Updated 25 October 2026
Quick answer: In Canada in 2026, the minimum wage is C$18.15/hour (about $2,248 a month full time); an average earner keeps 74% of their pay after income tax and social security; mortgage rates are about 5.14%; the state pension age is 65. The table below puts 8 everyday money measures for Canada side by side and ranks each one against the other countries in our data, using official figures from national statistics offices, central banks, the OECD and Eurostat.
Most comparisons of Canada look at one number at a time. This page gathers the figures that matter for working, buying a home, paying bills and retiring in Canada, so you can see them together and see how Canada compares. Each section links to our full guide for that topic, which covers every country and lists the original sources, and each dataset can be downloaded free.
Canada at a Glance
| Measure | Canada | Rank |
|---|---|---|
| Minimum wage | C$18.15/hour (≈ $2,248/month) | 9th highest of 38 |
| Tax on an average wage | 25.6% (keeps 74%) | 18th highest of 38 |
| Pay rise forecast 2027 | 3.2% (inflation 3.1%) | 8th lowest of 29 |
| Mortgage rate | 5.14% (5-year fixed, big bank, Oct 2026) | 7th highest of 31 |
| State pension age | 65 | 15th highest of 39 |
| Pension (share of pay) | 45.1% of net pay | 10th lowest of 50 |
| Bank deposit protection | C$100,000 per person, per bank | — |
| Inheritance tax (children) | None | — |
Rank compares Canada with the other countries in each dataset; "highest" means the largest value. "—" means the measure isn't ranked.
Minimum Wage in Canada (2026)
The legal minimum wage in Canada is C$18.15/hour. For a month of full-time work that is about $2,248 at current exchange rates, 9th highest of 38 countries in our comparison. Federally regulated sectors from 1 April 2026; provinces set their own rates.
Full table for every country, with sources: Minimum Wage by Country 2026: Hourly and Monthly Rates in US Dollars. Download the data (CSV).
Income Tax and Take-Home Pay in Canada
A single worker on the average wage in Canada (about $82,000 at purchasing-power parity) pays 25.6% of gross pay in income tax and employee social security, so they keep 74%. That is 18th highest of 38 countries, against an OECD average of 25.1%.
Income tax and employee social security take 25.6% of pay at the average wage, 22.1% at two-thirds of it and 31.1% at 1.67 times it. Including employer contributions, the total tax wedge is 32.1% of labour costs.
Full table for every country, with sources: Income Tax by Country 2026: How Much of Your Salary You Keep in 38 Countries. Download the data (CSV).
Pay Rises in Canada: 2027 Forecast
Employers in Canada expect to raise salaries by 3.2% in 2027 (median of the major pay surveys), after 3.4% in 2026. With inflation at 3.1% (Sep), that is a real rise of about 0.1 points.
Full table for every country, with sources: Salary Increase Forecasts 2027 by Country: Every Major Survey in One Table. Download the data (CSV).
Mortgage Rates in Canada (2026)
The typical mortgage rate in Canada is 5.14% (5-year fixed, big bank, Oct 2026), 7th highest of 31 countries.
BMO's standard 5-year fixed from 7 October; the best broker rates are around 4.1% to 4.4%. Bank of Canada rate 2.25%.
Full table for every country, with sources: Mortgage Rates by Country 2026: Where Buying a Home Costs the Most. Download the data (CSV).
Retirement Age in Canada
The state pension age in Canada is 65 for people reaching it in 2026; the earliest you can claim is 60 (CPP, reduced). Future change: none legislated. CPP can start from 60 to 70; Old Age Security from 65, deferrable to 70.
Full table for every country, with sources: Retirement Age by Country 2026: State Pension Ages in 39 Countries. Download the data (CSV).
How Much the State Pension Pays in Canada
A full-career average earner in Canada can expect a mandatory pension worth about 45.1% of their previous net pay, 10th least generous of 50 countries (OECD average 63.2%). Low earner (half the average wage): 56%. High earner (twice the average): 25%. Including common voluntary private pensions, an average earner would get 71%.
Full table for every country, with sources: State Pension Amounts by Country 2026: How Much Retirees Actually Get. Download the data (CSV).
How Much of Your Money Is Protected in Canada
Bank deposits in Canada are protected up to C$100,000 per depositor, per bank (about $71,500), under the CDIC scheme. Per eligible category. Money in payment apps and e-money wallets is usually not covered.
Full table for every country, with sources: Deposit Insurance Limits by Country 2026: How Much of Your Money Is Protected. Download the data (CSV).
Inheritance Tax in Canada
Canada has no inheritance tax for children. Assets are treated as sold at death, so capital gains tax is due on the gain; transfers to a spouse are deferred.
Full table for every country, with sources: Inheritance Tax by Country 2026: Thresholds, Rates and Who Pays. Download the data (CSV).
Frequently Asked Questions
What is the minimum wage in Canada in 2026?
The minimum wage in Canada is C$18.15/hour, about $2,248 a month for full-time work. That is 9th highest of 38 countries. Federally regulated sectors from 1 April 2026; provinces set their own rates.
How much tax do you pay in Canada?
On the average wage, income tax plus employee social security in Canada take 25.6% of gross pay, so a single worker keeps 74% (OECD average: 25.1%).
What is the average pay rise in Canada for 2027?
Pay surveys forecast an average salary increase of 3.2% in Canada for 2027, against inflation of 3.1%.
What are mortgage rates in Canada right now?
Mortgage rates in Canada are about 5.14% (5-year fixed, big bank, Oct 2026). BMO's standard 5-year fixed from 7 October; the best broker rates are around 4.1% to 4.4%. Bank of Canada rate 2.25%.
What is the retirement age in Canada?
The state pension age in Canada is 65 in 2026, with the earliest claim at 60 (CPP, reduced). Legislated change: None legislated.
How much is the state pension in Canada?
In Canada, mandatory pensions replace about 45.1% of an average earner's net pay after a full career, against an OECD average of 63.2%.
How much money is insured in a bank in Canada?
Deposits in Canada are insured up to C$100,000 per person, per bank.
Is there inheritance tax in Canada?
No. Canada does not tax inheritances passed to children. Assets are treated as sold at death, so capital gains tax is due on the gain; transfers to a spouse are deferred.
Compare Canada With Other Countries
See every country side by side in Compare Countries 2026: Minimum Wage, Tax, Mortgage Rates, Energy and Pension Age in 35 Countries, or open a country page: Australia, Austria, Belgium, Brazil, China, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, India, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Slovenia, South Africa, South Korea, Spain, Sweden, Switzerland, the United Kingdom, the United States.
Related Guides
- Minimum Wage by Country 2026: Hourly and Monthly Rates in US Dollars
- Income Tax by Country 2026: How Much of Your Salary You Keep in 38 Countries
- Salary Increase Forecasts 2027 by Country: Every Major Survey in One Table
- Mortgage Rates by Country 2026: Where Buying a Home Costs the Most
- Retirement Age by Country 2026: State Pension Ages in 39 Countries
- State Pension Amounts by Country 2026: How Much Retirees Actually Get
- Deposit Insurance Limits by Country 2026: How Much of Your Money Is Protected
- Inheritance Tax by Country 2026: Thresholds, Rates and Who Pays
- How Much Emergency Fund Do You Need? (With Calculator)
Figures checked against the official sources listed in each linked guide in October 2026. Exchange-rate conversions are approximate. This page is for information and isn't financial or legal advice.
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