I just got a full time job as a summer student. I live in Ontario. I work 35 hours/week @ 9.36/hr. That works out to about $328/week. I have CPP and EI deductions, but Im worried because I'm not sure if I have to pay income tax. I go back to school in september and stop working.
My question is whether I have to pay income tax and what my total deductions will be.
Confused about income tax?
If your total earnings for the year are expected to be less than $9600, you can sign a declaration on your TD1 (which you'll fill out when you're hired), to have no income tax deducted. Make an honest estimate, it's illegal to lie.
Otherwise, for deductions, see
http://www.cra-arc.gc.ca/eservices/tax/b...
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment