2023 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$40,950.00
Salary
$40,950.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$7,965.24
Federal Tax
$3,296.91
Provincial Tax
$1,772.56
CPP Contributions
$2,228.28
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$667.49
Net Pay
$32,984.76
Marginal Tax Rate
18.65%
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
Monthly Salary
Total Income
$3,412.50
Salary
$3,412.50
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$663.77
Federal Tax
$274.74
Provincial Tax
$147.71
CPP Contributions
$185.69
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$55.62
Net Pay
$2,748.73
Marginal Tax Rate
18.65%
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
Biweekly Salary
Total Income
$1,575.00
Salary
$1,575.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$306.36
Federal Tax
$126.80
Provincial Tax
$68.18
CPP Contributions
$85.70
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$25.67
Net Pay
$1,268.64
Marginal Tax Rate
18.65%
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
Weekly Salary
Total Income
$787.50
Salary
$787.50
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$153.18
Federal Tax
$63.40
Provincial Tax
$34.09
CPP Contributions
$42.85
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$12.84
Net Pay
$634.32
Marginal Tax Rate
18.65%
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
Daily Salary
Total Income
$157.50
Salary
$157.50
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$30.64
Federal Tax
$12.68
Provincial Tax
$6.82
CPP Contributions
$8.57
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$2.57
Net Pay
$126.86
Marginal Tax Rate
18.65%
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
Hourly Salary
Total Income
$21.00
Salary
$21.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$4.08
Federal Tax
$1.69
Provincial Tax
$0.91
CPP Contributions
$1.14
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.34
Net Pay
$16.92
Marginal Tax Rate
18.65%
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
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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
$40,950.00
Total Deductions
$6,997.85
Net Pay
$33,952.15
Average Tax Rate
10.02%
Comprehensive Deduction Rate
17.09%
Total Income
$40,950.00
Total Deductions
$7,458.89
Net Pay
$33,491.11
Average Tax Rate
11.14%
Comprehensive Deduction Rate
18.21%
Total Income
$40,950.00
Total Deductions
$7,511.98
Net Pay
$33,438.02
Average Tax Rate
11.27%
Comprehensive Deduction Rate
18.34%
Total Income
$40,950.00
Total Deductions
$7,580.60
Net Pay
$33,369.40
Average Tax Rate
11.44%
Comprehensive Deduction Rate
18.51%
Total Income
$40,950.00
Total Deductions
$7,897.80
Net Pay
$33,052.20
Average Tax Rate
12.21%
Comprehensive Deduction Rate
19.29%
Total Income
$40,950.00
Total Deductions
$7,965.24
Net Pay
$32,984.76
Average Tax Rate
12.38%
Comprehensive Deduction Rate
19.45%
Total Income
$40,950.00
Total Deductions
$8,333.96
Net Pay
$32,616.04
Average Tax Rate
13.28%
Comprehensive Deduction Rate
20.35%
Total Income
$40,950.00
Total Deductions
$8,598.73
Net Pay
$32,351.27
Average Tax Rate
13.93%
Comprehensive Deduction Rate
21%
Total Income
$40,950.00
Total Deductions
$8,600.17
Net Pay
$32,349.83
Average Tax Rate
13.93%
Comprehensive Deduction Rate
21%
Total Income
$40,950.00
Total Deductions
$8,763.07
Net Pay
$32,186.93
Average Tax Rate
14.33%
Comprehensive Deduction Rate
21.4%
Total Income
$40,950.00
Total Deductions
$9,104.99
Net Pay
$31,845.01
Average Tax Rate
15.16%
Comprehensive Deduction Rate
22.23%
Total Income
$40,950.00
Total Deductions
$9,202.50
Net Pay
$31,747.50
Average Tax Rate
14.86%
Comprehensive Deduction Rate
22.47%
Total Income
$40,950.00
Total Deductions
$9,312.11
Net Pay
$31,637.89
Average Tax Rate
15.67%
Comprehensive Deduction Rate
22.74%
| Region | Total Income | Total Deductions | Net Pay | Avg. Tax Rate | Comp. Deduction Rate |
|---|---|---|---|---|---|
| Nunavut | $40,950.00 | $6,997.85 | $33,952.15 | 10.02% | 17.09% |
| Northwest Territories | $40,950.00 | $7,458.89 | $33,491.11 | 11.14% | 18.21% |
| British Columbia | $40,950.00 | $7,511.98 | $33,438.02 | 11.27% | 18.34% |
| Yukon | $40,950.00 | $7,580.60 | $33,369.40 | 11.44% | 18.51% |
| Alberta | $40,950.00 | $7,897.80 | $33,052.20 | 12.21% | 19.29% |
| Ontario | $40,950.00 | $7,965.24 | $32,984.76 | 12.38% | 19.45% |
| Saskatchewan | $40,950.00 | $8,333.96 | $32,616.04 | 13.28% | 20.35% |
| New Brunswick | $40,950.00 | $8,598.73 | $32,351.27 | 13.93% | 21% |
| Newfoundland and Labrador | $40,950.00 | $8,600.17 | $32,349.83 | 13.93% | 21% |
| Manitoba | $40,950.00 | $8,763.07 | $32,186.93 | 14.33% | 21.4% |
| Prince Edward Island | $40,950.00 | $9,104.99 | $31,845.01 | 15.16% | 22.23% |
| Quebec | $40,950.00 | $9,202.50 | $31,747.50 | 14.86% | 22.47% |
| Nova Scotia | $40,950.00 | $9,312.11 | $31,637.89 | 15.67% | 22.74% |
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.
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