Residents of BC need to pay into their health care system as a separate contribution. While not strictly a payroll deduction, I’m including it here for fairness in comparing with Ontario, Québec, and the other provinces. Ontario Ontario Health Prem...
After-tax income: $5,000 Needs: $2,700 (54%) Wants: $1,800 (36%) Savings: $500 (10%) In the above scenario, this person is spending too much on their needs and wants, which means they won’t have enough to satisfy the savings part of the rule. To fix the issue, they sho...
This is what is meant by “revenue-neutral” — the benefits of the tax are reaped by consumers both environmentally and economically. The problem, as Mildenburger’s study has determined, is that most people don’t know it. For example, almost half of the responde...
First, you want to review how much money is being withheld from your pay for federal taxes. Having too little tax withheld could result in a tax bill or penalty. If too much tax is withheld, you could get a refund. You should check your withholdings when you have major life changes, ...
Whyte:We found that doctors think they pay too much tax. That's not surprising. Everybody thinks they pay too much tax, don't they? But are there certain strategies to lower tax that physicians sometimes neglect? What do you recommend to your clients?
Toronto's cost of living has grown to absolutely outrageous proportions in recent years, and people of all demographics are feeling the pressure — but for single people, it's especially bad, and is getting significantly worse. As moreyoung peopleandnewcomersflee Ontario to greener (cheaper) past...
Corala Cashmere is a luxury Canadian boutique offering premium quality scarves, shawls, and hats handwoven from the world’s finest cashmere. Started 2013 and based in Ottawa, Ontario. Welcome Dave and Praj. Praj: Oh, thank you very much. Dave: Hi, how’re you doing? Felix: Good. Good...
For regular working folk, the easiest way to become rich is to save and invest. At least that’s how we did it. The first step in that equation is to find a way to save as much of your cash flow as possible. How do you do that? You need to first figure out your cash flow. ...
How Much Income Tax Will I Pay on My CPP? CPP income is taxed as it counts as income. You can ask that federal income tax be deducted from your payments by making the request through Service Canada. If you do not take the deductions from the payments, you will be asked to pay your ...
A defined benefit plan is the most common type of employer-sponsored retirement pension plan. Employee benefits are calculated using a formula to that considers how long an employee has worked for the company and how much salary they earned. The employer is responsible for managing the plan's ...