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1. • • These deductions mean that the amount on your paycheque will be less than the total income you earned. Your employer must withhold and remit these amounts directly to the Canada Revenue Agency (CRA). However, you do get credit for having paid these amounts, which are reported on your T4, when you file your annual tax return.
     www.getsmarteraboutmoney.ca/learning-path/understanding-tax/understanding-the-tax-deductions-on-your-pay-stub/

     Understanding the tax deductions on your pay stub

2. People also ask

   Can I deduct money from my paycheque?

   • In the case of your paycheque, money can be deducted for lots of reasons. The most common are: This is a tax you pay to the federal government of Canada. It’s a progressive tax, meaning you pay 15 per cent on the first $55,868 of income but 20.5 percent on every dollar over that amount, up to $111,733.

   Understanding your paycheque in Canada - easyfinancial

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   What is a tax deduction on a paycheque?

   • These deductions mean that the amount on your paycheque will be less than the total income you earned. Your employer must withhold and remit these amounts directly to the Canada Revenue Agency (CRA). However, you do get credit for having paid these amounts, which are reported on your T4, when you file your annual tax return.

   Understanding the tax deductions on your pay stub

   www.getsmarteraboutmoney.ca/learning-path/understanding-tax/understanding-the-tax-deductions-on-your-pay-stub/

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   What happens if I get a tax refund from my pay cheque?

   • If you’re an employee, your employer will deduct income tax from your pay cheque. This is known as tax deductions at source. Your employer then sends this tax on your behalf to the Canada Revenue Agency (CRA). If you regularly get a tax refund from the CRA, this is no cause for celebration. You may be having too much tax withheld at source.

   Reducing the tax taken from your pay cheque

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   Do I have to deduct Quebec income tax?

   • If you pay your employee remuneration or other income and their province of employment is Quebec, as well as deducting federal income tax, you will also have to deduct Quebec provincial income tax and remit the provincial tax to Revenu Quebec. Learn more: Source Deductions of Québec Income Tax | Revenu Québec (revenuquebec.ca).

   Calculate payroll deductions and contributions - Canada

   www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/payroll-deductions-contributions/income-tax.html

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   How do I reduce tax taken from my pay cheque?

   • The 3 ways to reduce tax taken from your pay cheque: Give your employer accurate information to calculate tax withheld at source. Tell your employer if your personal circumstances change. Apply to the CRA to reduce tax withheld at source. If you regularly get a tax refund from the CRA, this is no cause for celebration.

   Reducing the tax taken from your pay cheque

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   Do I need to send a copy of my paycheque?

   • You do not have to send a copy to the CRA. The amount of income tax that was deducted from your paycheque appears in Box 22 of your T4 – Statement of Remuneration slip. If you have other income sources, income tax may be withheld on these payments as well.

   Employee’s Guide to Income Tax Withholding - TurboTax® Canada

   turbotax.intuit.ca/tips/employees-guide-to-income-tax-withholding-244

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3. www.canada.ca › en › revenue-agencyPayroll Deductions Online Calculator - Canada.ca

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   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.

4. www.getsmarteraboutmoney.ca › learning-pathUnderstanding the tax deductions on your pay stub

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   Sep 9, 2024 · For investors, it’s…. and other amounts deducted for income tax, EI and CPP. Depending on how you get paid, your pay stub may be a paper slip or a digital record. Your pay stub will either be attached to your cheque or to a direct deposit statement.

5. www.canada.ca › income-taxAbout the deduction of income tax – Calculate payroll ...

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   As an employer or a payer, you are required to deduct federal and provincial or territorial income tax from remuneration and other income that you pay. You need to determine which provincial or territorial income tax you are required to deduct based on the province of employment of the employee.

6. www.getsmarteraboutmoney.ca › learning-pathReducing the tax taken from your pay cheque ...

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   Jun 11, 2024 · If you’re an employee, your employer will deduct income tax from your pay cheque. This is known as tax deductions at source. Your employer then sends this tax on your behalf to the Canada Revenue Agency (CRA).

7. www.canada.ca › en › revenue-agencyIncrease or reduce income tax deducted at source - Canada.ca

   www.canada.ca › en › revenue-agency

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   Increase or reduce income tax deducted at source. Depending on the situation, your employee may request an increase or a reduction to income tax deductions. Certain life events may also affect amounts to be withheld from payments to them.

8. turbotax.intuit.ca › tips › employees-guide-toEmployee’s Guide to Income Tax Withholding - TurboTax® Canada

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   Nov 9, 2023 · The amount of income tax that was deducted from your paycheque appears in Box 22 of your T4 – Statement of Remuneration slip. If you have other income sources, income tax may be withheld on these payments as well.

9. www.easyfinancial.com › academy › blogUnderstanding your paycheque in Canada - easyfinancial

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   All employees get deductions taken off their paycheques including income tax, employment insurance, and the Canada Pension Plan. Be sure to ask your employer what deductions they take.