Summary
If you make $29,172 a year living in the region of Prince Edward Island, Canada, you will be taxed $8,489. That means that your net pay will be $20,683 per year, or $1,724 per month. Your average tax rate is 29.1% and your marginal tax rate is 30.3%. 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 $30.27, hence, your net pay will only increase by $69.73.
Bonus Example
A $1,000 bonus will generate an extra $697 of net incomes. A $5,000 bonus will generate an extra $3,487 of net incomes.