Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$38,298
Federal tax deduction
- $5,163
Provincial tax deduction
- $1,799
CPP deduction
- $1,983
EI deduction
- $605
Total tax
- $9,551
Net pay
* $28,747
Marginal tax rate
26.3%
Average tax rate
24.9%
75.1%
Net pay
24.9%
Total tax
Total tax
Net pay
Summary
If you make $38,298 a year living in the region of British Columbia, Canada, you will be taxed $9,551. That means that your net pay will be $28,747 per year, or $2,396 per month. Your average tax rate is 24.9% and your marginal tax rate is 26.4%. 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 $26.35, hence, your net pay will only increase by $73.65.
Bonus Example
A $1,000 bonus will generate an extra $737 of net incomes. A $5,000 bonus will generate an extra $3,683 of net incomes.
NOTE* Withholding is calculated based on the British Columbia 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.