We've updated our free Canadian payroll tax deductions calculator for 2012. This latest version includes the January 2012 income tax tables and formulas from the Canada Revenue agency and Revenue Quebec. Both online and download versions have been updated.
Also new in this update is a “Vacation Pay” field. Now you can easily display reports with vacation pay separate from regular salary. Also, report printing has been immproved
Besides the federal tax rate changes, provincial rates for most provinces have also changed as of January 2012. Some provinces change tax rates mid-year which is why we suggest visiting us to download the latest version of the calculator every 6 months. If you use the online version of the payroll tax calculator (which is what we recommend), you don't need to worry about downloading new versions because we update it behind the scenes.