Canada Revenue Agency: Big Changes Coming in Your Paycheck in 2021
This year was not something anyone expected. The new year brings new hopes and new uncertainties. While no one can say what 2021 has in store, one thing the Canada Revenue Agency (CRA) has clarified is the changes coming in your paycheck. The CRA can’t determine your paycheck, but it can determine the deductions on your paycheck.
The CRA requires your employer to deduct three things from your taxable salary: an employee’s contribution towards the Canada Pension Plan (CPP), Employment Insurance (EI) premiums, and income tax.
Original Article Source Credits: The Motley Fool , https://www.fool.ca/
Article Written By: Puja Tayal
Original Article Posted on: December 28, 2020
Link to Original Article: https://www.fool.ca/2020/12/28/canada-revenue-agency-big-changes-coming-in-your-paycheck-in-2021/