The information and calculations on this page are based on your location (Canada) and a zero-dollar province tax. We recommend changing the 'Province' option in the calculator above if you want a more accurate version of the $5 an hour salary calculation.
How much is $5 an Hour After Tax in Canada?
In the year 2024, in Canada, $5 an hour gross salary, after-tax, is $9,875 annual, $822.94 monthly, $189.26 weekly, $37.85 daily, and $4.73 hourly gross based on the information provided in the calculator above.
Check the table below for a breakdown of $5 an hour after tax in Canada.
| Yearly | Monthly | Weekly | Daily | Hourly | |
|---|---|---|---|---|---|
| Gross Salary | $10,435 | $869.62 | $200 | $40 | $5 |
| Federal Tax | $0 | $0 | $0 | $0 | $0 |
| Provincial Tax | $0 | $0 | $0 | $0 | $0 |
| CPP Premium | $395.32 | $32.94 | $7.58 | $1.52 | $0.19 |
| EI Premium | $164.88 | $13.74 | $3.16 | $0.63 | $0.08 |
| Take-Home Pay (NET) | $9,875 | $822.94 | $189.26 | $37.85 | $4.73 |
If you're interested in discovering how much you would earn an hour with an extra $10 added to your hourly salary, you can explore the calculations for a $15 hourly income. This will provide you with a better understanding of the difference that additional $10 can make to your hourly earnings.
$5 an Hour is How Much a Year?
$5 an hour breaks down to the following yearly salary:
- Gross (pre-tax) yearly wage of $10,435
- Take-home (NET) yearly income of $9,875
$5 an Hour is How Much a Month?
When evaluating a $5 an hour after tax income, the corresponding monthly earnings can be determined:
- Take-home (NET) monthly income: $822.94
In order to discover $5 an hour is how much a month? - simply divide the annual amount by 12, resulting in a monthly income of $822.94.
$5 an Hour is How Much a Week?
When assessing a $5 an hour after tax salary, the associated weekly earnings can be calculated:
- Take-home (NET) weekly income: $189.26
To answer $5 an hour is how much a week? - divide the annual sum by 52, resulting in a weekly income of $189.26.
$5 an Hour is How Much a Day?
When examining a $5 an hour after tax income, the corresponding daily earnings can be determined:
- Take-home (NET) daily income: $37.85 (assuming a 5-day work week)
To find out $5 an hour is how much a day? - divide the annual figure by 260 (52 weeks * 5 days), resulting in a daily income of $37.85.
Is $5 an Hour a Good Salary?
To answer if $5 an hour is a good salary. We need to compare it to the national median. After calculation using ongoing year (2024) data, the salary of $5 an hour is 5.68 times or 82.4% lower than the national median. So, is $5 an hour a good salary?
Based on comparison to the national median and that it is more than half below average, in our opinion, it could only be considered an OK salary for a person without financial responsibilities, but for someone who has to pay rent, mortgage, and other expenses this is a very low salary to get in Canada and could result in financial struggle.
We think these three links are helpful and related to the $5 an Hour After Tax CA: Canadian income tax rates for individuals, Canada Federal Tax Brackets, Rates and Credits, and Income tax in Canada.
