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dealpig
Mar 26th, 2006, 01:39 PM
I'm trying to determine how accurately my employer is deducting taxes from my cheques so there are no big surprises when tax time comes.

I've taken a look at http://www.walterharder.ca/MarginalTaxRateCalculator.html and grabbed the figure for total average tax rate as well as total taxes payable (2005).

I have a variety of deductions taken off my cheque (CPP, EI, Federal Tax, death/disability coverage, dental, life insurance). Am I correct in assuming that the year to date figures for CPP + EI + Federal Tax constitutes the year to date figure of what I've paid in taxes?

Thanks for any help

WildEmu
Mar 26th, 2006, 03:06 PM
Try CRA's own program "Tax on Diskette" to see if your employer is taking off federal/provincial tax, CPP and EI right.

http://www.cra-arc.gc.ca/tax/business/tod/menu-e.html

As for everything else that you mentioned (insurance, dental etc.), every plan is different so you'll have to look up the specifics from your employer

dealpig
Mar 26th, 2006, 03:27 PM
Thanks for the reply. I downloaded the program and it matches almost exactly with my paycheque.