OHP

[Lady Pi Phi]

Got this in an email this morning.


Taxable Income 2004 Taxation Year 2005 and Subsequent Tax Years

Up to $20,000 No premium No premium
$20,000 - $36,000 $150 $300
$36,000 - $48,000 $225 $450
$48,000 - $72,000 $300 $600
$72,000 - $200,000 $375 $750
More than $200,000 $450 $900

The first premium level would be phased in at 6% of taxable income in
excess of $20,000, with the full premium payable at taxable income of
$25,000. The implementation is occurring July 1, 2004 and premiums for
2004 will be equal to one-half of the 2005 amount payable. For 2005, an
individual with taxable income of $22,000 would pay $60 [(6% x $2,000) x
½]. Each subsequent increase in premium level would be phased in over the
first $600 of taxable income in that range at a rate of 25%.

The premium would apply to individuals who are residents of Ontario on the
last day of the taxation year. Trusts and non-resident taxpayers would be
exempt from the premium. Individuals who become bankrupt during the year
would be required to pay the premium based on their taxable income for the
full calendar year. For individuals who die or emigrate from Canada during
the year, the premium would be determined based on taxable income reported
in the individual's final Ontario tax return.

To simplify compliance for premium remitters and minimize administrative
costs, the Province will work with the Canada Revenue Agency to collect and
administer the premium on Ontario's behalf. Since the premium is proposed
to be implemented through the Income Tax Act and administered under the
existing Tax Collection Agreement between Ontario and the federal
government, income tax withholding and instalment rules would apply.

Withholdings will commence July 1, 2004. To ensure that employers do not
incur added costs to change their payroll systems, the premium would be
included on pay statements as a component of the income tax withheld.
Individuals who make income tax instalment payments will have the option of
adding the proposed premium to the remaining instalment payments for 2004
and the first two instalments in 2005. Individuals would determine the
actual amount of the premium on their annual tax returns. A full review of
the premium by a committee of the legislature is proposed to take place by 2009.

[AGDee]

Originally posted by _Opi_
$460?


I get mine for $60 every 3-months (w/o insurance). Thats about $240 Canadian. Do you get a special kind of contacts?

Oops, missed this before! Yes, after 25 years of wearing contacts, apparently my eyes are starting to rebel and my eye doc insists that I can only wear this one kind. They are disposable and can be worn for one month. They are about $40 a pair, per month, for 12 months = $480. It stinks. I'm considering getting lasik surgery at $659 per eye, but they can't guarantee that I won't still need glasses AND they said that I can't wear contacts at all if I get that done. Dilemmas!

Dee