$200K Salary in Canada, How Much is Left after Taxes? Calculate your Take Home Salary with Me!

[@MrBamshy]

Good video Feyi! One critical one you should talk about though...that ~13% additional tax we pay everytime we spend a cent, I think they call it GST/HST/Sales tax LMAO!! And by the time you remove rent, food and transportation...I rest my case LOL

[@FeyiMac]

Lol in Ontario, yes😭 Partly why folks are running to Alberta

[@ElaToby]

For every number you mentioned in tax deductions, I genuinely felt chest pain🥺. Wow! Looking forward to the accountant collaboration and the video on tax variation by provinces. Thanks a lot🌹.

[@FeyiMac]

🤣🤣 I know I know. Felt the same way reading them out 🤣

[@ElaToby]

@@FeyiMac 🤣 We still meuve!💯

[@minghan109]

Great informative video and to the point!! Can't wait for the one if you own your own business.

[@AdeSadiq]

Content yi lata. 👏🏾👏🏾👏🏾

[@FeyiMac]

Lol thank you! 🔥

[@marinaiyeme-eteng4344]

Omo, the taxes on 200k is more than some people's annual salaries

[@FeyiMac]

My sister!! Serious matter oh!

[@waxcav]

😂😂😂

[@josbeam8550]

The same applies to Uk a salary of 200000 pounds,has an income tax of about 75,000 pounds along with almost 9000 pounds for national insurance.But this salary bracket goes for most Senior Director role .

[@yemiadeleke4197]

One should not look at it as glass half empty. You need to look at what you take home. At 125,000 left, you will be taking home more than 4800 every two weeks. For most households, that one paycheck almost takes care of monthly bill. Which means you have at least 3000k saving every month. Then if you are married and your spouse works, all of your spouse's income is savings too. Digest that a bit and know you are basically set for early retirement of you invest well.

[@judithuwa4648]

Camera quality is bam! What do you film with pls?

[@olayemiogunyeye3558]

I love money talks too Feyi! Well done 👍

[@FeyiMac]

Yay!! 🥳🥳

[@Danzizels]

Yes, a good number of roles in Cloud, cybersecurity and data get paid 200k. Note also that a lot of people in these roles who work remotely work multiple jobs which can be a combination of Permanent and Contract positions.

[@FeyiMac]

👌🏾👌🏾

[@stockandforexwisdom3407]

Only 1 in every 100 people make 200k a year which is like 1 percent

[@tanamtech9059]

Please use more visual when talking about numbers. It will be very helpfuls for those struggling with numbers like me

[@FeyiMac]

Thanks for the suggestion. I’ll keep that in mind next time 🙂

[@kurijune5886]

The tax regime in canada is very much similar to what we pay hear in Kenya for salaried employees. However, you get far more benefits from your taxes in Canada than here in Kenya. I also believe Canada offers a far much better quality of life. If I had a choice, I would relocate to Canada

[@FeyiMac]

Thanks for sharing your thoughts!

[@richardramfire3971]

There are pros and cons to living here. Don’t always believe the grass is greener

[@anyasmiller806]

We always believe there’s quality life out there. Don’t be deceived

[@KimFert]

No dear. Stay in Kenya and build weath or go to another country. There are many more things to contend with here in Canada. I moved from the Caribbean to Canada 10 years ago and I and other people are heading out. Canada has good PR, but it's a fairytale.🤦🏾‍♀️

[@whataworld369]

​@KimFert As a homegrown Canadian, unfortunately i agree with you. What countries are you thinking of relocating to?

[@SettlingInCanada912]

Damn! Looking at these numbers its alarming 😢. How do you get your phond screen on the computer? Thats pretty cool

[@ayenioyinkansola6818]

Wow, the higher your earnings. The more the tax🤦‍♀️. Thanks a lot feyi, very insightful

[@Makammma]

Same thing everywhere even back home.

[@FeyiMac]

Yes

[@ChristianMoore11]

Is that page really reliable??

[@greenbutterfly2421]

Wow, very informative. Are you able to make a video talking about salaries for different jobs? Or even just an estimate.

