What are all the deductions and taxes that come off a pay cheque?
Well, the biggest deduction is courtesy of the federal government, in the form of income tax. Then there’s EI (Employment Insurance–some of which you might collect back if you’re ever out of work), CPP (Canada Pension Plan–some of which you’ll get back in your senior years), possibly union dues, and charitable deductions. They’ll all take a bite out of your salary.
