What will my take home be? I will be making 10.00 an hour and working 40 hours a week.?

Question

I live in Ontario, Canada. I read that the CPP premium is 4.95% and the EI is 1.73% but based on what? Also what other taxes will they take off?

Thanks :)

Answer 1

Ignore the spam above me, of course.

Check out this CRA calculator, it will tell you what you need to know.

http://www.cra-arc.gc.ca/eservices/tax/b...

Answer 2

Well your gross is easy, $800/biweekly.

Doing the calculations from scratch are a little difficult, income tax starts kicking in more seriously after you cross the $9,000 mark (unless you've changed some details on your TD1), and EI and CPP max out at certain points.

As a rule of thumb I'd expect your take home would be about 70-80% of your gross after everyone has taken a bite, so figure you'd net about $580-$660 +/- every two weeks.

Hope that's some help.