Using a flat tax percentage

If you'd rather keep it simple, or your employer takes a set percentage, Paycheq can take a flat share of your gross pay as tax instead of using CRA's formulas.

Turning it on

1. Open the Jobs tab and tap your job.

2. Under Rules, set Tax to Flat percentage.

3. Enter the Tax rate, such as 20%.

4. Tap Save.

You can also choose it during setup.

What it leaves out

A flat percentage takes only that share of your gross as tax. It doesn't take CPP or EI, and the TD1 claims, CPP and EI exemptions and Earlier this year settings are hidden.

When to use it

• You're paid as a contractor and set money aside for tax yourself.

• Your work is in Quebec, which Paycheq doesn't support yet.

• You want a rough figure and don't mind it being less exact.

For most employees, Canadian payroll tax is closer to your real cheque.

Good to know

• Union dues and other deductions still come off.

• To switch back, set Tax to Canadian payroll tax and choose your Province for tax.

• Estimates only. Not legal or tax advice.