Salary rate
Annual
Month
Biweekly
Weekly
Day
Hour
Withholding
Salary
$5,020
Federal tax deduction
- $535
Provincial tax deduction
- $1.36
CPP deduction
- $86.64
EI deduction
- $79.32
Total tax
- $702
Net pay
* $4,318
Marginal tax rate
28.0%
Average tax rate
14.0%
86.0%
Net pay
14.0%
Total tax
Total tax
Net pay
Summary
If you make $5,020 a year living in the region of Ontario, Canada, you will be taxed $702. That means that your net pay will be $4,318 per year, or $360 per month. Your average tax rate is 14.0% and your marginal tax rate is 28.0%. 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 $27.99, hence, your net pay will only increase by $72.01.
Bonus Example
A $1,000 bonus will generate an extra $720 of net incomes. A $5,000 bonus will generate an extra $3,601 of net incomes.
NOTE* Withholding is calculated based on the Ontario 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.