Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$24,242
Federal tax deduction
- $3,208
Provincial tax deduction
- $2,132
CPP deduction
- $1,182
EI deduction
- $383
Total tax
- $6,905
Net pay
* $17,337
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 $24,242 a year living in the region of New Brunswick, Canada, you will be taxed $6,905. That means that your net pay will be $17,337 per year, or $1,445 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 $29.91, hence, your net pay will only increase by $70.09.
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.