Federal tax deduction
Provincial tax deduction
If you make
$45,000 a year living in the region of Ontario, Canada, you will be taxed $9,323. That means that your net pay will be $35,677 per year, or $2,973 per month. Your average tax rate is 20.72% and your marginal tax rate is 36.18%. This marginal tax rate means that your immediate additional income will be taxed at this rate. For instance, an increase of $100 in your salary will be taxed $36.18, hence, your net pay will only increase by $63.82.
$1,000 bonus will generate an extra $638 of net revenues. A $5,000 bonus will generate an extra $3,191 of net revenues.
Tax per income
NOTE* Deductions are calculated based on the Ontario tables of Canada, 2018 income tax. For simplification purposes some variables (such as marital status and others) have been assumed. This document does not represent legal authority and shall be used for approximation purposes only.