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Published byErnest Sims Modified over 9 years ago
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The amount of a person’s income before all deductions.
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The amount of a person’s income after taking into account all deductions. It is also know as “take home pay” as it is the amount of money a person actually recieves.
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An earnings related social insurance program that is a part of Canada’s retirement income system. All employed Canadians 18 and over must contribute to this program.
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Another earnings related social program, this one provides temporary support to those between jobs, or to those who cannot work due to illness, childbirth, or caring for a gravely sick family member.
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An earnings based tax which is paid to the government to fund programs and services within the country and province.
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An income replacement program in the case that a person becomes disabled and unable to perform their job. The employer usually sets up group coverage for this type of insurance, and deducts your portion from your pay.
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A regular payment to members of unions which are used to fund the activities unions engage in.
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Money that is invested for you that comes directly off your paycheque.
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Money in which you have already been paid (in advance of your paycheque).
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The amount of income that was accrued while working hours of overtime.
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