| ||||||||||||
 | ||||||||||||
| ||||||||||||
| ||||||||||||
 |  |
|
| ||||||||||||||||||||||||||||
|
Payroll Withholding Tax Reduction
If you’re an employee and you expect to get a large tax refund because you’ll have substantial deductions to claim, you may be able to get your hands on some of that money sooner by arranging for your employer to reduce the amount of tax withheld from your pay cheque. You can ask CRA to give your employer permission to withhold less tax if you’re planning to make a large charitable or RRSP contribution, if you make tax-deductible alimony or child support payments or if you have business losses to report. To get CRA's okay, you also must have filed tax returns and paid any taxes you owed for all previous years. The waiver is good for one year only. If you want your employer to reduce the amount withheld next year as well, you’ll have to apply again.
|
|
