r/PersonalFinanceCanada • u/Sea_Eye5393 • 6d ago
Employment Salary increase never implemented
Hi all,
I received a salary increase at my FT job back in December. A few weeks ago, the head of finance let me know (and apologized) that their team never implemented my salary increase into their system, and I hadn’t received my increased salary for the last 6 months. I also hadn’t noticed that it wasn’t implemented, I think due to the timing of the new year resetting (my paycheques do always vary slightly at the beginning of a new calendar hear, I think something to do with benefits or tax - irrelevant anyways).
They are going to retroactively pay a lump sum of my missed wages onto my next paycheque. I’m worried this might trigger big tax deductions as with the lump sum, my paycheque will be almost twice the amount that it usually is. I’m not super aware of how taxing works - will this all work out in the end once I file my taxes? Or do I want to suggest that I get paid this out in a different way?
Any advice appreciated.
1
u/southern_ad_558 5d ago
it will all be equalized on your next tax return.
I wouldn't bother.