Taxes in Canada

The Canada Revenue Agency (CRA) is the federal agency responsible for administering tax laws and programs in Canada.

You can get all the details of the taxes in CRA website:

https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax.html

Federal Tax Rates 2023

15% on the portion of taxable income that is $53,359 or less, plus
20.5% on the portion of taxable income over $53,359 up to $106,717, plus
26% on the portion of taxable income over $106,717 up to $165,430, plus
29% on the portion of taxable income over $165,430 up to $235,675, plus
33%on the portion of taxable income over$235,675

Provincial and territorial tax rates for 2023

Click here for detailed provincial & territorial tax rates for 2023

Salary & Take Home

Have you ever wondered how much salary you should ask when you switch a job?
Did you calculate the taxes in advance before you negotiate?

This picture shows you the tax & take home for the salary ranges in Canada.

I have tried to provide an approximate amount of taxes for the salary range.

Salary & Taxes Split

The below tables gives a split of taxes.

Disclaimer:
* Purely for informational purposes & these figures are approximate
* Above Tax calculation is for ON province & is for personal income taxes
* Data does not show RRSP or any other tax savings deductions
* There may be other components which also gets deducted based on the employer (health benefit, insurance etc.). In those cases, take home will again come down.
* Please reach out to a professional tax consultant before you make any decisions.

Navigate to other pages

Browse via Categories

Read blogs

Working in Canada vs USA
by Sudheer Naik
People in work permit in US 🇺🇸 wants to move to CA 🇨🇦 because of the delay in GC processing in US🇺🇸 Citizens in CA wants to move to US 🇺🇸 because of… Read more: Working in Canada vs USA
Working in Canada vs India
by Sudheer Naik
Understand how the life in Canada is different from India. Be prepared before you land to avoid any surprises.
What are the most in-demand skills in IT?
by Sudheer Naik
Learn about the skills in demand in Canadian market. Understand which skills you need to upgrade to ease your job search in Canada.
Is Hiring frozen during Nov/Dec?
by Sudheer Naik
Take a moment to explore the possibility of hiring freezes during the months of November and December, while also gaining a deeper understanding of the factors that contribute to the slowdown in hiring during this period.
Questions which cannot be asked during the interview.
by Sudheer Naik
In Canada, the hiring managers or recruiters are not supposed to ask few questions which can be biased to make a decision on whom to be hired. Learn more about that.
Parameters to be considered – FTE vs Contract
by Sudheer Naik
Moving from Full Time to a Contract job is a tough decision to make. Ensure you do your due diligence before you make the decision. Consider the parameters before you make the switch.
11 mistakes to avoid during job search in Canada
by Sudheer Naik
Navigating the job market in Canada can be both exciting and challenging. To maximize your chances of success, it is essential to be aware of common pitfalls that can hinder your job search progress. By avoiding these mistakes, you can enhance your prospects and increase your chances of landing your desired job in Canada.
Questions which cannot be asked during the interview.
by Sudheer Naik
During a job interview, there are certain questions that should not be asked due to legal and ethical considerations. These questions are typically related to personal or protected characteristics that should not… Read more: Questions which cannot be asked during the interview.