Summary
If you make $199,980 a year living in the region of Ontario, Canada, you will be taxed $75,476. That means that your net pay will be $124,504 per year, or $10,375 per month. Your average tax rate is 37.7% and your marginal tax rate is 51.6%. 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 $51.59, hence, your net pay will only increase by $48.41.
Bonus Example
A $1,000 bonus will generate an extra $484 of net incomes. A $5,000 bonus will generate an extra $2,421 of net incomes.