Canadians will be paying higher payroll taxes in 2024 because of the mandatory rising Canada Pension Plan and Employment Insurance contributions.

If you earn $73,200 or more, you’ll be paying an extra $347 in payroll taxes in 2024, for a total tax bill of $5,104.

Your employer will also be forced to fork over $5,524 in the new year.

The federal government is imposing a new tax called “CPP2.” The original CPP taxes your income at 6% up to $68,500. The new CPP2 expands that threshold and taxes additional income at 4% up to $73,200.

The carbon tax increases the price of gasoline, diesel and home heating fuels, which is a big deal in our vast, cold country. The carbon tax also makes groceries more expensive, as it increases costs for the farmers who grow our food and the truckers who deliver it.

The carbon tax will cost the average family up to $911 in 2024 even after the rebates, according to the Parliamentary Budget Officer.

Shiit is getting real!

Nothing is free in free town! Directly or indirectly, you will be remitting to the course.

Please get your side hustle game up and running in 2024.

Enculer2:
Canadians will be paying higher payroll taxes in 2024 because of the mandatory rising Canada Pension Plan and Employment Insurance contributions.

If you earn $73,200 or more, you’ll be paying an extra $347 in payroll taxes in 2024, for a total tax bill of $5,104.

Your employer will also be forced to fork over $5,524 in the new year.

The federal government is imposing a new tax called “CPP2.” The original CPP taxes your income at 6% up to $68,500. The new CPP2 expands that threshold and taxes additional income at 4% up to $73,200.

The carbon tax increases the price of gasoline, diesel and home heating fuels, which is a big deal in our vast, cold country. The carbon tax also makes groceries more expensive, as it increases costs for the farmers who grow our food and the truckers who deliver it.

The carbon tax will cost the average family up to $911 in 2024 even after the rebates, according to the Parliamentary Budget Officer.

at bolded , i don’t understand o. 347 is monthly Anything they increase it by we go pay noni

ednut1:
at bolded , i don’t understand o. 347 is monthly Anything they increase it by we go pay noni

In Wike's voice: you go pay

ednut1:
at bolded , i don’t understand o. 347 is monthly Anything they increase it by we go pay noni

Canadians are grossly over taxed and in return receive insufficient services. Taxes are a political tool to keep Canadians struggling and eventually to be come dependent on Government.

Enculer2:


Canadians are grossly over taxed and in return receive insufficient services. Taxes are a political tool to keep Canadians struggling and eventually to be come dependent on Government.

new in Canada but you are already complaining. Taxes were also increased for this 2023 tax year. So why did you still come to Canada.

ednut1:
new in Canada but you are already complaining. Taxes were also increased for this 2023 tax year. So why did you still come to Canada.

It is stating the reality. It is not about complaining. You are the police of Canada to say who comes or who does not.

Typical Nigerian mindset.

Enculer2:


It is stating the reality. It is not about complaining. You are the police of Canada to say who comes or who does not.

Typical Nigerian mindset.

pay your taxes lol. The PR they gave you is not out of charity . Collect the citizenship and move elsewhere like USA, Singapore or UAE 👹.

Just checked my workday to view my tax year to date. About 31% tax
No complaints because
1-they cleared snow as at when due,
2- all the public parks, pools, bike routes i used were functioning.
3- the one or two times i went to the hospital i got quality healthcare.
4- public infrastructures like road, street lights etc were working.
5- Fire service, police , ambulance functioning when called etc.

The major problem in Canada right now is housing, economic growth , interest rate and cost of living. Which many developed countries are facing.

Enculer2:


Canadians are grossly over taxed and in return receive insufficient services. Taxes are a political tool to keep Canadians struggling and eventually to be come dependent on Government.

I am genuinely curious, what services does the Canadian government provide inefficiently to residents and citizens alike?

Gerrard59:


I am genuinely curious, what services does the Canadian government provide inefficiently to residents and citizens alike?

