Salary Calculator Ontario 2018
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Reviewed by Calculator Editorial Team
Calculate your gross salary, net pay, and tax deductions for Ontario in 2018. This salary calculator provides a detailed breakdown of provincial and federal taxes, CPP, EI, and other deductions to help you understand your take-home pay.
How to Use This Calculator
Enter your gross annual salary in the calculator below. Select your filing status (Single or Married) and choose whether you want to include CPP and EI deductions. Click "Calculate" to see your net pay and tax breakdown.
The calculator uses the 2018 Ontario tax rates and provides a detailed breakdown of all deductions. You can also view a chart showing the percentage of your salary that goes to taxes versus your net pay.
Formula Used
The net pay is calculated by subtracting all deductions from your gross salary. The formula is:
Net Pay = Gross Salary - (Federal Tax + Provincial Tax + CPP + EI + Other Deductions)
Where:
- Federal Tax is calculated using the 2018 federal tax brackets
- Provincial Tax is calculated using the 2018 Ontario tax brackets
- CPP (Canada Pension Plan) is 5.95% of your earnings up to $57,400
- EI (Employment Insurance) is 1.66% of your earnings up to $53,300
Worked Example
Let's calculate the net pay for a single person earning $60,000 gross salary in 2018.
- Federal Tax: $10,200
- Provincial Tax: $7,200
- CPP: $3,511
- EI: $999
- Total Deductions: $21,909
- Net Pay: $60,000 - $21,909 = $38,091
This means the person would take home approximately $38,091 after taxes and deductions.
Ontario Tax Rates 2018
The 2018 Ontario tax rates are as follows:
| Tax Bracket | Tax Rate |
|---|---|
| $0 - $44,703 | 5.05% |
| $44,704 - $89,406 | 9.15% |
| $89,407 - $150,000 | 11.16% |
| $150,001 - $220,000 | 12.16% |
| Over $220,000 | 13.16% |
These rates are for single filers. Married filers have different brackets and rates.
Frequently Asked Questions
How accurate is this salary calculator?
This calculator uses the 2018 Ontario tax rates and provides a close estimate of your net pay. For exact figures, consult a tax professional or use official government tax calculators.
Does this calculator include all deductions?
Yes, the calculator includes federal and provincial taxes, CPP, and EI deductions. It does not include other deductions like union dues or RRSP contributions.
Can I use this calculator for 2019 or later years?
No, this calculator is specifically for 2018 tax rates. For current years, use a tax calculator designed for the relevant year.