Summary
If you make $79,996 a year living in the region of Ontario, Canada, you will be taxed $23,221. That means that your net pay will be $56,775 per year, or $4,731 per month. Your average tax rate is 29.0% and your marginal tax rate is 31.4%. 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 $31.44, hence, your net pay will only increase by $68.56.
Bonus Example
A $1,000 bonus will generate an extra $686 of net incomes. A $5,000 bonus will generate an extra $3,428 of net incomes.