Last paycheque I made less than $1000. Total tax I paid on that was about $22.
This paycheque I made over $1000. Total tax I paid on that was about $220.
The difference in taxes I'm paying is insane! How does it even work?! I'm paying 10x more in tax but I certainly didn't make 10x more in wages.
I took a $5/hr increase in pay by switching jobs, but 2.5 hours less per week. Somehow, I'm still making almost exactly the same amount at my new job as my old job.
No wonder dad complains about taxes all the time. No wonder so many people are in debt. I don't even have a mortgage to worry about. Taxes are killing me!
Subscribe to:
Post Comments (Atom)
2 comments:
lol - welcome to the world of working and taxes :)
having said that, such an extreme difference seems kinda weird - depending on how much less than $1K you earned on your first paycheque.
1. was the first employer not taking off enough taxes?
2. is the second employer taking too much? (did you complete one of those T-whatevernumber forms, and if so, did you plug in different numbers than at employer #1?
$220 on $1000 seems about right for a $24K or so salary.
Don't worry, eventually you'll get kinda numb to the pain. And think of it every time you push a stoplight (your taxes), if a friend ever needs EI (your taxes), when you take a course at university (your taxes)....
When you say $22 and $220, are you talking about only the taxes or all contributions (EI, union, etc.)? Check what kind of contributions you are making at the new job.
On a little off-note, the Canadian Banking Association prints some very useful financial guides. You can order them free from here: http://www.cba.ca/en/publication_list.asp
They are quite useful. Info booklets are free.
Post a Comment