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What percentage of my paycheck gets taken for taxes?

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  • What percentage of my paycheck gets taken for taxes?


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Answer #1 | 13/12 2013 16:51
At that level of income you would pay zero for income tax. If anything is deducted throughout the year, you would get it back as a refund when you file your income tax return. If this is employment income, you would have to pay EI and CPP premiums. EI starts with the first dollar of your income at a rate of 1.98 percent. You wouldn't get this back. CPP Premiums are 4.95% of income, but this is not payable on the first $3,500 of income. Again, if too much has been deducted, you would get this back as part of your income tax refund.

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