Accountant Salary in Toronto (2026)
Is 79,360/year enough to live in Toronto?
Trusted by 50,000+ Canadians · Updated for 2026 tax rates · Try different salary
Accountant Salary Analysis in Toronto
Finance professionals in Toronto benefit from a diverse employer base spanning banking, insurance, and corporate finance. Accountants average $79,360/year, reflecting both local market conditions and the city's cost of living index of 128.
After federal and Ontario provincial taxes at a combined rate of 29.5%, take-home pay is approximately 55,925/year — or $4,660/month.
Toronto is one of Canada's most expensive cities, and a accountant salary requires careful budgeting. A 1-bedroom apartment runs $2,400/month, leaving limited room for savings. Many professionals opt for roommates or consider nearby suburbs to stretch their take-home pay further.
Accountant Salary Range in Toronto
Cost of Living in Toronto
Housing Costs
City Overview
How to Increase Your Accountant Salary
CPA or CFA designation can increase salary by $15,000–$30,000/year
Big 4 accounting firms offer structured career paths and strong starting salaries
Financial services in Toronto and Calgary tend to pay the highest in Canada
Frequently Asked Questions
What is the average accountant salary in Toronto?
The average accountant salary in Toronto, ON is $79,360 per year as of 2026. This is above the national average of $62,000, primarily due to Toronto's cost of living index of 128 (Canada average: 100).
How much does a accountant take home after taxes in Toronto?
After federal and Ontario provincial taxes (combined effective rate: 29.5%), a accountant in Toronto takes home approximately $55,925/year — that's $4,660/month or $2,151 bi-weekly.
Is $79,360 a good salary in Toronto?
Toronto has a high cost of living (index: 128), so $79,360 is a comfortable salary that covers housing and living expenses with room to save.
What is the salary range for accountants in Toronto?
Accountants in Toronto typically earn between $57,600 and $108,800 per year, depending on experience, specialization, and employer. Entry-level positions start around $57,600, while senior roles can exceed $108,800.
How fast is the accountant job market growing in Toronto?
The accountant field is growing at approximately 6.8% nationally, a steady pace that reflects stable long-term demand. Toronto currently has an estimated 1,319 openings, with an unemployment rate of 6.2%.