Employers are required to follow income tax tables to ensure that they withhold and remit the correct amount of tax to the government for salary and bonuses paid to employees. Photo by Getty Images

Q. I am 45 years old and earning $100,000 and $120,000, both on salary, from two jobs in Canada. Both my employers are deducting 35 per cent for taxes. Even after that, will I owe an additional amount to the Canada Revenue Agency (CRA) ? Since I am doing two jobs is my Canada Pension Plan (CPP) and Employment Insurance (EI) credited twice? What will be the impact on my taxes and in retirement because of this? —Thanks, Lexi

FP Answers: The tax payable for income in the $110,000 to $120,000 range would normally be in the 20 per cent to 30 per cent range, Lexi, depending on where you l

See Full Page