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Thu, Apr 28th, 2016, 10:05 AM #121
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Thu, Apr 28th, 2016, 10:31 AM #122
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Mine was automatic. I never asked them to increase or decrease the taxes. Do you have a special case like self-employment? On the website, it says it's supposed to be automatic.
http://www.esdc.gc.ca/en/reports/ei/...page#h2.4-h3.6
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Thu, Apr 28th, 2016, 10:37 AM #123
No no self employment. People had told me that EI takes out a bare minimum of taxes and you would be required to pay back quite a bit come tax time if you didn't ask them to increase. Stupid me didn't listen.
http://www.babycenter.ca/thread/1167...e-was-finished
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Thu, Apr 28th, 2016, 12:26 PM #124
- Join Date
- Mar 2009
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- Bedford, NS
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Did my taxes last night with StudioTax.....it only took 20 minutes. Submitted by Netfile and should be getting a refund of a mere $67.....better than paying in though.
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Thu, Apr 28th, 2016, 04:42 PM #125
- Join Date
- Apr 2013
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- North of Toronto
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Finally had mine done this week! Doubt I will look online for it to be assessed. Will just be a surprise when I see the refund in my account .
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Fri, Apr 29th, 2016, 08:56 AM #126
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Sorry, I had no idea. My friend who made a high income at an engineering firm paid no tax and she was my main source of info. I have a much lower income and didn't pay any tax either.
I don't know if it makes any difference but I took my mat leave in the middle of the year, so for two years worth of taxes, I had six months or so of my employer pulling off taxes. I think I still had a large refund.
Congratulations! A tax refund of slightly over $2 is my ideal. The lower your refund, the less money the government borrowed from you interest free.
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Fri, Apr 29th, 2016, 09:55 AM #127
- Join Date
- Apr 2013
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Fri, Apr 29th, 2016, 09:58 AM #128
I had no RRSP. Weird, everyone else I know had to pay in quite a bit as well...
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Fri, Apr 29th, 2016, 10:01 AM #129
- Join Date
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Fri, Apr 29th, 2016, 10:28 AM #130
- Join Date
- May 2011
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Sat, Apr 30th, 2016, 12:27 PM #131
- Join Date
- Jul 2009
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- Ontario
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@wimbly11 ,
In Gail's book, Money Rules (I'm learning about budgeting and finances), she wrote of someone who worked half the year prior to taking maternity leave for the other half year. There was a tax consequence due to EI not taking off enough tax to the tune that the person had to budget $249 per month for that tax bill gap. Gail mentioned a website she used to figure out the taxes owing-she wrote that you have to know how much income taxes at sources were taken off by your employer during the months you were working prior to your leave so you can then figure out the tax bill for the mat leave months. https://lsminsurance.ca/calculators/canada/income-tax
You'll need the gross income earned before the mat leave.
The gross income you'll receive from EI in that same year.
Add the two numbers together for total gross income.
Add up all the taxes that have been deducted from all your income.
Deduct the amount (of taxes) that's already being withheld from the amount you'll owe.
Set aside the difference in an "I must pay my taxes account."
If your mat leave runs over two calendar years, you'll have to do this calculation twice.Last edited by Ciel; Sat, Apr 30th, 2016 at 12:29 PM.
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