Income Tax on 90K

[hardworkpays]

Hi Guys,

can anyone suggest how much would be the tax on a 90K CAD salary(in Alberta) for a family with 1 Kid.

I want to know how much amount one would get as a net salary?

 

[letstry21]

65-70k...

https: // simpletax.ca / calculator (remove space)

 

[hardworkpays]

65-70k...

https: // simpletax.ca / calculator (remove space)

Any tax relief based on number of dependants?

 

[Dr_Midnite]

Hi

There are a number of on-line tax calculators that will provide you an indication of net income.
See link below.

http://www.finance.alberta.ca/calc-script/tax_calc.html

Thx

A

 

[hardworkpays]

Hi

There are a number of on-line tax calculators that will provide you an indication of net income.
See link below.

http://www.finance.alberta.ca/calc-script/tax_calc.html

Thx

Thanks this is where i am getting confused.....
this website does consider a difference in total tax based on the child and family status.
however, all the other websites, doesn't take this into consideration..

Also, i noted that the total tax is varying from website to website with considerable difference....
e.g. - for www.finance.alberta.ca/calc-script/tax_calc.html website....90K(considerting 10K as RRSP) will ask for a tax of maximum 18K....
however for simpletax.com 90K will ask for a tax of around 22K......

so, I am very much confused...which one is more accurate......

 

[canadacec123]

You should contact a accountant. It would not cost you much like $25-$50 in Ontario. May be same in the Alberta.

 

[scylla]

Thanks this is where i am getting confused.....
this website does consider a difference in total tax based on the child and family status.
however, all the other websites, doesn't take this into consideration..

Also, i noted that the total tax is varying from website to website with considerable difference....
e.g. - for www.finance.alberta.ca/calc-script/tax_calc.html website....90K(considerting 10K as RRSP) will ask for a tax of maximum 18K....
however for simpletax.com 90K will ask for a tax of around 22K......

so, I am very much confused...which one is more accurate......

Your question is not that simple. Each one of these scenarios is accurate - it all depend on what you can claim. If you put money away in an RRSP (retirement) account, this will reduce the amount of tax you have to pay. However keep in mind that these are retirement funds and you won't be able to withdraw them without a penalty once you have contributed them. So not everyone contributes to their RRSP each year and those who do contribute put in many different amounts. So it's impossible to have a standard when it comes to RRSPs and taxes. It depend on what you decide to contribute.

 

[hondaFan13]

Posting income tax questions in an immigration forum. Consult the tax forums.

 

[ZingyDNA]

Well it's common that immigrants are interested in the tax rate in Canada. The topic should belong to "Settlement Issues", not CEC forum, though.

Posting income tax questions in an immigration forum. Consult the tax forums.

 

[Dr_Midnite]

Hi

Agreed this is not really for the CEC forum but we don’t need to argue which one.

Any calculator is designed only to be a guide; overall tax payments will be subjective to a point and will depend on RRSP contributions, taxable benefits etc.

The actual number can only be determined at the end of the year when you file your T4 and other documents to the company who pull your taxes together.

Calculators are good for plugging in your earnings and getting a feel for where your basic tax rates will fall out. You can then customize them a little for RRSP, other taxable benefits etc but they will never give you the definitive answer.

For most people a rough guideline will suffice, I don’t understand the urgency to nail this down to the last dollar, to be honest that will not be possible until all your annual tax information is complete.

However, as highlighted this is not for the CEC forum.

Thx

A