Summary
If you make $120,848 a year living in the region of Alberta, Canada, you will be taxed $38,370. That means that your net pay will be $82,478 per year, or $6,873 per month. Your average tax rate is 31.8% and your marginal tax rate is 36.0%. 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 $36, hence, your net pay will only increase by $64.
Bonus Example
A $1,000 bonus will generate an extra $640 of net incomes. A $5,000 bonus will generate an extra $3,200 of net incomes.