Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$24,080
Federal tax deduction
- $3,186
Provincial tax deduction
- $2,117
CPP deduction
- $1,173
EI deduction
- $380
Total tax
- $6,857
Net pay
* $17,223
Marginal tax rate
29.9%
Average tax rate
28.5%
71.5%
Net pay
28.5%
Total tax
Total tax
Net pay
Summary
If you make $24,080 a year living in the region of New Brunswick, Canada, you will be taxed $6,857. That means that your net pay will be $17,223 per year, or $1,435 per month. Your average tax rate is 28.5% and your marginal tax rate is 29.9%. 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 $29.90, hence, your net pay will only increase by $70.10.
Bonus Example
A $1,000 bonus will generate an extra $701 of net incomes. A $5,000 bonus will generate an extra $3,505 of net incomes.
NOTE* Withholding is calculated based on the New Brunswick 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.