So my last cheque my company shorted me 20hrs and told me they would just add it onto my next one. Just curious if ill loose a bunch more to taxes since it'll put me into the next tax bracket or does it make any difference at the end of the year?
So my last cheque my company shorted me 20hrs and told me they would just add it onto my next one. Just curious if ill loose a bunch more to taxes since it'll put me into the next tax bracket or does it make any difference at the end of the year?
You will lose money on he next cheque for more taxes but end of year you will overpay and will likely get that back
Yeah you'll likely be taxed a bit more but you'll get it back when you do your taxes next year
.....Originally posted by pyro
So my last cheque my company shorted me 20hrs and told me they would just add it onto my next one. Just curious if ill loose a bunch more to taxes since it'll put me into the next tax bracket or does it make any difference at the end of the year?
Last edited by HO2S; 05-11-2013 at 10:01 PM.
If the payroll people are halfway intelligent they can do the math tax-wise so you dont end up having to wait til next year for the rebate..
dv/dt
Makes no difference comes tax time as mentioned. I overheard someone once saying not to work too much overtime in a week, as it's useless cause you get bumped into the next tax bracket. Which is completely false, tax brackets are based upon yearly income, not payday income. The reason why you get taxed at a higher % on your payday if you have extra hours, is because they assume you will be making that amount every payday for the entire year, and if you did your annual income would be in that of the next bracket.
Okay, I am one of those people who does payroll for our small company and I have to ask what you know of the process? Intelligence (or lack thereof) has nothing to do with it - the tables and rules are set by Revenue Canada.Originally posted by ZiG-87
If the payroll people are halfway intelligent they can do the math tax-wise so you dont end up having to wait til next year for the rebate..
If I was the magician you think payroll people should be, then I sure as hell would be successfully rolling the dice on Lotto 6-49 as opposed to trying to figure out how to balance one pay period's tax load against possible less (or none) future earnings by yourself.
Will fuck off, again.
This is actually illegal (depending on your pay period). A company has 10 consecutive days to pay you from the end of a pay period. I would be quite pissed that they shorted me 20 hours, seems very bullshitty.Originally posted by pyro
So my last cheque my company shorted me 20hrs and told me they would just add it onto my next one. Just curious if ill loose a bunch more to taxes since it'll put me into the next tax bracket or does it make any difference at the end of the year?
The 10 day period only applies to known earnings - sometimes mistakes are made by either the employee or the employer and this would fall outside of the 10 day window. Now I would suggest to the OP if they're being shorted on a regular basis and having it corrected on following pay periods, then that needs to be looked into. Please also note that the 10 day rules only applies to those employees who are covered by the Alberta Employment Standards - there are even looser rules for those employees covered by the Canada Labour Code, people need to know which set of rules their workplace is governed by.Originally posted by HiTempguy1
This is actually illegal (depending on your pay period). A company has 10 consecutive days to pay you from the end of a pay period. I would be quite pissed that they shorted me 20 hours, seems very bullshitty.
Last edited by speedog; 05-12-2013 at 08:53 AM.
Will fuck off, again.
Hmm, does being salary have anything to do with it? I'm not really sure HOW they do it, and I suppose I shouldn't discount the possibility that they are doing something they shouldn't, I just know that in the end it somehow works itself out..Originally posted by speedog
Okay, I am one of those people who does payroll for our small company and I have to ask what you know of the process? Intelligence (or lack thereof) has nothing to do with it - the tables and rules are set by Revenue Canada.
If I was the magician you think payroll people should be, then I sure as hell would be successfully rolling the dice on Lotto 6-49 as opposed to trying to figure out how to balance one pay period's tax load against possible less (or none) future earnings by yourself.
Nope, monies earned whether salaried or a wage slave are all the same to Revenue Canada.Originally posted by ZiG-87
Hmm, does being salary have anything to do with it? I'm not really sure HOW they do it, and I suppose I shouldn't discount the possibility that they are doing something they shouldn't, I just know that in the end it somehow works itself out..
Will fuck off, again.
Thanks for the responses
Yeah I was a bit pissed but mistakes happen as long as it doesn't happen all the time.