Are my earnings taxable? What are the TD1 forms?
All income you earn is taxable. If you are a new employee to Brock you will need to complete a Provincial and a Federal Personal Tax Credits (TD1) form when you sign your contract. These forms determine your total personal claim amount, in other words they determine the amount of tax that will be deducted from each pay cheque. The higher your claim amount, the less tax is deducted from your pay. If you do not complete the forms, Brock will deduct taxes after allowing the basic personal amount only.
If you do not want Brock to deduct tax from pay, your annual income must be less than your total claim amount, and you must check the box on the back of each form indicating you do not want taxes to be deducted. You do not have to complete new forms each year unless you wish to make a change.
For more information, or if you have questions regarding the TD1 forms, please contact the Experience Works Coordinator.
Last update: 2007-03-14 16:58