How much income and payroll taxes do you pay? (user search)
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  How much income and payroll taxes do you pay? (search mode)
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Author Topic: How much income and payroll taxes do you pay?  (Read 2912 times)
Gabu
Atlas Star
*****
Posts: 28,386
Canada


Political Matrix
E: -4.32, S: -6.52

« on: August 03, 2005, 09:18:10 PM »

Pulling up a random paystub off of our internal servers, I pay $437.29 in federal income tax per month.

As far as I can tell, that's the only tax that gets taken off.
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Gabu
Atlas Star
*****
Posts: 28,386
Canada


Political Matrix
E: -4.32, S: -6.52

« Reply #1 on: August 03, 2005, 09:30:00 PM »
« Edited: August 03, 2005, 09:45:35 PM by Senator Gabu, PPT »

Do you pay American or Canadian taxes when you're in the US?

Edit: Yes, I know, possibly a very stupid question Tongue
Both.

Ahem, I'm capable of answering for myself. Tongue

Do you pay American or Canadian taxes when you're in the US?

Mostly American.  Someone on the interns email discussion group here at Microsoft asked a tax consultant about this, and his response was that you have to declare the income when you get back to Canada, but that you can deduct the taxes that you paid in America off of the Canadian taxes you have to pay, so the net effect is that I'll have the Canadian amount of taxes taken off at the end.  I don't believe that I have to pay both 100% of American and Canadian taxes on the income.
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Gabu
Atlas Star
*****
Posts: 28,386
Canada


Political Matrix
E: -4.32, S: -6.52

« Reply #2 on: August 04, 2005, 03:47:28 AM »

Gabu, you work for Microsoft?  They pay their Waterloo co-op students $90K a year.  That puts them immediately into the maximum income tax bracket in Ontario.

Given that I'm only working here for work term four months in duration, I won't be making $90,000.
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