Your salary, after tax.

It estimates a standard employee’s pay using federal and provincial tax rules, basic personal credits, pension and insurance contributions, and applicable territorial payroll tax. It assumes steady pay from one employer for a full year. Bonuses, employer benefits, special credits, different work and home provinces, and unusual pay calendars can change the result. This is a planning estimate, not a tax return.

CPP, CPP2, and EI each have an annual maximum. Early in the year a slice of every paycheque goes to them; once you hit a maximum, that slice stops coming off and your take-home rises for the rest of the year. The timeline shows these changes instead of smoothing the year into one average.

Yes. Quebec replaces CPP with QPP (including the QPP2 second tier), adds QPIP for parental insurance, and pays a lower EI rate because QPIP covers parental benefits. Pick Quebec and the breakdown switches to QPP, QPP2, EI, and QPIP automatically.

As personal annual contributions, not payroll deductions: your paycheques stay exactly the same, and the calculator estimates what could come back when you file, because both contributions lower your taxable income. It assumes you have the contribution room: RRSP room depends on your prior-year income and carry-forward (check your CRA notice of assessment), and FHSA room is the annual limit plus up to one year of carry-forward once the account is open.

Your average tax rate is the share of your whole income that goes to income tax. Your marginal rate is what the next dollar you earn is taxed at, after the credits and rate rules included in this estimate. The marginal rate is the one to look at when weighing a raise, a bonus, or how much an RRSP contribution saves you.

No. You do not need an account, and the numbers you enter are not stored. Fred can help you consider the estimate alongside your bills, savings, and goals.