Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$64,029
Federal tax deduction
- $9,512
Provincial tax deduction
- $3,571
CPP deduction
- $3,446
EI deduction
- $952
Total tax
- $17,480
Net pay
* $46,549
Marginal tax rate
32.7%
Average tax rate
27.3%
72.7%
Net pay
27.3%
Total tax
Total tax
Net pay
Summary
If you make $64,029 a year living in the region of British Columbia, Canada, you will be taxed $17,480. That means that your net pay will be $46,549 per year, or $3,879 per month. Your average tax rate is 27.3% and your marginal tax rate is 32.7%. 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 $32.74, hence, your net pay will only increase by $67.26.
Bonus Example
A $1,000 bonus will generate an extra $673 of net incomes. A $5,000 bonus will generate an extra $3,363 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.