Author: Darrel Pratt

The bottom 20 per cent of families that earn less than $56,516 pay just 0.8 per cent of income taxes and 2.1 per cent of total taxes. The middle 60 per cent of income earners, making between $56,517 and $227,486, pay 37.8 per cent of Canada’s total income taxes, and 45 per cent of the […]

In Canada, credit scores start at 300 and go as high as 900. A bad credit score is a score of 574 or less and means banks, lenders, landlords, and even some employers will consider you less financially responsible than borrowers with a higher score. Can I get approved with a 574 credit score? A […]

Province with the Highest Taxes Newfoundland and Labrador. Nova Scotia. Prince Edward Island. New Brunswick. Which province pays the most taxes Canada? QuebecIncome tax rates in Quebec are higher than in other provinces and territories because the government of Quebec finances a wide variety of services that other governments do not. You can use the […]

Taxing Canadian-source income. As a non-resident of Canada, you are subject to Canadian income tax on most Canadian-source income paid or credited to you during the year unless all or part of it is exempt under a tax treaty. How is non-resident tax calculated in Canada? Non-residents are taxed at the current federal tax rates, […]

If you make $500,000 a year living in the region of Ontario, Canada, you will be taxed $235,044. That means that your net pay will be $264,956 per year, or $22,080 per month. Your average tax rate is 47.0% and your marginal tax rate is 53.5%. How much taxes do you pay on 500k? If […]

Interestingly, New York State and California tax their residents at rates that are higher than any Canadian province except Quebec. Are taxes higher in Ontario or California? While Ontario’s top combined federal/provincial marginal rate is high at 53.53 per cent, California’s combined tax rate comes close, at 52.65 per cent, consisting of a 37 per […]

A job offer is valid if your current or future employer: has made a written offer to give you a full-time, non-seasonal job for one year or more if you are accepted as a permanent resident and. has a positive Labour Market Impact Assessment (LMIA) from Employment and Social Development Canada (or the job is […]

Average Cost of Food Per Family in Canada For example, a family of four, including two parents, a teenage son, and a younger daughter, spends around $13,907.25 on groceries per year, or $1,158 per month. How much does a family of 4 spend on groceries in Canada? Families in Canada spent an average of $936.40 […]

How many bi-weekly pay periods in a year? Employees typically receive 26 paycheques per year with a biweekly pay schedule. Depending on the calendar year, there are sometimes 27 pay periods, which can increase payroll costs. Both hourly and salaried employees may receive biweekly pay. How often is salary paid in Canada? Paydays are every […]

Government of Canada employees are paid in arrears. This means that you are paid for your work during your first 2 week pay period, 2 weeks following, at the end of the second 2 week pay period. How do 2 week pay periods work? Biweekly pay describes when employees are paid every other week on […]