Paystubs
What does 'Net Pay' mean?
The pay you get after taxes.
Is every working person in Canada allowed to take a vacation?
Yes, after working AT THE SAME PLACE for 1 year.
Is the dentist free in Canada?
No.
What does 'CPP' mean?
Canadian Pension Plan.
Do you have to do your own taxes?
No, you can hire an accountant.
What does 'Gross Pay' mean?
How many vacation days are you allowed to take in Canada?
10 days.
Do you have to pay into health benefits at work?
No, you don't. It is a choice.
What does 'RRSP' mean?
Registered Retirement Savings Plan.
If you work, who gives you your T4?
Your employer.
What does 'Deductions' mean?
The money taken off your paycheque.
How many vacation days do you get after working in Canada for 5 years at the SAME JOB?
Can you use personal health insurance and health insurance from work at the same time?
Yes.
Does every employer have to take CPP off your paycheque?
Yes.
If you don't work, who gives you your T5007?
Social Services.
What is deducted from your paycheque?
Canadian Pension Plan, Provincial Tax, Federal Tax, Health Benefits, Vacation and RRSPs.
41 hours and more.
If you work part-time or full-time in Canada, does your employer give you benefits?
Yes, they should. Some companies might not.
Do you have to invest (put money) into an RRSP?
No, but you should.
If you don't file taxes in Canada, is it illegal?
Yes. You will have to pay 5% of your unpaid taxes and 1% of your unpaid taxes each month it is late.
What percentage of taxes is taken off each paycheque?
11%
How much do you get paid when you work overtime?
1.5 hours.
For example, $20/2= $10.
$10 + $20 = $30.
Are health benefits unlimited?
No, there is a limit.
Is your RRSP taxed if you take it out before you are 65?
Yes.
If you file taxes, can you get money back from the government?
Yes!