Yay it's payday, but OF COURSE they ignore the fact that I checked the "DO NOT DEDUCT TAXES" box on that form, and so I only got about two thirds of the amount I was expecting.
Now I don't have any more of a problem with income taxes than the next guy, but it PISSES ME OFF that you have to pay the government their taxes IN ADVANCE via. payroll deductions. And what REALLY PISSES ME OFF is the totally flawed method of calculating those deductions when applied to co-op students.
Here's what I mean: Employer's are required by the Income Tax Act to withhold employees' salary according to the T4032 Payroll Deductions Tables. You look up your bi-weekly salary in the table, and it tells you how much to withhold. But taxes are assesed on your total annual income, and to estimate this the tables multiply your bi-weekly salary by 26. They assume that you will be working all year at this rate of pay. This is not a valid assumption for pretty much everyone in my age group, and is never true for co-op / quasi co-op students like myself! If you work for two terms in a particular year, they are over-estimating your annual income by 50%, and if you only work one term in that year, the tables over-estimate it by 200%
What a fucking rip off !!!!!!!!!!!!!!!!!!!!!!! (Count those exclamation marks, Matt!)
2:17:08 PM 
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