distressedpremed Posted February 2, 2018 Report Share Posted February 2, 2018 Hey guys, Sorry if I'm asking a dumb question - for any residents in alberta, do you know what your after-tax salary is bi-weekly for PGY-2? In addition, how long do tax credits generally run for...someone said PGY-1 to PGY-2 and then it stops in PGY-3, but I'm not too sure. I'm just trying to budget my rent for next year. I'm worried/not sure if my tax credits will run out during PGY-1. Thanks y'all Link to comment Share on other sites More sharing options...
la marzocco Posted February 2, 2018 Report Share Posted February 2, 2018 30 minutes ago, distressedpremed said: Hey guys, Sorry if I'm asking a dumb question - for any residents in alberta, do you know what your after-tax salary is bi-weekly for PGY-2? In addition, how long do tax credits generally run for...someone said PGY-1 to PGY-2 and then it stops in PGY-3, but I'm not too sure. I'm just trying to budget my rent for next year. I'm worried/not sure if my tax credits will run out during PGY-1. Thanks y'all https://cl.ly/420k02201f0L Looks like gross PGY-2 salary in Alberta is about $61,066. After-tax is about $48,600 (blended fed-alberta tax rate is about 20.5% in that tax bracket). $48,600/26 bi-weekly pay periods = $1,869. It seems that the pay is under negotiation in Alberta since the contract period has lapsed. I guess this establishes a floor for you as it will likely go up. Link to comment Share on other sites More sharing options...
Mithril Posted February 2, 2018 Report Share Posted February 2, 2018 My tax credits will cover the latter half of my PGY-2 salary on my 2017 tax return. I didn't do my residency in Alberta but the resident salaries between Alberta and BC aren't too far off for the purposes of calculating tax. Link to comment Share on other sites More sharing options...
LostLamb Posted February 4, 2018 Report Share Posted February 4, 2018 I've obviously done too much school...I still had tuition credits in for pgy2-3 year and anticipating some still for pgy3-4. You ought to be good for 1800 on average. I ran anywhere from 1650 to 1950 biweekly plus the weeks with call stipends that were more. You can "increase" your biweekly pay by increasing the baseline untaxed income by resubmitting your TD1 and TD1 AB with educational amounts included. I'd speak with your accountant about what that amount amounts to exactly. Link to comment Share on other sites More sharing options...
distressedpremed Posted February 5, 2018 Author Report Share Posted February 5, 2018 5 hours ago, LostLamb said: I've obviously done too much school...I still had tuition credits in for pgy2-3 year and anticipating some still for pgy3-4. You ought to be good for 1800 on average. I ran anywhere from 1650 to 1950 biweekly plus the weeks with call stipends that were more. You can "increase" your biweekly pay by increasing the baseline untaxed income by resubmitting your TD1 and TD1 AB with educational amounts included. I'd speak with your accountant about what that amount amounts to exactly. Hopefully this $1800 or so (including call stipends) is after AHS robs me of my monthly parking fee? Yea that's what I'm doing now - I'm using the TD1 with my credits for my PGY-1 year, hopefully won't run out before the start of PGY-3. Probably didn't do as much school as you, just a bachelors and med. Link to comment Share on other sites More sharing options...
ellorie Posted February 5, 2018 Report Share Posted February 5, 2018 I did Bachelors and then med and I’m expecting my credits to last probably at least partway through the 2018 tax year, which is my PGY3-4 Link to comment Share on other sites More sharing options...
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