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MikelArteta

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upload_2020-4-22_9-58-41.png

not that bad (this is at my hospital network)
 

MikelArteta

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also remember you have to pay taxes on that 2k cerb
ish works out to like working full time for 13 a hour
 

MikelArteta

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million dollar man john tory

Mayor John Tory plans to ask council to extend the state of emergency in Toronto due to the coronavirus when councillors meet online next week.

Next Thursday, April 30, will be the first time city council has ever met by video conference. Due to physical distancing rules, councillors cannot gather together in the council chambers.

Tory said the first item on the agenda will be to ask council to support his request for an extension.

“I’ll move a motion that it should be extended for another period of time and council will get to make that decision,” Tory said.

Tory declared a state of emergency on March 23 — the first time the city has done so. The declaration allowed the mayor to make all the decisions that city council can make, but without the need to go to a council vote.

Toronto Public Health is also exploring ways of collecting COVID-19 data based on race and income.

Tory said it is important to know if specific communities in Toronto are being hit harder than others.

“We’re trying to get all the information we can so as to know who fell more victim to this more so than others, try to learn from that, and try to deal with it in the short-term in terms of making sure those people are given the care and support they need, ” he said.

As to when Toronto might be able to ease restrictions, Tory said that won’t be realistic until June at the earliest.
 

MikelArteta

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2000 a month (and you will be taxed for this next year) is only like 14 a hour working part time

Federally, there are five income tax brackets in 2020: zero to $48,535 of income (15 per cent); above $48,535 to $97,069 (20.5 per cent); above $97,069 to $150,473 (26 per cent); above $150,473 to $214,368 (29 per cent); and anything above that is taxed at 33 per cent. Each province also has its own set of provincial tax brackets, meaning that your combined federal/provincial rate could range from a low of 20 per cent (in Ontario) to high of 54 per cent (in Nova Scotia).

Tom, a B.C. resident, worked part-time during the first part of 2020 and was furloughed on March 15. His income for the first ten weeks of 2020 was $2,000 and he will collect $8,000 in CERB. If that was his only 2020 income, he would owe no tax on the CERB payments since his total estimated income of $10,000 is below the basic personal amount federally and in B.C. If he earns more income later this year, he would need to recalculate his tax owing for 2020.

dikk, an Ontario resident, earned $12,000 until March 31, 2020 when he was laid off. He is expected to collect $8,000 in CERB for 2020, bringing his 2020 estimated income to $20,000. If he lived in Ontario, he should set aside 20 per cent or $1,600 of his $8,000 CERB to cover his tax liability for 2020. Again, if he gets re-hired later this year, he may owe a bit more tax on the CERB come next spring.


Finally, Harriet is a self-employed professional in Nova Scotia who earned $50,000 in the first 10 weeks of 2020 until she shut down her practice as a result of COVID-19. She’s optimistic that she will be able reopen her practice this summer and estimates her 2020 income will exceed $250,000. She will need to set aside $4,320 (i.e. 54 per cent) of her $8,000 CERB payments to cover the tax owing next spring.

:francis:
 
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