Best Answer: You didn't use the CRA calculator very well. Here's the numbers I get: Salary: $50,000 Income Tax: $9035.90 CPP: $2301.80 EI: $865.00 Net Pay: 37,797.30 I guess you didn't study as much as you should have.Source(s): ran your numbers through the online calculator and it says your take home pay will be roughly $37,800/year. Practically it'll be a bit more because you'll max out your CPP and EI payments and not have to pay that. If you got paid minimum wage, around $26,000/year, you'd take home $21,400.
This fee is 5% of the unpaid taxes, assessed on a monthly basis, up to a maximum of 5 months. If your tax return is more than 60 days late, the minimum late filing penalty is $135 or 100% of the tax due, whichever is less.
The tax rates at local and state level will vary and its harder to find data for those rates applied to a median or specific income range. For a family of four with earned income of $60,000 you can expect a federal tax bill of $2,573.The deduction and exemptions are $10,700 and $13,600 so your taxable income is $35,700. The federal tax rate for married filing jointly on that is $4,573.otal tax rate for a 'typical' family. I've seen some people overstate their tax bill. People are frequently confused between their top marginal rate and their overall tax burden. If you are in the 25% tax bracket that does NOT mean that 25% of your income goes to the IRS.