Income Tax Calculator Canada 2026

Calculate your federal and provincial income tax.

Your Income

$58,601

Take-Home Pay

$16,399

Total Tax

Tax Breakdown

Federal Tax$11,646
Ontario Tax$4,753
Effective Tax Rate21.9%
Marginal Tax Rate29.6%

Monthly Breakdown

Gross Monthly$6,250
Net Monthly$4,883

Budget Based on Your Take-Home Pay

Waypoint Budget helps you create a budget using your actual after-tax income.

2026 Federal Tax Brackets

  • 14% on first $57,375
  • 20.5% on $57,375 to $114,750
  • 26% on $114,750 to $177,882
  • 29% on $177,882 to $253,414
  • 33% on income over $253,414

Note: This calculator provides estimates. Does not include CPP, EI, or tax credits. Consult a tax professional for accurate filing.

Related Calculators

Hourly to Salary

Convert hourly wage to annual salary

RRSP Calculator

Calculate RRSP contributions and tax savings

Budget Calculator

Create a personalized monthly budget

Disclaimer: This calculator is for educational and informational purposes only and does not constitute financial, tax, or legal advice. Results are estimates based on simplified assumptions and may not reflect your actual situation. Tax laws, contribution limits, and regulations change frequently. Always consult a qualified financial advisor or tax professional before making financial decisions. See our Terms of Service for full details.