2024 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$55,000.00
Salary
$55,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$11,816.94
Federal Tax
$5,143.19
Provincial Tax
$2,696.50
CPP Contributions
$3,064.25
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$913.00
Net Pay
$43,183.06
Marginal Tax Rate
22.74%
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
Monthly Salary
Total Income
$4,583.33
Salary
$4,583.33
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$984.75
Federal Tax
$428.60
Provincial Tax
$224.71
CPP Contributions
$255.35
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$76.08
Net Pay
$3,598.59
Marginal Tax Rate
22.74%
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
Biweekly Salary
Total Income
$2,115.38
Salary
$2,115.38
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$454.50
Federal Tax
$197.82
Provincial Tax
$103.71
CPP Contributions
$117.86
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$35.12
Net Pay
$1,660.89
Marginal Tax Rate
22.74%
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
Weekly Salary
Total Income
$1,057.69
Salary
$1,057.69
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$227.25
Federal Tax
$98.91
Provincial Tax
$51.86
CPP Contributions
$58.93
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$17.56
Net Pay
$830.44
Marginal Tax Rate
22.74%
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
Daily Salary
Total Income
$211.54
Salary
$211.54
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$45.45
Federal Tax
$19.78
Provincial Tax
$10.37
CPP Contributions
$11.79
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$3.51
Net Pay
$166.09
Marginal Tax Rate
22.74%
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
Hourly Salary
Total Income
$28.21
Salary
$28.21
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$6.06
Federal Tax
$2.64
Provincial Tax
$1.38
CPP Contributions
$1.57
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.47
Net Pay
$22.15
Marginal Tax Rate
22.74%
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
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% |
Annual Income Tax by Province/Territory
Total Income
$55,000.00
Total Deductions
$10,462.67
Net Pay
$44,537.33
Average Tax Rate
11.79%
Comprehensive Deduction Rate
19.02%
Total Income
$55,000.00
Total Deductions
$11,224.77
Net Pay
$43,775.23
Average Tax Rate
13.18%
Comprehensive Deduction Rate
20.41%
Total Income
$55,000.00
Total Deductions
$11,251.64
Net Pay
$43,748.36
Average Tax Rate
13.23%
Comprehensive Deduction Rate
20.46%
Total Income
$55,000.00
Total Deductions
$11,289.07
Net Pay
$43,710.93
Average Tax Rate
13.29%
Comprehensive Deduction Rate
20.53%
Total Income
$55,000.00
Total Deductions
$11,816.94
Net Pay
$43,183.06
Average Tax Rate
14.25%
Comprehensive Deduction Rate
21.49%
Total Income
$55,000.00
Total Deductions
$12,034.21
Net Pay
$42,965.79
Average Tax Rate
14.65%
Comprehensive Deduction Rate
21.88%
Total Income
$55,000.00
Total Deductions
$12,595.27
Net Pay
$42,404.73
Average Tax Rate
15.67%
Comprehensive Deduction Rate
22.9%
Total Income
$55,000.00
Total Deductions
$12,922.44
Net Pay
$42,077.56
Average Tax Rate
16.26%
Comprehensive Deduction Rate
23.5%
Total Income
$55,000.00
Total Deductions
$13,082.16
Net Pay
$41,917.84
Average Tax Rate
16.55%
Comprehensive Deduction Rate
23.79%
Total Income
$55,000.00
Total Deductions
$13,303.25
Net Pay
$41,696.75
Average Tax Rate
16.96%
Comprehensive Deduction Rate
24.19%
Total Income
$55,000.00
Total Deductions
$13,440.47
Net Pay
$41,559.53
Average Tax Rate
16.63%
Comprehensive Deduction Rate
24.44%
Total Income
$55,000.00
Total Deductions
$13,604.17
Net Pay
$41,395.83
Average Tax Rate
17.5%
Comprehensive Deduction Rate
24.73%
Total Income
$55,000.00
Total Deductions
$14,319.38
Net Pay
$40,680.62
Average Tax Rate
18.8%
Comprehensive Deduction Rate
26.04%
| Region | Total Income | Total Deductions | Net Pay | Avg. Tax Rate | Comp. Deduction Rate |
|---|---|---|---|---|---|
| Nunavut | $55,000.00 | $10,462.67 | $44,537.33 | 11.79% | 19.02% |
| Northwest Territories | $55,000.00 | $11,224.77 | $43,775.23 | 13.18% | 20.41% |
| British Columbia | $55,000.00 | $11,251.64 | $43,748.36 | 13.23% | 20.46% |
| Yukon | $55,000.00 | $11,289.07 | $43,710.93 | 13.29% | 20.53% |
| Ontario | $55,000.00 | $11,816.94 | $43,183.06 | 14.25% | 21.49% |
| Alberta | $55,000.00 | $12,034.21 | $42,965.79 | 14.65% | 21.88% |
| Saskatchewan | $55,000.00 | $12,595.27 | $42,404.73 | 15.67% | 22.9% |
| New Brunswick | $55,000.00 | $12,922.44 | $42,077.56 | 16.26% | 23.5% |
| Manitoba | $55,000.00 | $13,082.16 | $41,917.84 | 16.55% | 23.79% |
| Newfoundland and Labrador | $55,000.00 | $13,303.25 | $41,696.75 | 16.96% | 24.19% |
| Quebec | $55,000.00 | $13,440.47 | $41,559.53 | 16.63% | 24.44% |
| Prince Edward Island | $55,000.00 | $13,604.17 | $41,395.83 | 17.5% | 24.73% |
| Nova Scotia | $55,000.00 | $14,319.38 | $40,680.62 | 18.8% | 26.04% |
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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