new job and tax question

[redman50]

i received a new job in canada halifax. i have been asked to fill the tdc1 forms when i join a new organization the amount declared on the federal is 23100 ans the amouny on the provincial is 16000...now are theae nimbera the amounts i wont be taxed on and will be taxed on any amount over that..also since i will be starting in april will my salary be prorated since i didnt work from jan to end of march ..so say my salary is 45k .please help me.

 

[pie_vancouver]

I don't understand the question, what form is that again? TD1?

 

[redman19]

When u join a new job , you have to fill the federal form and the provincial form , these forms allow the company you are working for deduct the correct tax , so the basic of 11,000 is exempted from tax for federal anything above that is taxed correct?

 

[pie_vancouver]

TD1 the one you signed is the personal tax credit used for calculating the withholding income tax by your employer.
There are 12 numbers in TD1, usually only no. 1 is filled. The higher the total amount the less income tax will be deducted to you.
Computation of withholding income tax for payroll, basically the income times the tax rate (based on the tax table) minus 15% of personal tax credit, cpp/ei cont, etc.
Tax table found here: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/t4032/2017/t4032-bc-17eng.pdf
Tax tip: http://www.taxtips.ca/personaltax/employees/td1forms.htm