[@FeyiMac]

Thank you! Sure can! 😊

[@michelangelo6921]

Excellent content, thanks Feyi

[@FeyiMac]

Thank you! 🙏🏾

[@florenceoj3780]

I LOVE YOUR FRAMES. How do i get it please?

[@FeyiMac]

Thank you so much! They’re from zeelool.sjv.io/LPbYQ3

[@BastaCommunications]

Amazing stuff baby

[@NNNedlog]

Awesome video as always

[@FeyiMac]

Thank you! 🙏🏾

[@estherodili751]

Very informative. Thanks

[@FeyiMac]

Its my pleasure

[@houseofzamani8996]

Thank you for this video, very insightful. Does this tax calculation also apply to someone working remotely with a company outside of Canada? If not, can you please do a video on how to work out the tax for that situation. Thank you.

[@FeyiMac]

Thank you! You might need to seek an Accountant for professional advice on how best to make that situation tax-efficient.

[@houseofzamani8996]

@@FeyiMac Thank you for the swift response, I appreciate

[@mamamarleykitchen3427]

You will pay taxed worldwide income

[@ayobamimac]

Another Banger

[@FeyiMac]

🙌🏾🙌🏾

[@naturegirlbb100]

Very informative.👍👏

[@mizzenestates676]

Lovely info

[@favourilobi2532]

For someone with fixed employee will I be taxed on side contracts??

[@TalkwithDammy]

Thank you Feyi

[@FeyiMac]

It’s my pleasure!

[@oladeleseun3737]

Insightful. Than you

[@FeyiMac]

It’s my pleasure

[@olumidesomide]

Amazing 🔥🔥🔥

[@FeyiMac]

Thank you!!

[@Len-Dor1983]

Great and informative

[@FeyiMac]

Thank you’

[@Len-Dor1983]

@@FeyiMac yes it was the calculator is a awesome asset gives you an idea how to live and according a lot of people don’t release how expensive and tight out here in Canada is .

[@FeyiMac]

True talk. I’m glad you found it useful

[@CallumMoorekw]

Great breakdown!

[@FeyiMac]

Thank you!

[@glorychukwuma3264]

Good job 👍

[@FeyiMac]

Thank you!

[@oliviern.4724]

That why I have to change some...

[@FeyiMac]

Change some what?

[@olamides5515]

Thanks for this video...waweaux though!

[@FeyiMac]

🤣🤣

[@Milliken4900]

Hi, isn’t it true how much you pay on taxes based on your family composition? Married or Single, Children or no children?

[@FeyiMac]

It is. For example, certain childcare expenses are eligible for tax credits and the tax credits can lead to a tax refund, all things being equal.

[@truthmatterbyoladada1462]

If you are a big ender, you don't get nothing back.

[@stellachima7735]

Which provice do you stay in canada

[@FeyiMac]

The Province of Ontario

[@stellachima7735]

@@FeyiMac is like things are costly over there dan Saskatoon

[@calebadeleye]

chai...a whole 30% going to the government? shey na dem help me do the work ni

[@FeyiMac]

Lol

[@techwithbube]

Very very informative thanks 🙏

[@FeyiMac]

🙏🏾🙏🏾

[@brachialplexus6911]

So it the rentage coming out of the 72% left or it part of the deducted taxes?

[@FeyiMac]

Play rephrase your question for clarity

[@brachialplexus6911]

I mean are you paying ur rentage from the 72% you have left? Or it part of the tax deducted.

[@FeyiMac]

The take home pay after tax is what you have left to pay your rent and bills

[@mimi-dq3xc]

You forgot also health insurance and union fees etc do apply

[@FeyiMac]

I mentioned that those fees are specific to selected insurance plans and employers so I didn’t include them in the simulations.

[@David-el6hh]

In my job, apart from the mandatory union due, i pay another mandatory type of pension, CAAT, which is even more than regular CPP every paycheck. I used to be angry with it (9ja mentality 😁), but now, I changed my perspective, and decided to be more open in living a better life with my take home or worry less when buying expensive things knowing I have money in 2 solid pension schemes at retirement.

