Quote:
Originally Posted by MoneyGuy
Damn you thread resurrectors. I thought this was a new thread, not noticing the date.
It always amazes me that people will get upset when they see the tax hit on a lump-sum payout but not care too much about the taxes they pay all year long on that income.
I'm dealing with a client now who is in the highest bracket in Alberta and will be getting a bonus of approx $50,000. When I tell him his tax hit will be $19,500 he freaks. He wants me to flip it directly into his RRSP to save the taxes. Well, he's paying the same amount of taxes on some of his other income and doesn't seem to care much about that.
Odd that.
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Try reasoning with someone about the OAS clawback! Sure its a clawback, but you didn't make contributions at all...it was nevee really your money!