Summary
If you make $40,000 a year living in the region of Nova Scotia, Canada, you will be taxed $12,031. That means that your net pay will be $27,969 per year, or $2,331 per month. Your average tax rate is 30.1% and your marginal tax rate is 35.5%. 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 $35.50, hence, your net pay will only increase by $64.50.
Bonus Example
A $1,000 bonus will generate an extra $645 of net incomes. A $5,000 bonus will generate an extra $3,225 of net incomes.