Posted on: 12-01-08 11:55:25
I know many will think, what I am asking and for most of us its unimportant
But I want to know for my knowledge
If someone is getting Semi-monthly pays at workplace
Thats means First pay will be on 15th Jan, but that is for work completed as of 31st Dec which included pay for holidays on 25th & 26th as well as any overtime.
So pays on 15th Jan will be included for year 2007 or will it be for 2008
I think that shd go for year 2007
But if its for year 2008, can someone tell why?
Quote:
Originally posted by mumdxbcan
I know many will think, what I am asking and for most of us its unimportant
But I want to know for my knowledge
If someone is getting Semi-monthly pays at workplace
Thats means First pay will be on 15th Jan, but that is for work completed as of 31st Dec which included pay for holidays on 25th & 26th as well as any overtime.
So pays on 15th Jan will be included for year 2007 or will it be for 2008
I think that shd go for year 2007
But if its for year 2008, can someone tell why?
Your T4 would have this information ....
Quote:I get paid that way.
Originally posted by mumdxbcan
If someone is getting Semi-monthly pays at workplace
Thats means First pay will be on 15th Jan, but that is for work completed as of 31st Dec which included pay for holidays on 25th & 26th as well as any overtime.
So pays on 15th Jan will be included for year 2007 or will it be for 2008
I think that shd go for year 2007
But if its for year 2008, can someone tell why?
I believe any monies paid to you starting from 1st Jan is part of 2008 and not 2007, regardless of when the work was actually done.
So yes, for most salaried folks, the payment is for work done until 31st Dec (incl. holidays), but it is included as part of 2008 (at least in my case).
I know for sure because the EI and CPP deductions re-started on my Jan 1st cheque, which were not there on the 15th Dec cheque.
YMMV.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Thanks pratickm for information
