Why Keep Old Pay Stubs?
Is there any reason for me to keep these things around?
Sep 28th, 2007 10:46 pm
Sep 28th, 2007 11:38 pm
Sep 29th, 2007 12:16 am
Sep 29th, 2007 9:13 am
Sep 29th, 2007 1:09 pm
Strange, my pay stubs from this year don't show any deductions for group health but I do have coverage. Is this normal?brunes wrote: ↑Sep 29th, 2007 9:13 amIf you don't have a group health plan, you really only need to keep your paystubs for the past year so that when you get your T4 you can verify your income and CPP numbers add up correctly.
If you do have a group health plan, those deductions from your cheque are not on your T4, so if you claimed that medical expense (which you should), then you should keep those paystyubs for the 7 years the CRA could go back on you in case of an audit.
EDIT: above also applies if you do a pre-authorized charity donation from your cheque, which some big companies allow as well.
Sep 29th, 2007 1:17 pm
http://www.taxtips.ca/filing/medicalexp ... credit.htm
Sep 29th, 2007 1:40 pm
Yep. The threshold starts becoming lower around 65K.chococrazy wrote: ↑Sep 29th, 2007 1:17 pmhttp://www.taxtips.ca/filing/medicalexp ... credit.htm
"Medical expenses for the taxpayer, the taxpayer's spouse or common-law partner, and dependent children under 18 are claimed on line 330 of the federal tax return. Only expenses in excess of the lesser of $1,925 (federal, for 2007) or 3% of net income can be claimed. "
Sep 29th, 2007 1:46 pm
This sounds weird. Such deductions from your payroll should be itemized.
Sep 29th, 2007 1:59 pm
I see the following things on my ADP stub:
Sep 29th, 2007 2:43 pm
Sep 29th, 2007 2:45 pm
My stubs all show Year-To-Date figures for all of these numbers, and the total 'Less Taxable Benefits' for 2007 is $0.00. I have looked at all from the last 2 months and there's no indications of deductions for health insurance.
Sep 29th, 2007 7:47 pm
what about from last 3 months? any deductions for health Insur?
Sep 29th, 2007 9:13 pm
Every pay stub since the beginning of 2007 shows 0.00 for 'less taxable benefits.' Nothing specifically saying health insurance. And I did not have the group coverage until this year.
Sep 30th, 2007 1:50 am
Sep 30th, 2007 1:58 am