I work for a big company and recently when I was comparing each take home pay I realized I am getting taxed significantly less than my colleagues. I am getting taxed ~6% less than my colleagues, resulting in around 200$ more pay for each bi weekly check. I reached out to my company but they don’t seem to notice this mistake and in fact provided me with a written response claiming there is nothing wrong with my taxes (3-5% diff in tax can be hard to notice) I believe there is an option (a form you can fill out? T220a or something) to report this to employer so that they tax you the right amount.

My question is, do I stay quiet, not file for the correction form and keep rolling with these extra earnings into ETFs for interest until tax season comes? Would I get into trouble by the CRA if I sit on this too long (I have been undertaxed for 1.5 years now)? I know in America I believe you are obligated to pay taxes on ongoing basis and report undertaxed situation immediately or you can get significant tax penalty… but is that the same case here in Canada?

Any opinions are truly appreciated!!