ABOUT NET PAY CALCULATOR |
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The Net Pay Calculator is used to show the impact of a pay raise on your net take-home pay (cash) or how much money you set aside for taxes as a self-employed Free Agent. Income Tax, CPP and EI deductions are calculated on your inputs of a gross annual salary and the number of pay periods per year. The calculations assume the minimal entitlement to income deductions and tax credits (dependants, business deductions etc.). Use the Recalculate button to refresh the display eash time you change either the gross annual salary or the number of pay periods per year. The Net Pay Calculator uses the formulas specified by Revenue Canada (70th Edition, July 1999) but does not provide for limits on CPP and EI contributions. Results may vary slightly with the results of other available programs - we do not guarantee the accuracy of the results |
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