[flagged]
A Canadian payroll dependency chart
21–30 of 301 posts
Re: A Canadian payroll dependency chart
#22That's funny, I made something similar a few years ago for the IRS https://nampas.github.io/tax-map/
Dear lord, that's frightening.
Re: A Canadian payroll dependency chart
#23"except anyone resident in Quebec, Nova Scotia, Yukon, or Ontario"...it is essentially 75% of Canada!
To be fair, Nova Scotia, Yukon, and Ontario each only add a handful of extra nodes. I just didn't want to bother with those because I'm in BC.
Quebec is a different matter; far more complicated to calculate payroll deductions for there.
Re: A Canadian payroll dependency chart
#24[flagged]
A 401(k) match _is_ free money though. When you leave the company, you can just cash out the account - the penalty will still probably be less than the match gave you, so you come out ahead.
Of course, it's best to just let it sit in retirement accounts until you can take a qualified distribution.
Re: A Canadian payroll dependency chart
#25[flagged]
Im in the same boat - would you mind explaining to us every other Friday folk why the employer match isn’t free money?
Re: A Canadian payroll dependency chart
#26It's a shame that we don't have open formulas in code form published by the government. The only way that I know how to do this reliably is using the web form provided by the CRA here: https://www.canada.ca/en/revenue-agency/services/e-services/... As you can imagine, doing this by hand is quite painful and error-prone.
[deleted]
Re: A Canadian payroll dependency chart
#27[flagged]
I’m always surprised at the lack of financial literacy in the general population.
It is genuinely shocking to me that there are hedge fund employees who don’t understand FICA and what a W2 means.
OTOH, having been self employed: I obsessed over taxes not because I wanted to, but because it is a tremendous and continuous pain in the ass.
Re: A Canadian payroll dependency chart
#28"except anyone resident in Quebec, Nova Scotia, Yukon, or Ontario"...it is essentially 75% of Canada!
To be fair, Nova Scotia, Yukon, and Ontario each only add a handful of extra nodes. I just didn't want to bother with those because I'm in BC. Quebec is a different matter; far more complicated to calculate payroll deductions for there.
And if the crazy proposal from the UCP in Alberta to divorce from the CPP and have their own pension system (like Quebec) is successful, it will get even crazier.
Imagine the complications of moving back and forth between provinces. Or seasonal work, etc.
Re: A Canadian payroll dependency chart
#29[flagged]
> Compare this with the self-employed who seem to "obsess" over taxes, despite barely paying a higher rate.
I'd wager that it's because it's hard for me, as an employed person, to fuck up my taxes so badly that the tax authorities would come gunning for me; most of that is handled by my employer's other employees. I just fill out a pretty basic form, and count myself done.
Where as if I were self employed, I'd have to worry about quarterly filings (I think?), and the knowledge that there's absolutely nobody but me who's checking up on things.
Re: A Canadian payroll dependency chart
#30I once made one of these for HMRC's self assessment tax calculation[1], it had about a thousand nodes.
[1] https://assets.publishing.service.gov.uk/media/5dfa35f4e5274...