Friday, May 21, 2010

After-tax take home pay??

If i earn around 35000 Canadian dollar salary, what would be my take home pay after taxes and other deductions (CPP and EI). i also have a lot of tuition credit that i havent used...thanks.

After-tax take home pay??
You can actually go to the revenue canada website (http://www.cra-arc.gc.ca/menu-e.html) - under Payroll they have a calculator. According to it, with a salary of $35,000 that gives you around $1346 per bi-weekly paycheque, the federal tax would be $136.39, provincial would be $67.98, CPP would be $59.96, and EI would be $24.23, so the take home pay would be around $1,057.44. Tuition is a tax credit (for 2006, federal was 15.25%, and provincial was 6.05%). So depending on how much unused tuition you have, whether you were a full-time or part-time student, etc... you may be able to get most of your taxes back.


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