.6% tax rate now rises to 32.2%, meaning your real tax rate is actually 3.6% higher than what it seemed at first.
Summary
If you make $88,998 a year living in the region of Yukon, Canada, you will be taxed $25,413. That means that your net pay will be $63,585 per year, or $5,299 per month. Your average tax rate is 28.6% and your marginal tax rate is 29.5%. 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 $29.50, hence, your net pay will only increase by $70.50.
Bonus Example
A $1,000 bonus will generate an extra $705 of net incomes. A $5,000 bonus will generate an extra $3,525 of net incomes.
Tax per region
Region
Net pay
Average tax
Rank
Nunavut
CAD 65,307
26.6%
1
British Columbia
CAD 64,346
27.7%
2
Northwest Territories
CAD 63,759
28.4%
3
Yukon
CAD 63,585
28.6%
4
Ontario
CAD 62,943
29.3%
5
Alberta
CAD 61,468
30.9%
6
Saskatchewan
CAD 60,201
32.4%
7
New Brunswick
CAD 59,582
33.1%
8
Newfoundland and Labrador
CAD 59,536
33.1%
9
Quebec
CAD 59,099
33.6%
10
Manitoba
CAD 59,050
33.7%
11
Prince Edward Island
CAD 58,630
34.1%
12
Nova Scotia
CAD 58,319
34.5%
13
Show more
North America
Country 
Net pay
Average tax
Rank
USA
CAD 67,904
23.7%
1
Canada
CAD 62,943
29.3%
2
NOTE* Withholding is calculated based on the Yukon 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.