• Last Updated:
  • Dec 13th, 2019 2:43 pm
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[OP]
Sr. Member
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Jan 15, 2017
953 posts
497 upvotes

2020 Tax Changes

https://business.financialpost.com/pers ... t-for-2020

Here's one change I'd like to see: stop collecting CPP/EI as a % of pay period earnings. We're not all lobster fishermen. Trust those who've been with the same employer for a while to pay premiums in 26 equal installments. Also, stop collecting more than a year's worth of premiums from anyone earning above YMPE who changes employers (and, since the employer is paying the lion's share of those premiums, maybe refund the over-payment collected from employer #2, rather than just keeping in in general revenues).
3 replies
Deal Addict
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Mar 9, 2012
3462 posts
2112 upvotes
Kitchener
Some employers do give an EI rebate in January, mine is one of those. Historically, we have never had lay-off, so we get about $100 back in January. Something better than nothing.
Why can't we all just get along?
Deal Fanatic
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Nov 13, 2010
7005 posts
1357 upvotes
Scarborough
Is income tax getting reduced?
Thats what i wanna see: a reduction of all those deductions
Deal Addict
Dec 12, 2009
4505 posts
2130 upvotes
Toronto
apnayloags wrote: Is income tax getting reduced?
Thats what i wanna see: a reduction of all those deductions
Better clarify that one.
A reduction of deductions on your paycheque.
An increase in eligible deductions on your tax return.
Following the advice of the Health Experts - I will consider voting for Dougie @ 12:01 AM, five days after the next provincial election.

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