New Job/Salary: What kind of taxes am I going to pay?

[HOOT]

I am curious if there are any income tax calculators that would tell me what kind of taxes I would be paying depending on the amount of money I am going to make at my new job.

So if I am making X amount, investing Y in RRSP, I would pay Z amount in taxes at the end of the year.

Basically I want to make the most amount of money while paying the least amount of taxes

I am in BC so I don't know if that will matter than much...

[Dan02]

you can try this one, i cannot vouch for its accuracy though.

http://www.walterharder.ca/T1.html

[Boblobla]

https://apps.cra-arc.gc.ca/ebci/rhpd...o?lang=English

That will help with the amount of taxes you pay. Not sure about the RRSPs though.

[HOOT]

Originally Posted by Boblobla

https://apps.cra-arc.gc.ca/ebci/rhpd...o?lang=English

That will help with the amount of taxes you pay. Not sure about the RRSPs though.

Thanks that was the page I was looking for but had no luck

[MoneyGuy]

I have a program and if I know your province of residence and your income, I can tell you exactly what your taxes will be. B.C. does matter; higher tax rates there than in Alberta. PM me if you want me to do this for you. So you know, other than making RRSP contributions or creating other deductions (very few options), if you`re a salaried employee there is little you can do to reduce your taxes. You make it, you pay it. Think of it this way: High taxes are a good thing. Also, the total of all of your tax deductions will almost certainly not be the taxes you owe. If you owe them some more money when you file, that`s a good thing. They owe you = bad thing.

[Boblobla]

Originally Posted by HOOT

Thanks that was the page I was looking for but had no luck

I'm a contractor, I have it bookmarked.

[HOOT]

Originally Posted by MoneyGuy

I have a program and if I know your province of residence and your income, I can tell you exactly what your taxes will be. B.C. does matter; higher tax rates there than in Alberta. PM me if you want me to do this for you. So you know, other than making RRSP contributions or creating other deductions (very few options), if you`re a salaried employee there is little you can do to reduce your taxes. You make it, you pay it. Think of it this way: High taxes are a good thing. Also, the total of all of your tax deductions will almost certainly not be the taxes you owe. If you owe them some more money when you file, that`s a good thing. They owe you = bad thing.

Ya I was just trying to figure out how much I should invest in RRSP to reduce the amount of taxes I pay at the end of the year.

What info do you need from me in the PM? Just salary?

[MoneyGuy]

Originally Posted by HOOT

Ya I was just trying to figure out how much I should invest in RRSP to reduce the amount of taxes I pay at the end of the year.

What info do you need from me in the PM? Just salary?

I`ll PM you.

[I-Hate-Hulse]

PwC puts out a great guide every year. Turn to page 8/52:

http://www.pwc.com/ca/eng/ins-sol/pu...ns/tff0608.pdf