How much will I have left after tax?

Question

If I make approximately 25,000$ a year. I live in Ontario Canada.

Answer 1

To J's excellent answer I would only add that Ontario has property tax/rent credits that you may be eligible for.  A few of my friends at university resisted filing tax returns till they understood they would get refunds as a result of their rent expense.

Answer 2

The provincial tax rate in Ontario is a minimum of 6.05% with a max of 11.16%.  Your $25,000 a year will fall into the 6.05% tax bracket.  Which is income from $0 to $34,758 a year.  The federal income tax bracket that you would fall into would be 15.5% which is $0 - $37,177.  Between these two taxes you would have a tax rate of  21.55%.  

Tax payable would be:

$25,000 x 21.55% = $5,387.50 (this is what you would owe in taxes, however there are tax credits)

The tax credits vary.  The most common I will list.  I do not have your age so I'm not sure if you pay for CPP (if you are under 18 you do not pay CPP and then you do not get the credit).  I'm not taking university credits into consideration etiher.  When I figure this out I'm assuming you are over 18 paying CPP and you have no other tax credits such as university, medical, or dependants.

Tax owing                                                        $5,387.50

Credits

Basic Personal Amount          (8,929)

EI                                                (720)

CPP                                           (1,990)

Canada Employment               (1,000)

Total                                         (12,639)

Rate  - federal                             15.5%

Tax credit                                 1,959                                            

Taxes owed $5,387.50 - 1959 = $3,428.50

You will owe roughly $3,428.50 in taxes, which means after tax you should get (25,000-3428.50) $21,571.50  Please keep in mind that I don't know all of your information, but this should give you an idea.