Summary
If you make $49,920 a year living in the region of Alberta, Canada, you will be taxed $14,863. That means that your net pay will be $35,057 per year, or $2,921 per month. Your average tax rate is 29.8% 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 $31.52, hence, your net pay will only increase by $68.48.
Bonus Example
A $1,000 bonus will generate an extra $685 of net incomes. A $5,000 bonus will generate an extra $3,424 of net incomes.