Summary
If you make $121,293 a year living in the region of Ontario, Canada, you will be taxed $39,208. That means that your net pay will be $82,085 per year, or $6,840 per month. Your average tax rate is 32.3% and your marginal tax rate is 43.4%. 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 $43.41, hence, your net pay will only increase by $56.59.
Bonus Example
A $1,000 bonus will generate an extra $566 of net incomes. A $5,000 bonus will generate an extra $2,830 of net incomes.