Tax in Canada

[ChariotsofFire]

Hello again guys,

This would be my first post after the introduction thread and I guess I'd like to ask the very first question I have in mind (probably even the 'only question' I have at the moment)

I heard probably a dozen of times not to work in Canada because of the high tax rate, is there truth in this? Some say it's 50%.

Thanks and more power to expat forum!

[louiseg]

Hi Chariots of Fire,

Well it is high enough although not 50%. I would say for personal tax return around 35%. Of course depends on how good your accountant is, as what you can write of against income.
Maybe that is why there is such a high rate of self emlpoyed people here

Originally Posted by ChariotsofFire

Hello again guys,

This would be my first post after the introduction thread and I guess I'd like to ask the very first question I have in mind (probably even the 'only question' I have at the moment)

I heard probably a dozen of times not to work in Canada because of the high tax rate, is there truth in this? Some say it's 50%.

Thanks and more power to expat forum!

[scotiagirl]

that still seems quite a lot!

so we could go on a work visa but i'm not allowed to work and what my husband does earn may be taxed at 35%??????
its no wonder so many of us get put off

a few years ago we looked into moving across and found that we needed around £20,000 (or is that ($20,000) in capital to cover settlement costs and living expenses. is that still the same or only if you are coming over unskilled? my hubby has qualifications now (hes a hgv truckdriver with cert to carry chemicals/hazardous materials) and i'm a gardener to trade although i've been a housewife for a few years now.

we have a minimum wage system here. its currently £5.58 per hour (approx!) for over 21s although it does rise with the job type/experience etc. although it seems more and more people get paid extortionate amounts for basically sitttting around making decisions or talking twadle and those who do the real work - builders, drivers, gardeners etc get pittance for long days and heavy work

does canada have higher wages to go with the higher tax or is the cost of living lower to weigh it up?

[Bevdeforges]

Take a look here for some information about tax rates in Canada. What are the income tax rates in Canada?

It's a bit complicated because things vary by province. You also need to look at what's covered in that overall tax rate - national health, retirement, whatever else. If you're getting more for your taxes, it can be a good deal. (I've often heard Canadians say that, though they pay more taxes than Americans, say, they get considerably more from what they pay.)
Cheers,
Bev

[scotiagirl]

i suppose that makes sense and better to know beforehand.

i'm sure most of us planning to move, whether at home or going abroad don't initially take these things into consideration.

we think about finding work, schooling for kids, what is there to see and do, the ease of getting from a-b - not tax deduction, health service, living expenses eg utilities or other cost outwith rent/food