Government Services Tax (GST) is 15% and is added to all goods and services. Typically the price you see applied to any item in a store is GST inclusive.

Income tax is deducted prior to you receiving it so while you might make $14.25 an hour, you'll only get something like $12.75 per hour deposited into your bank account. Also to note that our income tax is varied depending on how much you've earned:

  • Your first $14,000 will be taxed at 10.5%
  • From $14,001 to $48,000 you are taxed at 17.5%
  • From $48,001 to $70,000 you are taxed at 30%
  • Any amount earned over $70,000 is taxed at 33%
  • If you don't take the time to figure out your tax rate you will be taxed at 45%

So if your earnings for the year are $105,950 then you will be taxed $1,470 + $5,949.83 + $6,599.70 + $11,863.50 for a total of $25,883.00

NOTE: If you earn $105,950 you are not taxed 33% for the whole amount, only the amount earned over $70,000.

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