Can anyone tell me how much I will pocket (after taxes) biweekly if I make $38,000 in Ontario?

Question

Can anyone tell me how much I will pocket (after taxes) biweekly if I make $38,000 in Ontario?

Answer 1

Look at the tax code and see what percentage will be deducted for all the items, Subtract that % from 100. Then multiply the $38,000 by that figure That will be your net pay for the year. Divide the net pay by 26 to arrive at the biweekly amount you will pocket.

Answer 2

Assuming you have no other taxable benefits and no other deductions from gross income, and assuming you are claiming tax code 1 (default) for the TD1 form you will be getting $ 1144.73 net pay bi-weekly on gross yearly salary of $ 38000.00 in Ontario.

Pay period                           Biweekly (26 pay periods a year)

Province of employment Ontario

Federal amount from TD1 Claim Code 1

Ontario amount from TD1    Claim Code 1

Salary for the pay period $ 1,461.54

Taxable income                 $ 1,461.54

Federal tax deductions $    144.63

Ontario tax deductions $      81.22

Total tax on income         $    225.85

CPP deductions                 $      65.68

EI deductions                 $      25.28

Total deductions on income$    316.81

Net pay amount               $ 1,144.73