Housing

LooneyLester:


Housing

This is a problem common across almost all Western countries. The Not-In-My-Backyard movement, perception regarding public housing (compared to Singapore), increased population, high-interest rates, seeing property as a life-long asset (compared to Japan), easy policies for foreigners to purchase properties etc. Housing issues are not peculiar to Canada alone.

It is a Western issue.

Gerrard59:


This is a problem common across almost all Western countries. The Not-In-My-Backyard movement, perception regarding public housing (compared to Singapore), increased population, high-interest rates, seeing property as a life-long asset (compared to Japan), easy policies for foreigners to purchase properties etc. Housing issues are not peculiar to Canada alone.

It is a Western issue.

Housing is cheaper in the US than in Canada

CPP that is driving this additional payroll deduction is called the Canada Pension Plan where you and your employer contribute towards your pension. If you work in corporate office in Nigeria, this shouldn't be new to you.

What the government is trying to do now is to make people contribute more money to their pension so as to have more money at retirement, this is why they are increasing the threshold so that people who earn more money contribute more to their pension. Is this a good policy? Well, while there seem to be some sense in protecting and increasing pension, personally, I don't fancy that idea as I need the money now

The only tax that doesn't make sense entirely is the carbon tax. The idea that you can deliberately make fuels more expensive so that people pivot to electric is stupid in my opinion especially as the electric transition is still at an infant stage. Climate change is real, we know but to fight it you need to be realistic but then that is the problem with liberal governments all over the world, they are not realistic as they are fighting climate change in a stupid way that end up increasing the cost of living. Carbon tax is NOT a good way to fight climate change as it increases the cost of living not just fuel

The good thing is that the opposition is hammering on that carbon tax now and it is gaining traction in the country. Canadians are beginning to see that it doesn't make sense. This is why the opposition is leading by double digits in polling currently and are favored to win the next election. The government is already caving in as they have made some exemptions in Atlantic Canada and some provinces will stop collecting the tax from January 1st. So at the end of the day, he will either scrap it entirely or loose the next election. Even if he scraps it now, I think it is too late for the incumbent to win the next election.

The sweet thing is that we have the power as citizens to change our government when they mess up which we will do in the next 18 months unlike in Nigeria where citizens are powerless to change a non performing government even if they wanted to and this is what makes the difference.

As Canadians, we are confident that the challenges we face today will be sorted out in few years time. This is not the first time we have faced some serious problems but it gets addressed either by the incumbent or a change in government and that is the beauty of a working democracy

ednut1:
pay your taxes lol. The PR they gave you is not out of charity . Collect the citizenship and move elsewhere like USA, Singapore or UAE 👹.

Just checked my workday to view my tax year to date. About 31% tax
No complaints because
1-they cleared snow as at when due,
2- all the public parks, pools, bike routes i used were functioning.
3- the one or two times i went to the hospital i got quality healthcare.
4- public infrastructures like road, street lights etc were working.
5- Fire service, police , ambulance functioning when called etc.

The major problem in Canada right now is housing, economic growth , interest rate and cost of living. Which many developed countries are facing.

It started when they challenged his Excellency, Vladimir Vladimirovich Putin

lastkingsman:


It started when they challenged his Excellency, Vladimir Vladimirovich Putin

Iji ya!

Kenn55:
CPP that is driving this additional payroll deduction is called the Canada Pension Plan where you and your employer contribute towards your pension. If you work in corporate office in Nigeria, this shouldn't be new to you.

