Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$47,232
Federal tax deduction
- $6,406
Provincial tax deduction
- $4,262
CPP deduction
- $2,493
EI deduction
- $746
Total tax
- $13,907
Net pay
* $33,325
Marginal tax rate
35.3%
Average tax rate
29.4%
70.6%
Net pay
29.4%
Total tax
Total tax
Net pay
Summary
If you make $47,232 a year living in the region of New Brunswick, Canada, you will be taxed $13,907. That means that your net pay will be $33,325 per year, or $2,777 per month. Your average tax rate is 29.4% and your marginal tax rate is 35.3%. 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 $35.33, hence, your net pay will only increase by $64.67.
Bonus Example
A $1,000 bonus will generate an extra $647 of net incomes. A $5,000 bonus will generate an extra $3,234 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.