Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$42,077
Federal tax deduction
- $5,689
Provincial tax deduction
- $2,005
CPP deduction
- $2,199
EI deduction
- $665
Total tax
- $10,558
Net pay
* $31,519
Marginal tax rate
26.9%
Average tax rate
25.1%
74.9%
Net pay
25.1%
Total tax
Total tax
Net pay
Summary
If you make $42,077 a year living in the region of British Columbia, Canada, you will be taxed $10,558. That means that your net pay will be $31,519 per year, or $2,627 per month. Your average tax rate is 25.1% and your marginal tax rate is 26.9%. 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 $26.90, hence, your net pay will only increase by $73.10.
Bonus Example
A $1,000 bonus will generate an extra $731 of net incomes. A $5,000 bonus will generate an extra $3,655 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.