canned cat food or sushi?
May 18, 2007 7:25 AM

So I will be making x dollars gross in Ontario, that translates to...

Yet another delightful question in the I'm-moving-to-Ontario-from-the-US series. If I've got a salary of X dollars gross, is there any sort of online widget or happy little calculator that can tell me approximately what my take-home pay will be after taxes? Obviously I'm not looking for spot-on laser accuracy, but just a general gist so I can plan for housing, whether or not I buy a new bike, etc.

I've found lots of Canada-related money calculators online, but they all deal with after-tax income for things like home buying or investing or what-have-you.
posted by the dief to Grab Bag (4 answers total) 2 users marked this as a favorite
Canadian income tax deductions, etc, come to about 30% effective if you're making over $85K. That is, if you're making over $85K, you'll take home 70% of what you earn, with a marginal tax rate of closer to 50%. So a $5K raise would net $2.5K take home.

Approximately.
posted by GuyZero at 7:38 AM on May 18, 2007


Here's Ernst & Young's 2006 tax calculator.
posted by jamesonandwater at 7:41 AM on May 18, 2007


Exactly what I'm looking for! Thanks folks.
posted by the dief at 7:49 AM on May 18, 2007


Note that this is just your income tax. If you are salaried, there's also employment insurance. For everyone there’s sales tax, which in Ontario comes to around 14%.

Also note that you will not have to pay for health insurance beyond what is included in your taxes.

This might sound like a lot of tax, and if you have a high income you would certainly keep more of it if you stayed in the US, but living in Canada is just nicer. Mostly. (I have dual citizenship so I live in Canada by choice.)
posted by kika at 8:21 AM on May 18, 2007


« Older How to form a shop co-op and teaching center?   |   Help! Trouble roommates need to go! Newer »
This thread is closed to new comments.