[@olubusolaawolaja6831]

These taxes are still reasonable o compare to the UK-

[@olubusolaawolaja6831]

£200,000 in UK is 50% tax with the new rules- not making people working corporate jobs get up to that. If you are even working 2 5 figure jobs it’s worse.

[@FeyiMac]

But with the exchange rate, £200k is about $330k CAD so at 330k CAD, yes, almost half the income would be gone.

[@masternoremac3738]

As long as Justin Castro is in office, i don't recommend Canada for an affordable place to live...

[@damilolabakare8160]

It's like, the more you earn, the more percentage you pay in taxes.....

[@FeyiMac]

Yes, that’s correct

[@cleanasdirt6832]

The sticker shock of tax paid on your income, is a tough pill to swallow. However, if you need anything to do with health care, you don’t pay out of pocket.

[@marcelo403polo2]

LOL. Then whose pocket covers health care you think????? Its free only for those on social etc

[@MrDarkchipmunk]

Why do you need to file your taxes if its already automatically deducted from your salary?

[@FeyiMac]

Hello, The amount deducted from your salary may or may not be accurate for the year due to several factors. Some have multiple sources of income, some have business income to declare as Sole Proprietors, some get tax credits for tuition, childcare and charity expenses or temporary tax relief for contributing to their retirement fund. Too many moving parts determine how much you were supposed to pay in taxes. So it’s best for residents to be responsible for declaring all their incomes and eligibility deductions for the year that the government may or may not be aware of. After filing taxes, you will either owe the government more taxes or they give you a refund if they owe you.

[@truthmatterbyoladada1462]

To know where they are going to tax you more ...... welcome to Canada

[@ChroniclesofEP]

Sooooooooooo good. Thank you for sharing

[@FeyiMac]

Thank you! 🙏🏾

[@muyiwa508]

Great video...200k is big money in Canada...

[@clearcut6818]

Not really. Have you been to Toronto?

[@FeyiMac]

It is but it can go by really fast depending on your expenses

[@FeyiMac]

Lol, it’s still big money though considering the average salary in Toronto

[@csuryavanshi5976]

Who makes C $ 200 k per year, let alone $200k, in jobs?

[@ElvisANgoh]

Na wa ohhh. The more you earn as salary the more you pay. That's just crazy.

[@FeyiMac]

Yeah, that’s pretty normal though for a lot of countries but the portion we pay can be quite daunting for a newcomer. Especially because we still pay GST/HST

[@abdulganiyuolamilekanhamza9489]

Pls is there any update on fully funded scholarship in Canada especially saskatoon

[@FeyiMac]

Hello, please check on University of Saskatchewan’s website

[@harryjohnpaul432]

Good afternoon ma, please can I change visitor visa or tourist visa to work permit in Canada?

[@olusolaeseyin7982]

Is it worth considering this relocation thing with collosal tax regimes? Sigh! #dilemma

[@FeyiMac]

Decisions decisions

[@noblechuks2002]

Weigh your options. The good thing you see the benefits of your tax

[@seyep5]

But you already pay close to 25% in Nigeria depending on if your company is tax compliant

[@olusolaeseyin7982]

@@seyep5 it's an American firm and they're over tax compliant sef. But the standard of living here still helps you escape the high cost of living one would still have to deal with in Canada but if I no longer work here no Nigerian firm can pay me like this and I simply wouldn't fit into their salary structure, culture & standard. And if I don't look into the japaa thing now door may be closed when I may have need for it but then again the way marriages are packing up over there it's as though the parties get swapped once they land there and their tolerance for each other was left at Murtala Muhammed ( that one scares me on another level all together) sigh! I honestly dunno

[@seyep5]

@@olusolaeseyin7982 I agree with you, japa is not for everyone, you have to weight your options carefully

[@MsRenaissance]

Who in canada makes $200k per annum because Canadian jobs don't pay as much as the same job in USA.

[@clearcut6818]

Many many people. The average house in the GTA is $1.5mil. the average income for these homeowners are $250k.

[@FeyiMac]

You’re largely right but income in Canada vs US is relative.

