2023 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$122,000.00
Salary
$122,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$35,574.52
Federal Tax
$19,861.99
Provincial Tax
$10,955.63
CPP Contributions
$3,754.45
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$1,002.45
Net Pay
$86,425.48
Marginal Tax Rate
43.4%
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
Monthly Salary
Total Income
$10,166.67
Salary
$10,166.67
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$2,964.54
Federal Tax
$1,655.17
Provincial Tax
$912.97
CPP Contributions
$312.87
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$83.54
Net Pay
$7,202.12
Marginal Tax Rate
43.4%
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
Biweekly Salary
Total Income
$4,692.31
Salary
$4,692.31
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$1,368.25
Federal Tax
$763.92
Provincial Tax
$421.37
CPP Contributions
$144.40
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$38.56
Net Pay
$3,324.06
Marginal Tax Rate
43.4%
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
Weekly Salary
Total Income
$2,346.15
Salary
$2,346.15
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$684.13
Federal Tax
$381.96
Provincial Tax
$210.69
CPP Contributions
$72.20
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$19.28
Net Pay
$1,662.03
Marginal Tax Rate
43.4%
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
Daily Salary
Total Income
$469.23
Salary
$469.23
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$136.83
Federal Tax
$76.39
Provincial Tax
$42.14
CPP Contributions
$14.44
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$3.86
Net Pay
$332.41
Marginal Tax Rate
43.4%
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
Hourly Salary
Total Income
$62.56
Salary
$62.56
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$18.24
Federal Tax
$10.19
Provincial Tax
$5.62
CPP Contributions
$1.93
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.51
Net Pay
$44.32
Marginal Tax Rate
43.4%
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
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
$122,000.00
Total Deductions
$31,142.79
Net Pay
$90,857.21
Average Tax Rate
21.63%
Comprehensive Deduction Rate
25.53%
Total Income
$122,000.00
Total Deductions
$33,143.15
Net Pay
$88,856.85
Average Tax Rate
23.27%
Comprehensive Deduction Rate
27.17%
Total Income
$122,000.00
Total Deductions
$33,169.38
Net Pay
$88,830.62
Average Tax Rate
23.29%
Comprehensive Deduction Rate
27.19%
Total Income
$122,000.00
Total Deductions
$33,477.20
Net Pay
$88,522.80
Average Tax Rate
23.54%
Comprehensive Deduction Rate
27.44%
Total Income
$122,000.00
Total Deductions
$34,273.34
Net Pay
$87,726.66
Average Tax Rate
24.19%
Comprehensive Deduction Rate
28.09%
Total Income
$122,000.00
Total Deductions
$35,574.52
Net Pay
$86,425.48
Average Tax Rate
25.26%
Comprehensive Deduction Rate
29.16%
Total Income
$122,000.00
Total Deductions
$36,552.96
Net Pay
$85,447.04
Average Tax Rate
26.06%
Comprehensive Deduction Rate
29.96%
Total Income
$122,000.00
Total Deductions
$38,445.30
Net Pay
$83,554.70
Average Tax Rate
27.61%
Comprehensive Deduction Rate
31.51%
Total Income
$122,000.00
Total Deductions
$39,122.29
Net Pay
$82,877.71
Average Tax Rate
28.17%
Comprehensive Deduction Rate
32.07%
Total Income
$122,000.00
Total Deductions
$39,325.02
Net Pay
$82,674.98
Average Tax Rate
28.33%
Comprehensive Deduction Rate
32.23%
Total Income
$122,000.00
Total Deductions
$40,559.31
Net Pay
$81,440.69
Average Tax Rate
29.35%
Comprehensive Deduction Rate
33.25%
Total Income
$122,000.00
Total Deductions
$41,219.03
Net Pay
$80,780.97
Average Tax Rate
29.89%
Comprehensive Deduction Rate
33.79%
Total Income
$122,000.00
Total Deductions
$41,809.94
Net Pay
$80,190.06
Average Tax Rate
29.95%
Comprehensive Deduction Rate
34.27%
| Region | Total Income | Total Deductions | Net Pay | Avg. Tax Rate | Comp. Deduction Rate |
|---|---|---|---|---|---|
| Nunavut | $122,000.00 | $31,142.79 | $90,857.21 | 21.63% | 25.53% |
| British Columbia | $122,000.00 | $33,143.15 | $88,856.85 | 23.27% | 27.17% |
| Yukon | $122,000.00 | $33,169.38 | $88,830.62 | 23.29% | 27.19% |
| Northwest Territories | $122,000.00 | $33,477.20 | $88,522.80 | 23.54% | 27.44% |
| Alberta | $122,000.00 | $34,273.34 | $87,726.66 | 24.19% | 28.09% |
| Ontario | $122,000.00 | $35,574.52 | $86,425.48 | 25.26% | 29.16% |
| Saskatchewan | $122,000.00 | $36,552.96 | $85,447.04 | 26.06% | 29.96% |
| New Brunswick | $122,000.00 | $38,445.30 | $83,554.70 | 27.61% | 31.51% |
| Newfoundland and Labrador | $122,000.00 | $39,122.29 | $82,877.71 | 28.17% | 32.07% |
| Manitoba | $122,000.00 | $39,325.02 | $82,674.98 | 28.33% | 32.23% |
| Prince Edward Island | $122,000.00 | $40,559.31 | $81,440.69 | 29.35% | 33.25% |
| Nova Scotia | $122,000.00 | $41,219.03 | $80,780.97 | 29.89% | 33.79% |
| Quebec | $122,000.00 | $41,809.94 | $80,190.06 | 29.95% | 34.27% |
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 $122,000+/year
Pure Life Physiotherapy
Toronto, ON
$44.00 - $70.00 / hour
Permanent
30 days ago
Pure Life Physiotherapy
Ottawa, ON
$44.00 - $70.00 / hour
Permanent
30 days ago
Joanne Romas & Associates
Waterloo, ON • Remote
$165,000 - $218,000 / year
Permanent
31 days ago
Are you looking to relocate to Ontario or just browsing through cities within the province/territory?
Check out our Ontario demographics page for more information.