Taxes... need to understand... canadians

[SpiralDragon]

ok...

i am having a realy hard time geting the gist of the mater....

how are taxes payed... what kinds of taxes are there... how mutch do i pay on a personal level... on my income.... what if i do work as a freelancer.... what if i start my own small business.. WTF are tax returns..... and how the F*** does one deal with all this info at the same time


please someone explain it to me in the simplist way posible.

[Brian Ellis]

Simplest way (valid for all countries): you pay!

[Sasq]

The Canadian Taxation office should have some information packs explaining the whole process.

You can probably get a copy from the Embasy.

[lowlifecat]

SD> you prolly wont have to deal with taxes till you've been atleast 1 year in canada.

[SpiralDragon]

... yeh but you know me.... i better than you are in finacial affairs just add a (-) to my benchmark ....

[TransformX]

SD, it's quite simple:
You pay less than anywhere in the ME (warzones take extra taxes for 'security' budget) and you receive quite a bit more than anywhere in the ME (young countries mean the pockets of the corrupted on top are still empty).

[SpiralDragon]

heh... i wasnt under the imprestion that here in leb we get anything.... ... its all take, take, take.. by the finance ministry.... nothing ever comes back though

[az]

TX, I don't think that first statement is necessarily true. I assume canada has quite an extensive social system (like we do), and those cost A LOT. We have really high taxes here (of course, they're not as high as everybody here says - especially if you're rich or a corporation )

AZ

[Sasq]

Well there are only two certain things in life...
Death and Taxes

[SpiralDragon]

ROFL

[TransformX]

And death is taxed as well

[Sasq]

That depends on the country. In Oz, no death tax, here on the other hand...

[Brian R.]

I have heard in Tokyo, you have to rent your plot in the Cemetary.

[Tjalfe]

Re: Taxes... need to understand... canadians

Originally posted by SpiralDragon
ok...

i am having a realy hard time geting the gist of the mater....

how are taxes payed... what kinds of taxes are there... how mutch do i pay on a personal level... on my income.... what if i do work as a freelancer.... what if i start my own small business.. WTF are tax returns..... and how the F*** does one deal with all this info at the same time


please someone explain it to me in the simplist way posible.

usually your employer will decuct taxes from your pay automatically, then at the end of the tax year ( end of feburary) you have to file your tax return, which may or may not result in a refund of some of the taxes you have paid in the previous year.

http://www.ccra-adrc.gc.ca/tax/business/tod/

download the tables on disk program and play around with different incomes and check how bad the taxation is.

for self employed I assume you have to pay the taxes yourself every so often, but since I am not such myself, I cannot tell you details. GT40 I think is, so he should know

As for sales tax.. they vary from province to province, but here in ontario you pay 7% GST ( General Sales Tax) and 8% PST ( Provincial Sales Tax) which is added on top of all the retail prices you see listed ( with the exception of some food items, which are not charged the one tax)

... Hope this helps.

Kasper

[Dilitante1]

Originally posted by Brian R.
I have heard in Tokyo, you have to rent your plot in the Cemetary.

So if you get behind do you get reposessed? or evicted?