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| *The Commerce Journal>>>Canada Taxes |
What means the Goverment deductions incl. tax,CPP, AND EI? |
I麓m mexican, and my canadian job contract says this into the deductions. Also I don麓t understand this, because I have never been working to foreing companies. Don't worry about these; most workers in Canada see them on their pay stubs. They're all there for good reasons. The tax deduction is the amount taken off to pay towards your annual income tax -- much better than having to pay the whole amount just once a year. CPP is the amount put aside for your Canada Pension Plan, so that when you stop working and are at least 60 years old, you can have some pension income. EI is Employment Insurance, so that if and when you get laid off from this job, you can go to the EI office and get enough money to keep you going till you find another job. CPP - Canada's Pension Plan EI - Employment Insurance CPP - This money you will get when you retire EI - This you will also get when you loose your job, until you find another one it will be your source of income for the time being. |
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mks6128, the financial advisor's will first set up the group RRSP. An employee has option to how much he/she can invest monthly according to his/her contribution room. The employees w... No, you don't go to jail in Canada for non payment of taxes. You can go to jail for tax evasion, though, which is something completely different than non-payment of tax. For your si... Your question is not very clear, but the other numbers may refer to the deductions withheld from your pay, such as income tax, Canada Pension Plan (CPP) contributions, Employment Insurance (... If you have no other sources of taxable income then you would not owe any tax, as the $4,800 is below the basic personal exemption. If you have other income then it is possible that you wou... Yes, the CRA sends you a statement for every transaction on your 'account'. Direct deposits... Assessments... payments... etc... Those forms are automatically sent out when your GST/HST credit is paid to you by cheque. It is more timely and cost efficient for the CRA to do direct deposit straight to your bank account... You need to file a tax return under Section 216 of income tax act. Do you have a rental agent to help you rent out the property and collect rent? If yes, they may withhold part of the re... I sure hope not! CRA has a website: ... |
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