View Full Version : Personal tax exemption
redbeast
11-18-2008, 10:16 PM
Does anyone know what the personal tax exemption is per year?
I remember it being $7-8k/yr.
Thanks
yohan4ws
11-18-2008, 11:26 PM
If you earn less than ~ $8k, you don't pay any tax.
sabad66
11-19-2008, 01:11 AM
Um i'm pretty sure its closer to 10k that is tax free. Just look at the top of your pay stub and it shoudl say. I can't look at mine cuz i gave them a form that makes it higher cuz i'm a student, but u can look at yours probably.
Tik-Tok
11-19-2008, 01:45 AM
2008 Tax year
Federal - $9600
Alberta - $16,161
redbeast
11-19-2008, 09:49 AM
So the difference between the federal and Alberta is quite the difference. My wife is a student and she works part time so most likely she is below the tax exemption.
So do I go by the federal or alberta tax exemption. Sorry I'm not familiar with this!
Thanks for all the input.
rc2002
11-19-2008, 10:00 AM
Federal tax you go by the federal exemption
Provincial tax you go by the provincial exemption
So if you make less than 9600 you don't pay any. If you make less than 16,161 then you only pay federal on the difference between 16,161 and 9600. If you make more than 16,161 then you pay both.
Mark_Nguyen
11-19-2008, 10:28 AM
Originally posted by Tik-Tok
2008 Tax year
Federal - $9600
Alberta - $16,161
This is the correct numbers
Tik-Tok
11-19-2008, 10:34 AM
edited
(don't Beyond before your first cup of coffee in the morning)
redbeast
11-19-2008, 01:34 PM
Thank you all.
WWJAI
11-19-2008, 08:41 PM
It's great to live in Alberta because of taxes. We have the largest provincial personal tax credit. Every other province has a personal tax credit under $10G other than the territories.
Tik-Tok
11-19-2008, 09:26 PM
Originally posted by WWJAI
It's great to live in Alberta because of taxes. We have the largest provincial personal tax credit. Every other province has a personal tax credit under $10G other than the territories.
Saskatchewan is at $13,000
blownz
11-20-2008, 12:16 PM
^ I believe that is for 2009 though, 2008 is still something like 9k.
And actually if you make between 16k and 30ish k you are better off in several provinces besides Alberta because their provincial taxes start off around 6% (BC and ON). The more you make the better it is to be in AB though.
Tik-Tok
11-20-2008, 03:02 PM
Originally posted by blownz
^ I believe that is for 2009 though, 2008 is still something like 9k.
2007- $8,778
2008- $12,945
2009- $13,269
DJ_NAV
11-20-2008, 03:05 PM
HOLLYYY CRAP!!!!>>> Black Thursday???
blownz
11-20-2008, 03:51 PM
Originally posted by Tik-Tok
2007- $8,778
2008- $12,945
2009- $13,269
Well 08 definitely started lower then that so they must have back dated it. I admit I never really paid attention to it.
yohan4ws
12-15-2008, 09:17 PM
Here's a great PDF for future reference from an Ernst and Young website:
http://www.ey.com/Global/assets.nsf/Canada/2008TaxRateCard_Alberta/$file/Alberta.pdf
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