How much income tax will I pay?
Sep 3rd 2008, 12:51 pm
#1
Forum Regular
Thread Starter
Joined: Aug 2008
Posts: 78
How much income tax will I pay?
My offer job is in BC with a salary less than 37K. I wanna get an estimation o f how much income tax will I have to pay?
I don't understand the Canadian tax system but according to this page http://www.cra-arc.gc.ca/tx/ndvdls/f...tml#provincial, I can see there are two types of taxes: provincial and federal. Please correct the following if I'm wrong:
for a salary less than 37K in BC, provincial = 5.4% and federal = 15% so a total of 19.4% will be deduced from my salary?
Thank you
Amir
I don't understand the Canadian tax system but according to this page http://www.cra-arc.gc.ca/tx/ndvdls/f...tml#provincial, I can see there are two types of taxes: provincial and federal. Please correct the following if I'm wrong:
for a salary less than 37K in BC, provincial = 5.4% and federal = 15% so a total of 19.4% will be deduced from my salary?
Thank you
Amir
Sep 3rd 2008, 1:12 pm
#2
Joined: Apr 2005
Posts: 9,606
Re: How much income tax will I pay?
My offer job is in BC with a salary less than 37K. I wanna get an estimation o f how much income tax will I have to pay?
I don't understand the Canadian tax system but according to this page http://www.cra-arc.gc.ca/tx/ndvdls/f...tml#provincial, I can see there are two types of taxes: provincial and federal. Please correct the following if I'm wrong:
for a salary less than 37K in BC, provincial = 5.4% and federal = 15% so a total of 19.4% will be deduced from my salary?
Thank you
Amir
I don't understand the Canadian tax system but according to this page http://www.cra-arc.gc.ca/tx/ndvdls/f...tml#provincial, I can see there are two types of taxes: provincial and federal. Please correct the following if I'm wrong:
for a salary less than 37K in BC, provincial = 5.4% and federal = 15% so a total of 19.4% will be deduced from my salary?
Thank you
Amir
Sep 3rd 2008, 2:02 pm
#3
ModerĪ±tor Emeritus
Joined: Sep 2003
Location: Upstate South Carolina
Posts: 30,768
Re: How much income tax will I pay?
One of the links in the wiki as I recall is;
http://www.taxtips.ca/calculators/taxcalculator.htm
You will in all likelyhood pay less than the calculator estimates as you will probably be able to make deductions from your income to come up with your taxable income.
Calculator for basic 37k amount says 20.2% tax, including EI and CPP deduciton amounts.
http://www.taxtips.ca/calculators/taxcalculator.htm
You will in all likelyhood pay less than the calculator estimates as you will probably be able to make deductions from your income to come up with your taxable income.
Calculator for basic 37k amount says 20.2% tax, including EI and CPP deduciton amounts.
Last edited by iaink; Sep 3rd 2008 at 2:12 pm.
