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/sci/ - Science & Math

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5419556 No.5419556 [Reply] [Original]

Obviously, I tried to do a quick google search. Maybe I'm not using the correct terms. A quick note before I begin, I'm talking about Canadian taxes/pay.

I've been wondering this for a while; how do you calculate how much taxes, E.I., should be taken from your pay? A friend claimed that if he worked simply 2 more hours a week, he would make LESS money for working more hours. As for myself, I am considering taking another job... it would be much less pay than my current job, so I want to weigh the tax implications of this.

Is there any gov't web page which explains this?

>> No.5419602

please respond

>> No.5419625

>>5419556
I highly doubt Canadian tax law is structured so that one makes less money from working more. Strongly. Instead I suspect your friend simply doesn't understand marginal rates.

>> No.5419641

>>5419625
Yeah... that's really not the bulk of my worries. I was just looking for something solid to figure out how these deductions work.

Basically I have a decent job as it is, but I have student loans. I figure if I'm being taxed a certain portion already, I'm not taking a min wage job, which gets cut down from 10 to 8 bucks an hour because of my primary job.

>> No.5419651

>>5419641
Well I'm an american so I have zero expertise on canadian tax laws but I can tell you that *practically* in the US:
1) additional pay for the same company is often taxed at very high rates (e.g. bonuses)
2) additional pay for some unrelated company is taxed as if it were your only job because what the fuck do they know

I would be willing to bet things are similar in Canada.

>> No.5419661

I'm sure you can find automatic tax calculators on government websites.
There are different ways to calculate taxes so it's very country-specific.

>> No.5419718

I use a page with the answer to part of your question for work, looking for it now.

>> No.5419723

>>5419718
And I deliver.

http://www.cra-arc.gc.ca/tx/llrts/menu-eng.html

>> No.5419729

>>5419723
>>5419718
awesome, thanks anon. Couldn't find this page on the site for the life of me