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If receiving EI while on maternity leave in Canada, is tax withheld? If not, how do I know how much to save for taxes?
Not looking for a product-related answer, but an answer to help make sure I set aside enough money.
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October 31, 2019
6:08 AM
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Troubleshooting
If there is tax withheld from maternity pay, it would be very minimal. You should have a look at the federal schedule 1 on the CRA website to which tax bracket you fall into. https://www.canada.ca/content/dam/cra-arc/formspubs/pbg/5000-s1/5000-s1-17e.pdf
October 31, 2019
6:08 AM
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Troubleshooting
Unfortunately, TurboTax does not have a calculator for that.
October 31, 2019
6:08 AM
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Troubleshooting
Ok thanks. What does this mean in line 2: Age amount (if you were born in 1952 or earlier) (use the federal worksheet) (maximum $7,225) 301+ 2
October 31, 2019
6:08 AM
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Troubleshooting
Only pay attention to the tax brackets on the second page of the federal Schedule 1.
October 31, 2019
6:08 AM