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Question

I just started cpp in 2022. Can I calculate my tax and deductions before year end?

Forum|Forum|3 years ago
October 27, 2022
1 reply
0 views

No text available

You can go to the CRA website at the following link and enter your figures/amounts and get an estimate.

Thank you for choosing TurboTax.

Thanks for the reply. The link is for deducting contributions to CPP. I just turned 65 so I'm not contributing anymore. I want to estimate the tax I will have to pay on the CPP payments I received in 22. It's my only taxable income and only a few hundred dollars. I know I already spent more than 3% of my taxable income so I would like to know how much I can write off. When I was asked if I wanted to start receiving CPP this year I seem to recall they told me the tax rate was quite high like 50%?