Once you have identified what your income is, you need to know …
Once you have identified what your income is, you need to know what percentage you'll pay as income tax. People with a lower income pay a lower tax rate than people with a higher income. This is known as a graduated income tax system.
Federal income tax Your income falls into one of four income tax brackets (or segments). The tax bracket is based on your taxable income—that is, your total income minus allowable deductions and exemptions, as discussed in the section titled Reducing your taxes.
Each province and territory also charges income tax in addition to the …
Each province and territory also charges income tax in addition to the federal income tax. Their rates and tax brackets vary. The chart below shows their tax rates.
The CPA Canada Standards and Guidance Collection is a complete electronic reference …
The CPA Canada Standards and Guidance Collection is a complete electronic reference source, providing up-to-date information on accounting and assurance standards, public sector accounting standards, and much more.
For each year, the CRA provides the: Maximum pensionable earnings Year's basic …
For each year, the CRA provides the:
Maximum pensionable earnings Year's basic exemption amount Rate you use to calculate the amount of CPP contributions to deduct from your employees' remuneration On this page CPP contribution rates, maximums and exemptions CPP basic exemption amount by pay period References
For each year, the CRA provides the: Maximum insurable earnings Rate you …
For each year, the CRA provides the:
Maximum insurable earnings Rate you use to calculate the amount of EI premiums to deduct from your employees' remuneration. On this page Federal EI premium rates and maximums Quebec EI premium rates and maximums References
Employers must pay employees on their regularly scheduled paydays. Wages must be …
Employers must pay employees on their regularly scheduled paydays. Wages must be paid in Canadian currency, by cheque or by direct deposit.
Employers must provide a statement of earnings or pay stub on each pay day and when making payments of wage adjustments. They must also maintain payroll records required by the legislation.
Unless the employer can show otherwise, wages and other amounts that are not shown on the pay stub or in payroll records are considered not to have been paid.
Use the Payroll Deductions Online Calculator (PDOC) to calculate federal, provincial (except …
Use the Payroll Deductions Online Calculator (PDOC) to calculate federal, provincial (except for Quebec), and territorial payroll deductions. It will confirm the deductions you include on your official statement of earnings.
You assume the risks associated with using this calculator. The reliability of the calculations produced depends on the accuracy of the information you provide.
Information on when and how to remit, report a nil remittance, confirm …
Information on when and how to remit, report a nil remittance, confirm your remittance was received and correct remitting errors or misallocated payments.
"A one-stop-shop for educators working to increase students’ financial literacy skills. This …
"A one-stop-shop for educators working to increase students’ financial literacy skills. This program is built by teachers to provide resources and activities that connect directly to 42 modules in Saskatchewan’s Financial Literacy 20, 30 curriculum. Free middle years and secondary level content can be accessed on the site, and educators can inquire about professional development opportunities."
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