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Archived [ARCHIVED THREAD] - income taxes and how it works for you guys
Posted: 10/14/2015 8:54:12 AM EDT
Down here I hear about the amount of taxes you guys pay out of your paychecks.

Not counting any type of savings (401k I guess you guys have that, ect) how much of your check do you pay in taxes percentage wise? Say you make $1,000 bucks a week ($1297 Canadian Dollar per google this morning) how much do you pay out? I have heard it's 50%.

Link Posted: 10/19/2015 10:21:04 PM EDT
[#1]
It varies depending on your income. Plus provinces charge different amounts as well.



http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html
Link Posted: 10/26/2015 1:37:19 PM EDT
[#2]
there is also a little known piece of legislation that few are aware of that also must be kept in mind, The BOHICA Act of 1968.......when you pay the taxes its always like your are getting BOHICA'ed

Mark
Link Posted: 11/4/2015 5:12:30 PM EDT
[#3]
I pay around 20 percent. And that includes everything, even my $600 per year health insurance premium.

Archived [ARCHIVED THREAD] - income taxes and how it works for you guys
Page Hometown » Canada
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