![]() ![]() The marginal tax rate represents the tax rate paid on +$1,000 of incremental employment income (including all payroll taxes)Īnalysis #2: What Salary Do I Need to Get $X of After-Tax Income?įor any target amount of after-tax income, this tool tells you how much pre-tax employment income you’d need to get there.The average tax rate is calculated as total taxes paid divided by total pre-tax income (as opposed to total taxable income).Total taxes are the sum of federal tax, provincial tax, and payroll taxes (CPP / QPP, EI, QPIP). ![]() Tax credits which have been incorporated: basic personal amount (federal / provincial), dividend tax credits (federal / provincial), credit for EI / CPP / QPP / QPIP contributions, Canada employment amount, Quebec abatement, your assumed RRSP deduction.Taxes included in this analysis: federal tax, provincial tax, CPP / QPP, EI, QPIP (Quebec), OHIP (Ontario).All values used for tax brackets, personal amounts, and other credits are for the 2023 tax year. ![]()
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