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Props to the author. At this point, CRA should just post a reference implementation of all the formulas, so that small businesses can benefit from it.
It’s not a downloadable sheet , looks like, but it’s something.
Are there any countries with good, reasonable tax systems? I'm only familiar with Canada and the USA, both of which are a bit of a mess, though seemingly in different ways. I'd be very interested in hearing what the process is like in other places.
The EU has VAT (value added tax) which is added to each purchase. At the end of the year, there is nothing to report and nothing to pay. It doesn't get much simpler than this.
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Quebec is essentially a different country altogether - there are a legion of strange HR rules and requirements that are entirely specific to QC.
Yes, and heavily subsidized by other parts of Canada via transfer payments.
Last time I looked at Canadian payroll services, many were very affordable. Why bother spending the time on this ?
I extend this question to all the people who have posted their own graphs of other similar things.
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> 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 t…
There may be other tradeoffs, but there may also be other advantages. the original point of just being aware of both sides of the coin is a big part of it, most people don't look at the deductions on their paycheck. hell, a significant number of people think their entire tax bill is just what they have to pay in April
It'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.
I want something similar for my mortgage calculation. For example I cannot get my bank (TD Canada) to inform me of how much each payment goes towards my principal. I'm pretty sure I've calculated it properly, however the number is often in the 10's of dollars off from what the bank reports my outstanding balance is after a payment is made. Also don't get me started that I can't use an api to get my account details an…
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>I’m not sure why I’m obligated to be bound by laws that I had as much to do with the passage with as the tax rules in Georgian era England because one, it's impossible to completely rewrite the system every generation. there's always going to be someone who wasn't born when the set of laws in place were made and two, there's nothing about a law being old that means it can't be changed. if enough people feel the same…
Defaults matter and inertia is real. There’s no way to repeal amendments today in practice. It seems ridiculous to me that we can change the whole administration every generation but we can’t replace the laws while we’re at it? Are dead men somehow wiser than we the living that the laws apply to? Every law under a representative system should have a default expiration date no later than an average human lifespan.
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Can you provide an example of the US corporate tax code contradicting itself? Ambiguity is one thing, but I've never heard anybody claim that there's an actual formal contradiction in the tax code itself.
Aren't most the contradictions forms of ambiguity? Two overlapping scenarios where some sort of administrative ruling is needed to clarify which dominates. Does that count as contradiction? https://www.irs.gov/irb is full of this kind of stuff.
(Maybe this distinction is silly, but I think it's important: ambiguity is inevitable, but asserting that the IRS knowingly maintains contradictory rules suggests some kind of sovereign-citizen-adjacent thinking.)