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How much will my net income will be if im single, living in ontario and receiving gross income of 52,000/year? |
How much will my net income will be if im single, living in ontario and receiving gross income of 52,000/year? Assuming that you are between 18 & 64 for the whole year: Fed tax: $7,077.09 Provincial tax: $3,581.24 CPP premiums: $1,910.70 EI premiums: $720.00 total: $13,289.03 net pay: $52,000-$13,289.03=$38,710.97 =$3,225.91/month =$1,488.88 every other week This assumes that you don't have any other items, e.g., RRSP contributions, RPP contributions, private health insurance premiums, etc. deducted from your pay. The amount will probably slightly less from Jan to June and slightly more from July to Dec. Source(s): I used income tax software and 2007 rates. |
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