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Sue asked:

How am I suppose to be taxed on my vacation pay?

Peter Proszanski answered:

Thank you for your question. In a nutshell, assuming that an employee’s vacation time is simply added to their employment remuneration, the vacation time is then taxed in the same manner as the gross remuneration.

For future reference, here is a great link from CRA: http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/clcltng/ncmtx/rmnrtn-eng.html.

About the author

Peter Proszanski

Himelfarb Proszanski LLP
480 University Avenue, Suite 1401
Toronto, Ontario, M5G 1V2

tel (416) 599-8080 ext. 222
fax (416) 599-3131

www.himprolaw.com

 
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