What the government is trying to do now is to make people contribute more money to their pension so as to have more money at retirement, this is why they are increasing the threshold so that people who earn more money contribute more to their pension. Is this a good policy? Well, while there seem to be some sense in protecting and increasing pension, personally, I don't fancy that idea as I need the money now

The only tax that doesn't make sense entirely is the carbon tax. The idea that you can deliberately make fuels more expensive so that people pivot to electric is stupid in my opinion especially as the electric transition is still at an infant stage. Climate change is real, we know but to fight it you need to be realistic but then that is the problem with liberal governments all over the world, they are not realistic as they are fighting climate change in a stupid way that end up increasing the cost of living. Carbon tax is NOT a good way to fight climate change as it increases the cost of living not just fuel

The good thing is that the opposition is hammering on that carbon tax now and it is gaining traction in the country. Canadians are beginning to see that it doesn't make sense. This is why the opposition is leading by double digits in polling currently and are favored to win the next election. The government is already caving in as they have made some exemptions in Atlantic Canada and some provinces will stop collecting the tax from January 1st. So at the end of the day, he will either scrap it entirely or loose the next election. Even if he scraps it now, I think it is too late for the incumbent to win the next election.

The sweet thing is that we have the power as citizens to change our government when they mess up which we will do in the next 18 months unlike in Nigeria where citizens are powerless to change a non performing government even if they wanted to and this is what makes the difference.

As Canadians, we are confident that the challenges we face today will be sorted out in few years time. This is not the first time we have faced some serious problems but it gets addressed either by the incumbent or a change in government and that is the beauty of a working democracy

2025 even immigrants that benefited from Trudeau say they are sending him and his party packing hahahaha

lastkingsman:


It started when they challenged his Excellency, Vladimir Vladimirovich Putin

It is not Putin. Putin's influence resonates more in Europe than North America. Canada has a lot of things Russia has that Europe doesn't have.
It is the mismanagement of the pandemic. During the pandemic, they threw a lot of money into the system when people were on lockdown. After the pandemic, there was too much money and less goods and services.

If you remember basic economics, it states that when too much money are chasing few goods and services, inflation occurs. This is what happened after the pandemic and central bank had to use monetary policy of hiking interest rate to kill demand and slow the economy. In summary, it is using monetary policy to fix the fiscal mess created by the government and unfortunately people are paying for it

I know they won't throw money again if the pandemic happens again. I hope they have learnt their lessons.

ednut1:
2025 even immigrants that benefited from Trudeau say they are sending him and his party packing hahahaha

He is messing up. I can forgive him for the mismanagement of the pandemic after all almost every western country made the same mistake. Nobody up till that point has managed a global pandemic of that magnitude. Even China economy hasn't recovered from the effect of that pandemic.

I'm voting against him mainly cos of the carbon tax he has so far refused to rescind across board. We can't fight climate change with tax and spend policy, it should rather be technology driven. He is becoming too ideologically stiff without applying common sense.

Kenn55:


He is messing up. I can forgive him for the mismanagement of the pandemic after all almost every western country made the same mistake. Nobody up till that point has managed a global pandemic of that magnitude. Even China economy hasn't recovered from the effect of that pandemic.

I'm voting against him mainly cos of the carbon tax he has so far refused to rescind across board. We can't fight climate change with tax and spend policy, it should rather be technology driven. He is becoming too ideologically stiff without applying common sense.

You know he's just a figure head, nothing more, right?

Kenn55:


It is not Putin. Putin's influence resonates more in Europe than North America. Canada has a lot of things Russia has that Europe doesn't have.
It is the mismanagement of the pandemic. During the pandemic, they threw a lot of money into the system when people were on lockdown. After the pandemic, there was too much money and less goods and services.

If you remember basic economics, it states that when too much money are chasing few goods and services, inflation occurs. This is what happened after the pandemic and central bank had to use monetary policy of hiking interest rate to kill demand and slow the economy. In summary, it is using monetary policy to fix the fiscal mess created by the government and unfortunately people are paying for it

I know they won't throw money again if the pandemic happens again. I hope they have learnt their lessons.

Solid point. It's the combination of the two actually. Some are arguing that if energy price was low for 2-3 yrs after the pandemic, western economies would have recovered naturally but high energy prices aggravated it. It's a demand and supply thing and Putin influenced the supply side

LooneyLester:


Housing is cheaper in the US than in Canada

Because the US is larger in land mass than Canada and has more habitable areas.

Simple geography.