Will be moving to canada in a month . What is the difference between “Marginal Tax Rate” and “Average Tax Rate” . For Calculation purposes on a 100k salary , Avg Tax is listed as 23.45% and Marginal as 43.41% . What will be the Monthly Salary 😖

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You would pay $23k tax total but each additional dollar after 100k is taxed at 43%.

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P1 😢

If average tax is 23% then you will make $77k after taxes on a 100k income. Given that marginal tax rate is $43% you will make 57c on every additional dollar in income. So if your employer gives you a $100 raise, your income after taxes will be $77053

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Hey D1 , so the deloitte yearly bonus gets taxed at marginal eh . Wow . So will there be tax refund if I am charged marginal during the tax filing ?

Also what is the bonus % band in Deloitte Canada for SC and Manager level

smart

Also remember about CPP and EI deductions (similar to social security or whatever extra $$ off down south). Bottom line - just google "paycheck calculator <province name> 2021" and it will be as close as it gets for your after tax estimates.

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Thanks D3.

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