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Typical tax return amount?

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  • Typical tax return amount?


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Answer #1 | 29/11 2013 15:40
Knowing the gross income is important to something like this, but it's only one piece of a very big puzzle. When you work throughout the year, your employer withholds amounts for CPP, EI and Income tax. Later, when you do your tax return, if you get a refund it means that the one or more of the amounts withheld was too high. At $17,000 in Ontario, the person should have paid about $1,200 in income tax. If he paid more, he'll get a refund of the excess. If he paid less, he has to pay the remainder by April 30th, 2014.
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