Summary
If you make $79,981 a year living in the region of Ontario, Canada, you will be taxed $23,217. That means that your net pay will be $56,764 per year, or $4,730 per month. Your average tax rate is 29.0% and your marginal tax rate is 31.3%. 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 $31.29, hence, your net pay will only increase by $68.71.
Bonus Example
A $1,000 bonus will generate an extra $687 of net incomes. A $5,000 bonus will generate an extra $3,436 of net incomes.