Salary Calculator Canada - Salary After Tax (2024)

Tax Year: 2024 – 2025

If you live in Ontario and earn a gross annual salary of $76,004, or $6,334 per month, your monthly take-home pay will be $4,758. This results in an effective tax rate of 25%, as estimated by our Canadian salary calculator.

Please note that all figures on this page are expressed in Canadian dollars (CAD).

The following chart outlines your earnings relative to the national average salary and minimum wage in Canada. These are annual, before-tax figures, calculated assuming full-time employment.

According to 2024 figures from Statistics Canada, the average (mean) salary for full-time employees in Canada is $76,004 per year, or $6,334 per month, before taxes and contributions.

To provide 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.

As of April 2024, the federal minimum wage in Canada is $17.30 per hour. Assuming a standard 40-hour work week, this amounts to an annual salary of $35,984. If you are living in Toronto, this corresponds to a monthly net income of approximately $2,470, as estimated by our Ontario salary calculator.

The table below lists the minimum wage for adult workers in Canada's largest provinces, along with the corresponding annual gross income based on a 40-hour work week. Please note that 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.

If you're an employee in Canada, your employer will issue paychecks with taxes already deducted and any applicable credits applied. This means your salary after tax is automatically calculated for you. Just remember that the deductions are based on a form you filled out at the time of your employment: the TD1 Personal Tax Credits Return.

You can request additional tax deductions through the Canada Revenue Agency (CRA). When it’s time to file your taxes, you can submit your return using any CRA-approved software, through a tax representative, or by manually completing a paper form. If you're traditionally employed, the filing deadline is April 30th, but self-employed earners have an extension to June 15th.

Our tax calculator takes each of the four major tax expenses into account. These include:

• Federal tax: This is the tax paid to the Canadian government. Rates start at 15% and can increase up to 33% depending on your income level. If you are employed, these taxes are typically pre-deducted from your paychecks.
• Provincial tax: This tax is paid to the provincial government and varies depending on the province where the income is earned. Like federal tax, the rates may increase with higher income levels.
• Canada Pension Plan (CPP) or Quebec Pension Plan (QPP): These are contributions toward your financial security in cases of disability, death, or retirement. Both employee and employer contributions are made automatically with each paycheck.
• Employment Insurance (EI): This is a social insurance program that supports individuals during periods of unemployment. For those in Quebec, the calculator also includes Quebec Parental Insurance Plan (QPIP) premiums. Like CPP/QPP, EI and QPIP premiums are calculated at fixed rates up to a maximum income level and are automatically deducted from your paychecks.