2024 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$40,001.04
Salary
$40,001.04
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$7,583.47
Federal Tax
$3,046.95
Provincial Tax
$1,700.69
CPP Contributions
$2,171.81
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$664.02
Net Pay
$32,417.57
Marginal Tax Rate
18.64%
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Monthly Salary
Total Income
$3,333.42
Salary
$3,333.42
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$631.96
Federal Tax
$253.91
Provincial Tax
$141.72
CPP Contributions
$180.98
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$55.34
Net Pay
$2,701.46
Marginal Tax Rate
18.64%
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Biweekly Salary
Total Income
$1,538.50
Salary
$1,538.50
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$291.67
Federal Tax
$117.19
Provincial Tax
$65.41
CPP Contributions
$83.53
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$25.54
Net Pay
$1,246.83
Marginal Tax Rate
18.64%
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Weekly Salary
Total Income
$769.25
Salary
$769.25
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$145.84
Federal Tax
$58.60
Provincial Tax
$32.71
CPP Contributions
$41.77
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$12.77
Net Pay
$623.41
Marginal Tax Rate
18.64%
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Daily Salary
Total Income
$153.85
Salary
$153.85
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$29.17
Federal Tax
$11.72
Provincial Tax
$6.54
CPP Contributions
$8.35
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$2.55
Net Pay
$124.68
Marginal Tax Rate
18.64%
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Hourly Salary
Total Income
$20.51
Salary
$20.51
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$3.89
Federal Tax
$1.56
Provincial Tax
$0.87
CPP Contributions
$1.11
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.34
Net Pay
$16.62
Marginal Tax Rate
18.64%
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Federal and Provincial/Territorial Tax Brackets
Your taxable income in the following tax brackets.
Federal Tax Bracket | Federal Tax Rates |
---|---|
$55,867.00 or less | 15% |
$55,867.00 - $111,732.99 | 20.5% |
$111,733.00 - $173,204.99 | 26% |
$173,205.00 - $246,751.99 | 29% |
More than $246,752.00 | 33% |
Ontario Tax Bracket | Ontario Tax Rates |
---|---|
$51,446.00 or less | 5.05% |
$51,446.00 - $102,893.99 | 9.15% |
$102,894.00 - $149,999.99 | 11.16% |
$150,000.00 - $219,999.99 | 12.16% |
More than $220,000.00 | 13.16% |
Income taxes on annual salaries
Annual Income Tax by Province/Territory
Total Income
$40,001.04
Total Deductions
$6,618.71
Net Pay
$33,382.33
Average Tax Rate
9.46%
Comprehensive Deduction Rate
16.55%
Total Income
$40,001.04
Total Deductions
$7,050.52
Net Pay
$32,950.52
Average Tax Rate
10.54%
Comprehensive Deduction Rate
17.63%
Total Income
$40,001.04
Total Deductions
$7,126.79
Net Pay
$32,874.25
Average Tax Rate
10.73%
Comprehensive Deduction Rate
17.82%
Total Income
$40,001.04
Total Deductions
$7,164.53
Net Pay
$32,836.51
Average Tax Rate
10.82%
Comprehensive Deduction Rate
17.91%
Total Income
$40,001.04
Total Deductions
$7,410.80
Net Pay
$32,590.24
Average Tax Rate
11.44%
Comprehensive Deduction Rate
18.53%
Total Income
$40,001.04
Total Deductions
$7,583.47
Net Pay
$32,417.57
Average Tax Rate
11.87%
Comprehensive Deduction Rate
18.96%
Total Income
$40,001.04
Total Deductions
$7,843.57
Net Pay
$32,157.47
Average Tax Rate
12.52%
Comprehensive Deduction Rate
19.61%
Total Income
$40,001.04
Total Deductions
$8,150.17
Net Pay
$31,850.87
Average Tax Rate
13.29%
Comprehensive Deduction Rate
20.37%
Total Income
$40,001.04
Total Deductions
$8,174.98
Net Pay
$31,826.06
Average Tax Rate
13.35%
Comprehensive Deduction Rate
20.44%
Total Income
$40,001.04
Total Deductions
$8,192.38
Net Pay
$31,808.66
Average Tax Rate
13.39%
Comprehensive Deduction Rate
20.48%
Total Income
$40,001.04
Total Deductions
$8,278.10
Net Pay
$31,722.94
Average Tax Rate
13.04%
Comprehensive Deduction Rate
20.69%
Total Income
$40,001.04
Total Deductions
$8,434.01
Net Pay
$31,567.03
Average Tax Rate
14%
Comprehensive Deduction Rate
21.08%
Total Income
$40,001.04
Total Deductions
$8,860.61
Net Pay
$31,140.43
Average Tax Rate
15.06%
Comprehensive Deduction Rate
22.15%
Region | Total Income | Total Deductions | Net Pay | Average Tax Rate | Comprehensive Deduction Rate |
---|---|---|---|---|---|
Nunavut | $40,001.04 | $6,618.71 | $33,382.33 | 9.46% | 16.55% |
Northwest Territories | $40,001.04 | $7,050.52 | $32,950.52 | 10.54% | 17.63% |
British Columbia | $40,001.04 | $7,126.79 | $32,874.25 | 10.73% | 17.82% |
Yukon | $40,001.04 | $7,164.53 | $32,836.51 | 10.82% | 17.91% |
Alberta | $40,001.04 | $7,410.80 | $32,590.24 | 11.44% | 18.53% |
Ontario | $40,001.04 | $7,583.47 | $32,417.57 | 11.87% | 18.96% |
Saskatchewan | $40,001.04 | $7,843.57 | $32,157.47 | 12.52% | 19.61% |
New Brunswick | $40,001.04 | $8,150.17 | $31,850.87 | 13.29% | 20.37% |
Newfoundland and Labrador | $40,001.04 | $8,174.98 | $31,826.06 | 13.35% | 20.44% |
Manitoba | $40,001.04 | $8,192.38 | $31,808.66 | 13.39% | 20.48% |
Quebec | $40,001.04 | $8,278.10 | $31,722.94 | 13.04% | 20.69% |
Prince Edward Island | $40,001.04 | $8,434.01 | $31,567.03 | 14% | 21.08% |
Nova Scotia | $40,001.04 | $8,860.61 | $31,140.43 | 15.06% | 22.15% |
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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