Summary
If you make $199,974 a year living in the region of Ontario, Canada, you will be taxed $75,473. That means that your net pay will be $124,501 per year, or $10,375 per month. Your average tax rate is 37.7% and your marginal tax rate is 51.3%. 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 $51.32, hence, your net pay will only increase by $48.68.
Bonus Example
A $1,000 bonus will generate an extra $487 of net incomes. A $5,000 bonus will generate an extra $2,434 of net incomes.