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If you are living in Canada, in Ontario, and earning a gross annual salary of $73,793, or $6,149 monthly before taxes, your net income, or salary after tax, will be $55,428 per year, $4,619 per month, or $1,066 per week.
Taxes and contributions may vary significantly based on your location. Refer to the next section to see your take-home pay calculated for other Canadian provinces and territories.
For ease of use, our Canadian salary calculator assumes you're single with no dependents. Therefore, your actual tax liability may be higher or lower, depending on your individual circumstances, once specific credits and deductions are taken into account. Nonetheless, this tool offers a good approximation of what to expect on payday.
After-Tax Salaries in Other Canadian Provinces
Canadians are subject to both federal and provincial income taxes. While the federal tax brackets and rates are the same across all provinces (excluding Quebec), the provincial income tax rates and brackets can differ significantly.
For perspective on these variations, we have compiled a table showing the estimated monthly take-home pay across each Canadian province and territory, as projected by our salary calculator for gross annual earnings of $73,793.
| Province | After-Tax | Tax Rate |
|---|---|---|
| Quebec | $4,289 | 30.3% |
| Nova Scotia | $4,317 | 29.8% |
| Prince Edward Island | $4,379 | 28.8% |
| Newfoundland and Labrador | $4,425 | 28.0% |
| Manitoba | $4,459 | 27.5% |
| New Brunswick | $4,463 | 27.4% |
| Saskatchewan | $4,515 | 26.6% |
| Alberta | $4,604 | 25.1% |
| Ontario | $4,619 | 24.9% |
| Yukon | $4,680 | 23.9% |
| British Columbia | $4,703 | 23.5% |
| Northwest Territories | $4,769 | 22.5% |
| Nunavut | $4,901 | 20.3% |
Tax Breakdown
For a gross annual income of $73,793, our tax calculator projects a tax liability of $1,530 per month, approximately 25% of your paycheck. The table below breaks down the taxes and contributions levied on these employment earnings in Ontario, Canada.
| Yearly | Monthly | Weekly | |
|---|---|---|---|
| Gross Income | $73,793 | $6,149 | $1,419 |
| Federal Tax | $8,989 | $749 | $173 |
| Provincial Tax | $4,618 | $385 | $89 |
| CPP/QPP, EI premiums, QPIP | $4,757 | $396 | $91 |
| Total Tax Due | $18,365 | $1,530 | $353 |
| Take-Home Pay | $55,428 | $4,619 | $1,066 |
What Is the Average Salary in Canada?
According to 2023 figures from Statistics Canada, the average (mean) Canadian salary for full-time employees is $73,793 per year, or $6,149 per month, before taxes and contributions.
For a clearer look at what residents in the largest Canadian provinces make, we've compiled each province's average gross salary, next to the after-tax figures calculated using our take-home pay calculator. We can see that Ontario, British Columbia, and Alberta boast some of the highest average salaries in the country, while the figures for Quebec dip below the national average.
| Province | Average Yearly Wage | Monthly Salary After Tax |
|---|---|---|
| Canada (aggregate) | $73,793 | $4,619 (est.) |
| Alberta | $80,402 | $4,986 |
| British Columbia | $77,536 | $4,927 |
| Ontario | $76,357 | $4,769 |
| Quebec | $68,333 | $4,000 |
What Is the Minimum Wage in Canada?
As of April 2023, the federal minimum wage in Canada is $16.65 per hour, which translates to a yearly salary of $34,632, if we assume the standard 40-hour work week. Assuming you are living in Ontario, this translates to a monthly net income of around $2,376, as estimated by our salary calculator.
The table below lists the minimum wage for adult workers in Canada's largest provinces, together with the resulting yearly earnings calculated for a full-time working week of 40 hours. These figures represent gross income, since minimum wage workers are still subject to income tax and other deductions. For a more comprehensive view of the minimum wage across different provinces and how they are taxed, check our Minimum Wage in Canada by Province article.
| Province | Minimum Hourly Wage | Yearly Salary |
|---|---|---|
| Canada (federal) | $16.65 | $34,632 |
| Alberta | $15.00 | $31,200 |
| British Columbia | $16.75 | $34,840 |
| Ontario | $16.55 | $34,424 |
| Quebec | $15.25 | $31,720 |
How Is Salary Calculated and Paid in Canada?
If you're an employee, then your employer will automatically send you paychecks with taxes deducted and credits applied. In other words, your take-home pay in Canada is calculated for you. Just remember that the deductions are based on a paper you filled out at the time of your employment: the TD1 Personal Tax Credits Return.
You can also request tax deductions from Canada's tax authority, the Canada Revenue Agency (CRA). When tax time comes, you can send in your return by using any CRA-approved software, a tax representative, or complete a manual file on paper. If you're traditionally employed, the filing deadline is April 30th, but self-employed earners have an extension to June 15th.
Taxes Included in This Canadian Salary Calculator
Our salary calculator for Canada takes each of the four major tax expenses into account. These include:
- Federal tax, which is the money you're paying to the Canadian government. It starts at a 15% rate and rises with your income up to 33%. If you're employed, then recall that federal taxes have already been taken out of your paychecks.
- Provincial tax, which is the money you're paying to the provincial government. The rate varies based on the province in which the income was generated.
- Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) contributions, which act as a financial security blanket if you lose income due to disability, death, or retirement. These contributions and employer matches are made automatically each time you're paid.
- Employment Insurance (EI), which is a social insurance program supporting the unemployed during their job search or training. For Quebec, the calculator also includes the compulsory Quebec Parental Insurance Plan (QPIP) premiums. EI and QPIP premiums scale with your income and are also deducted automatically from your paycheck.
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