# Canadian Tax Rates



## roundfoot (Jul 11, 2010)

Hi,

Just wondering if anyone could tell me how much tax I would expect to pay on an income of £100k in Vancouver. What would be my take home pay after all deductions?

Thanks!


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## Auld Yin (Mar 10, 2009)

roundfoot said:


> Hi,
> 
> Just wondering if anyone could tell me how much tax I would expect to pay on an income of £100k in Vancouver. What would be my take home pay after all deductions?
> 
> Thanks!


That question is virtually unanswerable without knowing all the deductions you can claim. You can work it out quite accurately using the following.

TaxTips.ca - Canadian tax calculator


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## roundfoot (Jul 11, 2010)

Thanks Auld will have a look.


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## roundfoot (Jul 11, 2010)

To be honest not sure what I would and wouldn't qualify for? Would around 25% be in the right ball park?


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## Auld Yin (Mar 10, 2009)

IMO, your total deductions including income taxes (federal and Provincial), CPP, EI and Health Tax would probably be close to 40% for a single person. If you're supporting a wife and children then it would be less.


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## roundfoot (Jul 11, 2010)

Thanks, auld. I would be supporting my wife and two kids (3 and 1 years old) - does that make much difference? Trying to get an idea of what we could afford to spend on housing, transport etc so need to know how much I would be taking hone after tax.


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## Auld Yin (Mar 10, 2009)

I misread your OP as CAN$100k but I now see it's £100k which is a substantial difference. On an income of Can$160k I think your taxes with a spouse and two children would be in the $47,000 range.


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## roundfoot (Jul 11, 2010)

Sorry it should have been $100 CAD, too used to using the £ I guess...


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## gringotim (Jan 5, 2011)

roundfoot said:


> Hi,
> 
> Just wondering if anyone could tell me how much tax I would expect to pay on an income of £100k in Vancouver. What would be my take home pay after all deductions?
> 
> Thanks!


 on 100k dollars, Provincial and federal Income taxes combined would would be around 40%, but as Auld Yin says, you will probably have deductions to bring that % down. And also to consider is will your medical insurance be paid by you or your employer, will you have union dues, then theres pension plan contributions etc. In other words, there more taken off a paycheck than just taxes. I pay about 29% just in taxes when all is said and done. But I max out my RRSP contributions, which really helps, But everybody is different.


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## roundfoot (Jul 11, 2010)

Sorry is 100 Canadian dollars. Thanks for the reply. But difference of 10% does change things. Will do more research bit hopefully around 30% rather than 40%!!


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## gringotim (Jan 5, 2011)

roundfoot said:


> Sorry is 100 Canadian dollars. Thanks for the reply. But difference of 10% does change things. Will do more research bit hopefully around 30% rather than 40%!!


Incase you missed it, I added to my last post.


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## roundfoot (Jul 11, 2010)

Thanks gringotim. My employer would pay all health and dental insurance for me and my family, no union dues as far as I'm aware and pension would be 5%. just trying to get an idea of costs so I can budget and make sure I'm looking for houses in the right price bracket (for rental) etc


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## roundfoot (Jul 11, 2010)

Most basic tax calculators (using google) put income tax at around 24% but guess I'm missing something?


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## Auld Yin (Mar 10, 2009)

gringotim said:


> on 100k dollars, Provincial and federal Income taxes combined would would be around 40%, but as Auld Yin says, you will probably have deductions to bring that % down. And also to consider is will your medical insurance be paid by you or your employer, will you have union dues, then theres pension plan contributions etc. In other words, there more taken off a paycheck than just taxes. I pay about 29% just in taxes when all is said and done. But I max out my RRSP contributions, which really helps, But everybody is different.


There are so many variables involved so without knowing his real/true situation if he uses the tax calculator I provided him he will get a much truer figure.
With a dependent spouse and two dependent children his taxes, i think, should be around $22 k.


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