Summary
If you make $79,961 a year living in the region of Ontario, Canada, you will be taxed $23,211. That means that your net pay will be $56,750 per year, or $4,729 per month. Your average tax rate is 29.0% and your marginal tax rate is 31.1%. 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 $31.09, hence, your net pay will only increase by $68.91.
Bonus Example
A $1,000 bonus will generate an extra $689 of net incomes. A $5,000 bonus will generate an extra $3,446 of net incomes.