Posted on: 29-08-09 15:55:43
Hey guys,
Hope all of you are doing well....I have been visiting this site for the past month or so...When a question is asked by a person everyone has something to say which is good.
I will be migrating to Canada soon..and might be settling in Toronto (GTA)...
My question has 2 parts
1- I know that i have to apply for SIN as soon as i reach Canada...But will a employer hire me if i show him the SIN receipt??or should i wait for 20 odd days to get my proper SIN card and then apply for a job.
2- I dont know much about the tax situation in Toronto...For example if i work at a convenience-store...my hourly wage is 10$/hour and i work for 8 hours a day...it makes my income 2400$ monthly....
What type of taxes will i pay on my income?(Kindly mention the specific names of those taxes)
What will be my take home after paying all those taxes on 2400$?
Will be waiting for some response
tc
bye
Quote:
Originally posted by moqim
Hey guys,
Hope all of you are doing well....I have been visiting this site for the past month or so...When a question is asked by a person everyone has something to say which is good.
I will be migrating to Canada soon..and might be settling in Toronto (GTA)...
My question has 2 parts
1- I know that i have to apply for SIN as soon as i reach Canada...But will a employer hire me if i show him the SIN receipt??or should i wait for 20 odd days to get my proper SIN card and then apply for a job.
2- I dont know much about the tax situation in Toronto...For example if i work at a convenience-store...my hourly wage is 10$/hour and i work for 8 hours a day...it makes my income 2400$ monthly....
What type of taxes will i pay on my income?(Kindly mention the specific names of those taxes)
What will be my take home after paying all those taxes on 2400$?
Will be waiting for some response
tc
bye
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You asked for it. (Toyota)!!
1) YES. They accept the number you will provide. Show them the card after the receipt of the same.
2) Here, most employers work 40 hour week. If they ask you to work over and above that you can ask the employer, prior to start of the employment, if they will provide you with Overtime rate. It is 1.5 times the hourly rate.
So, you only work 22 x 8 = 176 hours per month on an average. Multiply that by the rate and you will get your monthly wages. From your input it will be $1760.
Here is the link to the tax brackets : Follow them as closely as you can.
http://www.kpmg.ca/en/services/tax/documents/2009_Federal_and_Prov_Income_Tax_Rates_0309.pdf
What the terminology means: : http://www.rbc.com/canada/settled/finances/payroll.html
You get to keep the first $9600 (in the last year). It will be more for the current year adjusted to the cost of living index. Which means it is slightly more. The tax kicks in after the first 9600 +.
There are Provincial taxes also: You will have to learn to use the tables that are provided here under.
Without knowing the family base, we cannot provide you with the exact taxes. So, when you arrive here please contact the Canada Revenue Agency and get the tax package for new arrivals in Canada, from them.
Additional help: http://softrontax.com/resources_federal_tax.htm
Here is a phone link: http://www.cra-arc.gc.ca/cntct/phn-eng.html
TABLES: http://www.cra-arc.gc.ca/E/pub/tg/t4032on-4/t4032-on-4-09b.pdf
This should make it as clear as mud.
Hope this clears your tax doubts.
Freddie.
Thank you very much for your help Freddie....I really do appreciate the effort.
I will go through the links that you have provided....
I will get back if i have any more question's
thanks once again
tc
