2023 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$120,000.00
Salary
$120,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$34,706.32
Federal Tax
$19,341.99
Provincial Tax
$10,607.43
CPP Contributions
$3,754.45
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$1,002.45
Net Pay
$85,293.68
Marginal Tax Rate
43.41%
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Monthly Salary
Total Income
$10,000.00
Salary
$10,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$2,892.19
Federal Tax
$1,611.83
Provincial Tax
$883.95
CPP Contributions
$312.87
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$83.54
Net Pay
$7,107.81
Marginal Tax Rate
43.41%
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Biweekly Salary
Total Income
$4,615.38
Salary
$4,615.38
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$1,334.86
Federal Tax
$743.92
Provincial Tax
$407.98
CPP Contributions
$144.40
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$38.56
Net Pay
$3,280.53
Marginal Tax Rate
43.41%
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Weekly Salary
Total Income
$2,307.69
Salary
$2,307.69
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$667.43
Federal Tax
$371.96
Provincial Tax
$203.99
CPP Contributions
$72.20
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$19.28
Net Pay
$1,640.26
Marginal Tax Rate
43.41%
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Daily Salary
Total Income
$461.54
Salary
$461.54
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$133.49
Federal Tax
$74.39
Provincial Tax
$40.80
CPP Contributions
$14.44
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$3.86
Net Pay
$328.05
Marginal Tax Rate
43.41%
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Hourly Salary
Total Income
$61.54
Salary
$61.54
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$17.80
Federal Tax
$9.92
Provincial Tax
$5.44
CPP Contributions
$1.93
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.51
Net Pay
$43.74
Marginal Tax Rate
43.41%
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Federal and Provincial/Territorial Tax Brackets
Your taxable income in the following tax brackets.
| Federal Tax Bracket | Federal Tax Rates |
|---|---|
| $53,359.00 or less | 15% |
| $53,359.00 - $106,716.99 | 20.5% |
| $106,717.00 - $165,429.99 | 26% |
| $165,430.00 - $235,674.99 | 29% |
| More than $235,675.00 | 33% |
| Ontario Tax Bracket | Ontario Tax Rates |
|---|---|
| $49,231.00 or less | 5.05% |
| $49,231.00 - $98,462.99 | 9.15% |
| $98,463.00 - $149,999.99 | 11.16% |
| $150,000.00 - $219,999.99 | 12.16% |
| More than $220,000.00 | 13.16% |
Annual Income Tax by Province/Territory
Total Income
$120,000.00
Total Deductions
$30,442.79
Net Pay
$89,557.21
Average Tax Rate
21.4%
Comprehensive Deduction Rate
25.37%
Total Income
$120,000.00
Total Deductions
$32,377.35
Net Pay
$87,622.65
Average Tax Rate
23.02%
Comprehensive Deduction Rate
26.98%
Total Income
$120,000.00
Total Deductions
$32,431.38
Net Pay
$87,568.62
Average Tax Rate
23.06%
Comprehensive Deduction Rate
27.03%
Total Income
$120,000.00
Total Deductions
$32,713.20
Net Pay
$87,286.80
Average Tax Rate
23.3%
Comprehensive Deduction Rate
27.26%
Total Income
$120,000.00
Total Deductions
$33,553.34
Net Pay
$86,446.66
Average Tax Rate
24%
Comprehensive Deduction Rate
27.96%
Total Income
$120,000.00
Total Deductions
$34,706.32
Net Pay
$85,293.68
Average Tax Rate
24.96%
Comprehensive Deduction Rate
28.92%
Total Income
$120,000.00
Total Deductions
$35,782.96
Net Pay
$84,217.04
Average Tax Rate
25.86%
Comprehensive Deduction Rate
29.82%
Total Income
$120,000.00
Total Deductions
$37,605.30
Net Pay
$82,394.70
Average Tax Rate
27.37%
Comprehensive Deduction Rate
31.34%
Total Income
$120,000.00
Total Deductions
$38,286.29
Net Pay
$81,713.71
Average Tax Rate
27.94%
Comprehensive Deduction Rate
31.91%
Total Income
$120,000.00
Total Deductions
$38,457.02
Net Pay
$81,542.98
Average Tax Rate
28.08%
Comprehensive Deduction Rate
32.05%
Total Income
$120,000.00
Total Deductions
$39,671.91
Net Pay
$80,328.09
Average Tax Rate
29.1%
Comprehensive Deduction Rate
33.06%
Total Income
$120,000.00
Total Deductions
$40,349.03
Net Pay
$79,650.97
Average Tax Rate
29.66%
Comprehensive Deduction Rate
33.62%
Total Income
$120,000.00
Total Deductions
$40,880.35
Net Pay
$79,119.65
Average Tax Rate
29.68%
Comprehensive Deduction Rate
34.07%
| Region | Total Income | Total Deductions | Net Pay | Avg. Tax Rate | Comp. Deduction Rate |
|---|---|---|---|---|---|
| Nunavut | $120,000.00 | $30,442.79 | $89,557.21 | 21.4% | 25.37% |
| British Columbia | $120,000.00 | $32,377.35 | $87,622.65 | 23.02% | 26.98% |
| Yukon | $120,000.00 | $32,431.38 | $87,568.62 | 23.06% | 27.03% |
| Northwest Territories | $120,000.00 | $32,713.20 | $87,286.80 | 23.3% | 27.26% |
| Alberta | $120,000.00 | $33,553.34 | $86,446.66 | 24% | 27.96% |
| Ontario | $120,000.00 | $34,706.32 | $85,293.68 | 24.96% | 28.92% |
| Saskatchewan | $120,000.00 | $35,782.96 | $84,217.04 | 25.86% | 29.82% |
| New Brunswick | $120,000.00 | $37,605.30 | $82,394.70 | 27.37% | 31.34% |
| Newfoundland and Labrador | $120,000.00 | $38,286.29 | $81,713.71 | 27.94% | 31.91% |
| Manitoba | $120,000.00 | $38,457.02 | $81,542.98 | 28.08% | 32.05% |
| Prince Edward Island | $120,000.00 | $39,671.91 | $80,328.09 | 29.1% | 33.06% |
| Nova Scotia | $120,000.00 | $40,349.03 | $79,650.97 | 29.66% | 33.62% |
| Quebec | $120,000.00 | $40,880.35 | $79,119.65 | 29.68% | 34.07% |
This tool was designed for approximation purposes only and should not be used to replace legal or accounting authority. For the purpose of simplifying the process, a number of variables have been assumed to calculate the figures included on this page. The results of this calculator should not be relied upon for determining career and/or tax decisions.
Jobs paying $120,000+/year
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