01-25-2020, 01:41 PM
(01-25-2020, 02:04 AM)taylortbb Wrote:(01-25-2020, 12:06 AM)Momo26 Wrote: Are you including federal? If also include CPP and EI deductions that's more like:
Salary
$80,000
Federal tax deduction
- $11,245
Provincial tax deduction
- $5,566
CPP deductions
- $2,749
EI deductions
- $860
Total tax
- $20,420
Net pay
* $59,580
I don't think it's fair to call EI and CPP taxes. EI I could see the argument, but CPP is just mandatory retirement savings.
It's considered a Payroll Tax (CPP and EI) -- though the point was that if you earn $80,000, your deductions won't leave you with $70,000.