How much percentage canadian taxes will take off my pay.?

Question

thanks but I dunno if this will help because I<m only a teenager and Im only on a 6 weeks contract so I dunno

Answer 1

Depends on which province you live in.

Federal Taxes.

    * 15% on the first $37,885 of taxable income, +

    * 22% on the next $37,884 of taxable income (on the portion of taxable income between $37,885 and $75,769), +

    * 26% on the next $47,415 of taxable income (on the portion of taxable income between $75,769 and $123,184), +

    * 29% of taxable income over $123,184.

Check out link for provincial tax rates as well as federal.

If you are moving from the states, we do pay more taxes here then you.

On average you should expect to pay half of your salary on taxes.

Answer 2

If you only earn $4000 for the year and you have no other income, you do not have to pay any income taxes, because the annual personal tax exemption of about $9000 (depending on the province you live in) would make lesser income free from income taxes.

Answer 3

Not enough information to ans.

Depends on

1. What province

2. Your Age

3. Your Salary

Examples for Ontario

Taxable Income of

20,000  Tax 2,253.00

30,000 Tax 4,358.00

40,000 Tax 6,800.00

50,000 Tax 9,915.00

Divide each by 52 for weekly.

Note this is basic tax only there will also be deductions for CCP and EI

Answer 4

shouldn&#039;t you ask this in the yahoo! answers for Canadians?

go here please:

http://ca.answers.yahoo.com/;_ylt=AraIMR...

Answer 5

First of all if you are not on payroll with the company that you are doing work for you won&#039;t pay any deductions on the $ 4000.00 at all period. I am assuming this because you said it was only a temporary 6 week contract and then you are done. If the company does put you on payroll they will deduct income taxes (federal and provincial), employment insurance and possibly canada pension plan (if you are 18 years of age and older). Also, it depends on what province you are earning this money in and on what province you permanently reside in. These factors are huge in calculating the exact amount. To give you some examples though:

1. Ontario resident and Ontario employer and you will receive a weekly (assumed pay period from the employer) gross pay of $ 666.67 ($ 4000.00 divided by 6 weeks), your  net paycheque will be then $ 528.77 after all income taxes, EI and CPP (assuming no other deductions or benefits). So over the 6 weeks in total you will receive $ 3172.62 (528.77 times 6 weeks) net pay. The other $ 827.38 ($ 4000 minus $ 3172.62) of course pays all your taxes, CPP and EI on that total amount.

Now in saying this, if this is your only income that you receive in 2008, you will get back every penny of the $ 827.38 in deductions back come next April 2009 when you file your personal income tax return for 2008. This is because for 2008, every Canadian taxpayer receives the first $ 9600 per year of income,  tax free. So either way you won&#039;t pay any taxes at all (in the end) if this is the only income you plan on making for 2008.

Good luck