On July 24, 2014, the Ontario government passed into law increases to personal income tax rates for Ontario employees who earn more than $150,000 in 2014. These changes come into effect September 1st, 2014. However, the CRA will allow employers to implement the new changes on a “best-effort where practical” basis, and is not going to penalize anyone for failing to withhold the correct taxes. The CRA suggests employers discuss these changes with their affected employees and employees can ask their employer to increase their withholdings to address the possible shortfall.
Notice of Tax Changes to Ontario Employees who Earn More than $150,000
By admin|2014-08-28T17:23:58+00:00August 28th, 2014|Uncategorized|Comments Off on Notice of Tax Changes to Ontario Employees who Earn More than $150,000