Sheldon's Tax Tips #7

Christmas Bonus Naughty & Nice

Sheldon’s Tax Tips #7

The Christmas bonus is always a nice surprise when you are not expecting it. The issue is the CRA needs their piece of your holiday pie. If you received a bonus and your employer did not withhold the tax, this may be frustrating come tax time when you need to pay extra. One way to avoid being caught down the chimney at tax time is to ask your employer to take a little extra off each pay.