2023 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$124,000.00
Salary
$124,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$36,442.71
Federal Tax
$20,381.99
Provincial Tax
$11,303.82
CPP Contributions
$3,754.45
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$1,002.45
Net Pay
$87,557.29
Marginal Tax Rate
43.41%
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
Monthly Salary
Total Income
$10,333.33
Salary
$10,333.33
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$3,036.89
Federal Tax
$1,698.50
Provincial Tax
$941.99
CPP Contributions
$312.87
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$83.54
Net Pay
$7,296.44
Marginal Tax Rate
43.41%
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
Biweekly Salary
Total Income
$4,769.23
Salary
$4,769.23
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$1,401.64
Federal Tax
$783.92
Provincial Tax
$434.76
CPP Contributions
$144.40
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$38.56
Net Pay
$3,367.59
Marginal Tax Rate
43.41%
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
Weekly Salary
Total Income
$2,384.62
Salary
$2,384.62
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$700.82
Federal Tax
$391.96
Provincial Tax
$217.38
CPP Contributions
$72.20
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$19.28
Net Pay
$1,683.79
Marginal Tax Rate
43.41%
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
Daily Salary
Total Income
$476.92
Salary
$476.92
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$140.16
Federal Tax
$78.39
Provincial Tax
$43.48
CPP Contributions
$14.44
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$3.86
Net Pay
$336.76
Marginal Tax Rate
43.41%
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
Hourly Salary
Total Income
$63.59
Salary
$63.59
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$18.69
Federal Tax
$10.45
Provincial Tax
$5.80
CPP Contributions
$1.93
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.51
Net Pay
$44.90
Marginal Tax Rate
43.41%
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
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% |
Income taxes on annual salaries
Annual Income Tax by Province/Territory
Total Income
$124,000.00
Total Deductions
$31,842.79
Net Pay
$92,157.21
Average Tax Rate
21.84%
Comprehensive Deduction Rate
25.68%
Total Income
$124,000.00
Total Deductions
$33,907.38
Net Pay
$90,092.62
Average Tax Rate
23.51%
Comprehensive Deduction Rate
27.34%
Total Income
$124,000.00
Total Deductions
$33,908.95
Net Pay
$90,091.05
Average Tax Rate
23.51%
Comprehensive Deduction Rate
27.35%
Total Income
$124,000.00
Total Deductions
$34,241.20
Net Pay
$89,758.80
Average Tax Rate
23.78%
Comprehensive Deduction Rate
27.61%
Total Income
$124,000.00
Total Deductions
$34,993.34
Net Pay
$89,006.66
Average Tax Rate
24.38%
Comprehensive Deduction Rate
28.22%
Total Income
$124,000.00
Total Deductions
$36,442.71
Net Pay
$87,557.29
Average Tax Rate
25.55%
Comprehensive Deduction Rate
29.39%
Total Income
$124,000.00
Total Deductions
$37,322.96
Net Pay
$86,677.04
Average Tax Rate
26.26%
Comprehensive Deduction Rate
30.1%
Total Income
$124,000.00
Total Deductions
$39,285.30
Net Pay
$84,714.70
Average Tax Rate
27.85%
Comprehensive Deduction Rate
31.68%
Total Income
$124,000.00
Total Deductions
$39,958.29
Net Pay
$84,041.71
Average Tax Rate
28.39%
Comprehensive Deduction Rate
32.22%
Total Income
$124,000.00
Total Deductions
$40,193.02
Net Pay
$83,806.98
Average Tax Rate
28.58%
Comprehensive Deduction Rate
32.41%
Total Income
$124,000.00
Total Deductions
$41,446.71
Net Pay
$82,553.29
Average Tax Rate
29.59%
Comprehensive Deduction Rate
33.42%
Total Income
$124,000.00
Total Deductions
$42,089.03
Net Pay
$81,910.97
Average Tax Rate
30.11%
Comprehensive Deduction Rate
33.94%
Total Income
$124,000.00
Total Deductions
$42,759.14
Net Pay
$81,240.86
Average Tax Rate
30.23%
Comprehensive Deduction Rate
34.48%
| Region | Total Income | Total Deductions | Net Pay | Average Tax Rate | Comprehensive Deduction Rate |
|---|---|---|---|---|---|
| Nunavut | $124,000.00 | $31,842.79 | $92,157.21 | 21.84% | 25.68% |
| Yukon | $124,000.00 | $33,907.38 | $90,092.62 | 23.51% | 27.34% |
| British Columbia | $124,000.00 | $33,908.95 | $90,091.05 | 23.51% | 27.35% |
| Northwest Territories | $124,000.00 | $34,241.20 | $89,758.80 | 23.78% | 27.61% |
| Alberta | $124,000.00 | $34,993.34 | $89,006.66 | 24.38% | 28.22% |
| Ontario | $124,000.00 | $36,442.71 | $87,557.29 | 25.55% | 29.39% |
| Saskatchewan | $124,000.00 | $37,322.96 | $86,677.04 | 26.26% | 30.1% |
| New Brunswick | $124,000.00 | $39,285.30 | $84,714.70 | 27.85% | 31.68% |
| Newfoundland and Labrador | $124,000.00 | $39,958.29 | $84,041.71 | 28.39% | 32.22% |
| Manitoba | $124,000.00 | $40,193.02 | $83,806.98 | 28.58% | 32.41% |
| Prince Edward Island | $124,000.00 | $41,446.71 | $82,553.29 | 29.59% | 33.42% |
| Nova Scotia | $124,000.00 | $42,089.03 | $81,910.97 | 30.11% | 33.94% |
| Quebec | $124,000.00 | $42,759.14 | $81,240.86 | 30.23% | 34.48% |
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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