2024 Ontario Income Tax Calculator
Calculate your take-home pay after tax.
Your Results
Yearly Salary
Total Income
$120,000.00
Salary
$120,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$34,045.27
Federal Tax
$18,812.49
Provincial Tax
$10,128.16
CPP Contributions
$4,055.50
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$1,049.12
Net Pay
$85,954.73
Marginal Tax Rate
43.41%
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
Monthly Salary
Total Income
$10,000.00
Salary
$10,000.00
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$2,837.11
Federal Tax
$1,567.71
Provincial Tax
$844.01
CPP Contributions
$337.96
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$87.43
Net Pay
$7,162.89
Marginal Tax Rate
43.41%
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
Biweekly Salary
Total Income
$4,615.38
Salary
$4,615.38
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$1,309.43
Federal Tax
$723.56
Provincial Tax
$389.54
CPP Contributions
$155.98
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$40.35
Net Pay
$3,305.95
Marginal Tax Rate
43.41%
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
Weekly Salary
Total Income
$2,307.69
Salary
$2,307.69
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$654.72
Federal Tax
$361.78
Provincial Tax
$194.77
CPP Contributions
$77.99
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$20.18
Net Pay
$1,652.98
Marginal Tax Rate
43.41%
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
Daily Salary
Total Income
$461.54
Salary
$461.54
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$130.94
Federal Tax
$72.36
Provincial Tax
$38.95
CPP Contributions
$15.60
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$4.04
Net Pay
$330.60
Marginal Tax Rate
43.41%
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
Hourly Salary
Total Income
$61.54
Salary
$61.54
Bonus
$0.00
Commission
$0.00
Pension Income
$0.00
Taxable Benefit
$0.00
RRSP
$0.00
Total Deductions
$17.46
Federal Tax
$9.65
Provincial Tax
$5.19
CPP Contributions
$2.08
QPP Contributions
$0.00
QPIP Premiums
$0.00
EI Premiums
$0.54
Net Pay
$44.08
Marginal Tax Rate
43.41%
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
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
$120,000.00
Total Deductions
$30,059.33
Net Pay
$89,940.67
Average Tax Rate
20.8%
Comprehensive Deduction Rate
25.05%
Total Income
$120,000.00
Total Deductions
$31,883.26
Net Pay
$88,116.74
Average Tax Rate
22.32%
Comprehensive Deduction Rate
26.57%
Total Income
$120,000.00
Total Deductions
$32,040.32
Net Pay
$87,959.68
Average Tax Rate
22.45%
Comprehensive Deduction Rate
26.7%
Total Income
$120,000.00
Total Deductions
$32,260.40
Net Pay
$87,739.60
Average Tax Rate
22.63%
Comprehensive Deduction Rate
26.88%
Total Income
$120,000.00
Total Deductions
$33,283.36
Net Pay
$86,716.64
Average Tax Rate
23.48%
Comprehensive Deduction Rate
27.74%
Total Income
$120,000.00
Total Deductions
$34,045.27
Net Pay
$85,954.73
Average Tax Rate
24.12%
Comprehensive Deduction Rate
28.37%
Total Income
$120,000.00
Total Deductions
$35,467.03
Net Pay
$84,532.97
Average Tax Rate
25.3%
Comprehensive Deduction Rate
29.56%
Total Income
$120,000.00
Total Deductions
$37,045.00
Net Pay
$82,955.00
Average Tax Rate
26.62%
Comprehensive Deduction Rate
30.87%
Total Income
$120,000.00
Total Deductions
$37,176.43
Net Pay
$82,823.57
Average Tax Rate
26.73%
Comprehensive Deduction Rate
30.98%
Total Income
$120,000.00
Total Deductions
$37,919.57
Net Pay
$82,080.43
Average Tax Rate
27.35%
Comprehensive Deduction Rate
31.6%
Total Income
$120,000.00
Total Deductions
$39,098.76
Net Pay
$80,901.24
Average Tax Rate
28.33%
Comprehensive Deduction Rate
32.58%
Total Income
$120,000.00
Total Deductions
$39,323.88
Net Pay
$80,676.12
Average Tax Rate
28.06%
Comprehensive Deduction Rate
32.77%
Total Income
$120,000.00
Total Deductions
$40,167.25
Net Pay
$79,832.75
Average Tax Rate
29.22%
Comprehensive Deduction Rate
33.47%
| Region | Total Income | Total Deductions | Net Pay | Average Tax Rate | Comprehensive Deduction Rate |
|---|---|---|---|---|---|
| Nunavut | $120,000.00 | $30,059.33 | $89,940.67 | 20.8% | 25.05% |
| British Columbia | $120,000.00 | $31,883.26 | $88,116.74 | 22.32% | 26.57% |
| Yukon | $120,000.00 | $32,040.32 | $87,959.68 | 22.45% | 26.7% |
| Northwest Territories | $120,000.00 | $32,260.40 | $87,739.60 | 22.63% | 26.88% |
| Alberta | $120,000.00 | $33,283.36 | $86,716.64 | 23.48% | 27.74% |
| Ontario | $120,000.00 | $34,045.27 | $85,954.73 | 24.12% | 28.37% |
| Saskatchewan | $120,000.00 | $35,467.03 | $84,532.97 | 25.3% | 29.56% |
| Manitoba | $120,000.00 | $37,045.00 | $82,955.00 | 26.62% | 30.87% |
| New Brunswick | $120,000.00 | $37,176.43 | $82,823.57 | 26.73% | 30.98% |
| Newfoundland and Labrador | $120,000.00 | $37,919.57 | $82,080.43 | 27.35% | 31.6% |
| Prince Edward Island | $120,000.00 | $39,098.76 | $80,901.24 | 28.33% | 32.58% |
| Quebec | $120,000.00 | $39,323.88 | $80,676.12 | 28.06% | 32.77% |
| Nova Scotia | $120,000.00 | $40,167.25 | $79,832.75 | 29.22% | 33.47% |
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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