ForumCategory: TaxSalary raise
Anonymous asked 6 years ago

If I got a mid year salary raise, will I have to pay more taxes at the end of the year?
Thank you

1 Answers
Elena Furier Staff answered 6 years ago

All things being equal, you will end up paying more tax, especially if you move to a higher income bracket. In Canada, we have a progressive tax system, where tax rate increases as the taxable amount increases.
However, there may be tax deductions and credits that you can claim to reduce your tax payable or increase your refund.