Ugh is all I have to say. After paying off over $20K of my CRA debt, I thought I’d never owe them again. Wrong! When I switched over to my boss’ private company, the incompetent business manager deducted the wrong amount for federal and provincial taxes for about 10 bi-weekly pay cheques before he noticed. He never gave me a pay stub which my friend pointed out that I am entitled to my pay stub for every pay cheque.
I calculated how much I’d have to contribute to RRSPs to offset the amount owing. Turns out I left out one entire monthly pay cheque from my old position and when I entered my numbers into the tax program, it said I owed $815. Ahh!!!!I know it’s not entirely the business manager’s fault. I should have known never to rely on people for everything but I assumed he’d get it right since it is part of his job. But it’s also my job to be aware of everything that is going on. I’ve double checked my pay cheque for this year’s tax calculations and he is deducting the correct amount from my pay cheques.
I’m not going to file my taxes until this amount owing is paid off. I don’t want it to show up on my notice of assessment because I need to renew my mortgage in the summer. This amount isn’t the biggest in the world but it’s a little discouraging considering I had just paid off the amount owing to the CRA. Oh well, another lesson learned!