You are most welcome @Ali Rizwan. The basic percentages written are one thing, and the effective deductions you end up with - is another.
For a rough average, a 90k annual salary (which is considered quite good) would effectively leave you with 60-64k.
Basically if your employer provides you with additional medical coverage and even if employer pays for it, it is a taxable benefit. So that amount paid by employer is added to your compensation BEFORE computation of tax.
Generally speaking for earnings in 80-90K range, tax deduction is around 37% effectively (though at year end you might get a significant chunk back when you file return - say on the 90k figure, it should roughly be close to 5k - depending upon what sorts of exemptions you would claim - but for a person with non working spouse and kids and this salary range, 5k is a good estimate).
These figures would vary from province to province. Above estimates are for Quebec, Ontario is a bit less with taxes (instead of 65 - it should be around 60).
But other things compensate that. E.g. car insurance in Ontario is around 300 CAD on average vs for a person of similar profile in Quebec would be 100 per month.
Of course with lower salaries, taxes are far less. So you get far less advantage when getting higher pays.
Bonuses if any are taxed at close to 47% flat.
I believe that gives you a good feel.
For a rough average, a 90k annual salary (which is considered quite good) would effectively leave you with 60-64k.
Basically if your employer provides you with additional medical coverage and even if employer pays for it, it is a taxable benefit. So that amount paid by employer is added to your compensation BEFORE computation of tax.
Generally speaking for earnings in 80-90K range, tax deduction is around 37% effectively (though at year end you might get a significant chunk back when you file return - say on the 90k figure, it should roughly be close to 5k - depending upon what sorts of exemptions you would claim - but for a person with non working spouse and kids and this salary range, 5k is a good estimate).
These figures would vary from province to province. Above estimates are for Quebec, Ontario is a bit less with taxes (instead of 65 - it should be around 60).
But other things compensate that. E.g. car insurance in Ontario is around 300 CAD on average vs for a person of similar profile in Quebec would be 100 per month.
Of course with lower salaries, taxes are far less. So you get far less advantage when getting higher pays.
Bonuses if any are taxed at close to 47% flat.
I believe that gives you a good feel.
