Hi experts.
I'm a PR applicant whose application is under review now. I'm aspiring to make Ontario as my new home. Between I need some information about how the tax system works there.
I have formulated my queries as below. Please can someone help.
1. What is tax year in Canada, like in India it is 1 Apr - 31 Mar? Does employer provide a tax statement against which we file tax return to the government or how it works?
2.What is the income based tax slab that one come under? In other words, how much percentage of tax does one need to pay whose income is between x-x CAD. For low paid jobs there might be no tax and in that case what is that cut-off value. I need the table to which I can refer.
3. Like in the UK a portion of salary goes to National Insurance (NI). Similarly do Canada have any similar deductions?
Please take your time to respond.
I'm a PR applicant whose application is under review now. I'm aspiring to make Ontario as my new home. Between I need some information about how the tax system works there.
I have formulated my queries as below. Please can someone help.
1. What is tax year in Canada, like in India it is 1 Apr - 31 Mar? Does employer provide a tax statement against which we file tax return to the government or how it works?
2.What is the income based tax slab that one come under? In other words, how much percentage of tax does one need to pay whose income is between x-x CAD. For low paid jobs there might be no tax and in that case what is that cut-off value. I need the table to which I can refer.
3. Like in the UK a portion of salary goes to National Insurance (NI). Similarly do Canada have any similar deductions?
Please take your time to respond.