How Much will I gross and net with a salary of 55000 a year every two weeks?

Question

If I make 55000 a year in canada in salary can anyone give me how much I gross and how much I will net every two weeks?

Answer 1

$55K per year is $2,115.38 gross every two weeks.

To determine your net use the below link to the CRA tax calculator. The net depends on what province you're living in which you haven't provided, as well as if you qualify for more then just the basic personal exemption amount.

http://www.cra-arc.gc.ca/eservices/tax/business/pdoc-e.html

Answer 2

I do not know the tax rate in Canada, but the weekly gross can be calculated by dividing 55,000 by 52 weeks.

55,000 / 52 = $1,057.69

The net is the gross times 1 - tax rate. In the USA that would be around 1 - .30 = .7

In the USA your net would be:

1057.69 * .7 = $ 740.38

Take care,
Troy