My PAY STUB in CANADA // PAYROLL DEDUCTIONS - Income TAX, CPP & EI // Canadian Tax Guide Ch 12

Video Description

How to Read a PAY STUB in CANADA? What are the Biggest TAX CHANGES for 2023? Where does My MONEY Go? What are the PAYROLL DEDUCTIONS from My PAYCHEQUE? How Does CPP Work? What is Employment Insurance? How much is EI? What are TAXABLE BENEFITS? I’ll be breaking down everything you need to know about your PAY STUB in Canada for 2023. These new Tax Changes are already in effect and making a difference in Your Paycheque! I’ll be sharing MY ACTUAL PAY STUBS to explain all the Deductions from your paycheque and to highlight the changes from 2022 to 2023. I’ll be breaking down how all the numbers work like Income Tax, CPP, EI (Employment Insurance), Pensions, Taxable Benefits, Disability and more! It’s so important to understand where YOUR money is going and that’s what this video is for! CANADIAN TAX GUIDE - Playlist 🇨🇦 https://youtube.com/playlist?list=PLj8bU3AuW2qEA_ik7NOAIkBY02nt7KAPj 2023 TAX CHANGES in CANADA 👇 https://youtu.be/Zjfy_G1l5ok QUESTRADE REFERRAL 🇨🇦 If you’d like to sign up for Questrade: my favourite online broker, use my referral link to get $50 of COMMISSION-FREE Trade Rebates for the first 30 days! That’s 10 free trades without any commission, $50 in savings! 👇 https://questrade.sjv.io/CANADIANTSHIRT Best SAVINGS ACCOUNT in 2025 - EQ BANK 🏦 Your emergency fund should be in a High Interest Savings Account and the best one in Canada right now is EQ Bank which offers up to 4% interest with no monthly fees and no minimum balance! Use my referral link below to sign up 👇 https://click.linksynergy.com/fs-bin/click?id=G4zxVqAvD18&offerid=1115263.22&bids=1115263.22&type=1&subid=0 WEALTHSIMPLE TRADE REFERRAL 💰 If you'd like to sign up for WealthSimple Trade, use my referral link below to get a $50 signup bonus in cash when you open an account and trade at least $150 👇 https://wealthsimple.com/invite/P0A-UQ BLOSSOM SOCIAL 🌸🇨🇦 Follow me on Blossom to see my Portfolio & Trades for FREE 👇 https://getblossom.onelink.me/SOfu/adrian Watch my BLOSSOM ANNOUNCEMENT video for details 👇 https://youtu.be/tFYP5kWXsB0 LOYALTY MEMBERSHIP ✨ Click the JOIN button or the link below to gain access to my exclusive content to see my full portfolio and what stocks I’m buying every month! 👇 https://youtube.com/c/CanadianinaTShirt/join Thank you guys for supporting my channel, you’re the best! 🙏 SKIP AHEAD ⏩ -Intro: 0:00 -Pay Stub Basics: 1:53 -My Pay Stub - 2023 Example: 2:35 -Bi-Weekly vs Semi-Monthly 3:53 -Gross Pay: 4:25 -Income Tax: 5:37 -CPP - Canada Pension Plan: 7:01 -Compare 2022 Pay Stub - Lower Taxes: 9:30 -CPP Max - Stop Deductions: 10:46 -Detailed Pay Stub - More Deductions: 11:25 -Employment Insurance: 11:58 -LTD - Long Term Disability: 13:36 -Pension Plan - RPP: 13:53 -Taxable Benefits: 14:54 -Final Thoughts: 16:17 WATCH NEXT ▶️ -How Taxes Work in Canada - https://youtu.be/GShKBkv2xY8 -TFSA Mistakes - https://youtu.be/s4cBibLATOU -Year-End Tax Saving Tips - https://youtu.be/xLXup5L-S2Q -How to File Taxes in Canada - https://youtu.be/4RxkNa2VjtU -RRSP Explained Part 1 - https://youtu.be/bKMNgnMBSdE -How to Build Wealth - https://youtu.be/L10wfYl3_Qs -RRSP Mistakes - https://youtu.be/I8k95_R_L_Q Be sure to subscribe to my channel for more videos on investing, Canadian taxes, personal finance and money saving strategies =) FOLLOW ME HERE: 👋 FACEBOOK: https://www.facebook.com/CanadianTShirt INSTAGRAM: https://www.instagram.com/canadiantshirt TWITTER: https://twitter.com/CanadianShirt FINANCIAL EDUCATION BOOKS 📚 -Wealthy Barber Returns - https://amzn.to/2MJ9cIe -How to Adult Money Canada Version - https://amzn.to/2F717ZT -Beat the Bank: Canadian Guide - https://amzn.to/37uqe54 -101 Tax Secrets for Canadians - https://amzn.to/2RrIuGS -Millionaire Next Door - https://amzn.to/35ap253 -Intelligent Investor - https://amzn.to/3qoI5nV CAMERA GEAR 📸 -4K Camera - https://amzn.to/3aSHWEg -HD Camera - https://amzn.to/3puBZkT -Tripod - https://amzn.to/2Qf2Lid -LED Ring Light - https://amzn.to/2MKLDyC -Microphone - https://amzn.to/3aRdXMN DISCLAIMER: I am NOT your financial advisor! My videos and the topics discussed are my opinions and are presented for entertainment purposes only. This information should not be construed as legal or financial advice. It is always up to YOU to do your own due diligence. It’s YOUR money so make YOUR own decision! I will NEVER ask you to send me money nor will I ever provide my phone number or personal email address. If you see this, that is a fake account and please report any suspicious activity or scam accounts claiming to be me. DISCLAIMER: Links included in this description may contain affiliate links. I will only ever suggest services or products that I use myself and I personally believe in. If you sign up using my affiliate link, I will receive a small referral bonus at no extra cost to you! Thank you for supporting The Canadian in a T-Shirt! =) #CanadianTaxes #CPP #CanadianTaxGuide #PayStub #EI #CRA #RPP #PayrollDeductions