Summary
If you make $197,726 a year living in the region of Alberta, Canada, you will be taxed $69,041. That means that your net pay will be $128,685 per year, or $10,724 per month. Your average tax rate is 34.9% and your marginal tax rate is 42.0%. 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 $42, hence, your net pay will only increase by $58.
Bonus Example
A $1,000 bonus will generate an extra $580 of net incomes. A $5,000 bonus will generate an extra $2,900 of net incomes.