[@luckyme213]

That’s for sure because I have been searching for jobs in Canada 🇨🇦 and they paid relatively less than US and they paid in CAD. Maybe 200k is for specific professions I don’t know about, but it’s definitely not for most jobs in Canada

[@FeyiMac]

Look for contract jobs if you want higher pay

[@clearcut6818]

@@luckyme213 data analyst jobs start at 50k, but many get paid over 200k.

[@bazukamimi5721]

Nice

[@FeyiMac]

Thank you!

[@noblechuks2002]

All these deductions doesn't include GST/HST which is inevitable. Your so called takehome is still taxable with GST and HST when you pay for groceries, rent, payment of services and utilities etc.... wawu..lol

[@FeyiMac]

Yes, lol

[@noblechuks2002]

All the best for newcomers.. lol

[@dufelipebrtrully]

You pay more then Brazil

[@naturegirlbb100]

The more you earn the more you pay on taxes and vice versa in Canada.

[@kingejiro]

$75k deduction on 200k?!! Bruh

[@Len-Dor1983]

Brother she didn’t lie I live in Mississauga it’s a fact

[@FeyiMac]

Yep

[@kotakoti8467]

Hi good infoooo thank u im from india mba processs tell me

[@FeyiMac]

Hello, please watch my other videos

[@kotakoti8467]

@@FeyiMac give me your email id

[@kotakoti8467]

@@FeyiMac i will send my profile or resume

[@johnm.3415]

Why the so much tax in Canada ? Doesn’t make sense to me because from what it simply looks like is that y’all working to pay money back to the government in return.😢😢😢. Very sad !

[@priscyscorner.]

I literally screamed when I heard that 74k. Like whaaaat

[@jessothomas795]

200k jobs are most tech jobs software developer, dsa area ,,data engineer or cloud solutions architect, data scientist, big data engineer, Cyber security. These jobs depends on company 100-260k range . Rest are medical doctor

[@FeyiMac]

👌🏾👌🏾

[@uceclassic]

All this deductions and you still haven't paid for rent. Rent alone might be about 50%

[@FeyiMac]

Lol, there are still more taxes other than income tax

[@calebadeleye]

@@FeyiMac wait o... so you mean this one you just talked about is part 1?

[@mcprince1073]

@@calebadeleye e shock you 😂😂

[@calebadeleye]

@@mcprince1073 e shock me gan o

[@aminatusman6569]

Weldone

[@FeyiMac]

Thank you! 🙏🏾

[@dougiep2769]

You need to read the definition of fascism…. Your living in it. You might wanna reconsider where you stay because this is gonna be Venezuela in about 2, yrs if that and you don’t want to be part of that when it happens

[@favourilobi2532]

Taxes is 😢😢

[@KingEphestino]

The higher you earn you higher tax you pay.

[@csuryavanshi5976]

Just Eutopian to make $ 200k in Canada, forget taxes. 😢

[@zacharythomson9968]

Get a trade and be willing to work rotations out of town. 150-200k very achievable.

[@ivangracia151]

taxes in canada are almost extorsion

[@truthmatterbyoladada1462]

O Canada, are home and native land.............fake dreams

[@angelasoWA]

Canada supports immigrating talent all over the world, yes taxes will be high as they have universal health care and good social programs to get people started. The biggest is affordable housing but that’s another video…

[@blastking2006]

U need to get married and have kids to reduce taxes

[@FeyiMac]

Lol good idea

[@noblechuks2002]

It doesn't work that way, daycare and other expenses await you.

[@FeyiMac]

Lol I’m just laughing

[@luxurylifestyle4518]

The system is built for you not to lazy around, work your butt off man

[@melanin_king]

@@luxurylifestyle4518it’s the same system in the USA. It’s built for you to work until you’re 65yr old and have nothing to show for it.

[@mrp1223]

I'm still shook that my salary went from 110k to 145k and my take home only increased by $400 a month....Tax in this Canny is a bad b@$% sha

[@maryah0422]

Wow

[@daliaa5294]

That’s ridiculous

[@clearcut6818]

You're bad at math

[@FeyiMac]

Are you sure? You’ll probably get something back at tax time. Something seems off.

[@mrp1223]

Very very sure oh, yes a huge tax refund will be the only compensation because the math isn’t mathing. I used the calculator you used too and similar results….