Parental Leave and Taxes

[Patrolman]

Question to those who have taken parental/maternal leave. I have been on Parental Leave since last November and am planning to back to work May 1st. My question is this. When you filed income tax the following year were your taxes affected in a negative manner? I normally get back around 2500 dollars each year. I have RRSP's and charitable donations so hopefully that will help off set anything I have to pay back. So to those who have experience in this area any input you may be able to give me would be greatly appreciated. Thanks1

 

[monika]

I used to do tax returns and the  effects on a tax return is that you will obviously have less income than when you worked full time, and more importantly will have had less tax deducted(generally 10%). It is impossible to say how much money you will or won't get back because there are always so many variables.

If you really want a good idea do a tax return with the numbers you have and see how it works out.

 

[AirForceWife]

When my husband took parental leave, the following tax year we got $1300 less than what we usually get.  EI doesnt take out enough taxes, as its all one tax rate.