Question: how much taxes is taken out of your paycheck?
Answer: Income Tax Calculator, Ontario, Canada In other words, every time you spend $10 of your hard-earned money, $2.53 goes to the government. So, with you and the employer both paying tax, what used to be a 17.8% tax rate now rises to 23.5%, meaning your real tax rate is actually 5.7% higher than what it seemed at first.