Jib Jib

Hi,

I've been offered a job in Calgary with a salary of $107K CND per year. What I am not sure of its the amount that I would "take home" after tax? I am trying to work out at the moment if it is enough to live on for 2 people (until my wife finds work) we will also need to rent a place somewhere close to downtown and I will also need to send £1300 back to the UK each month to pay my mortgage in the UK.

I would be grateful if anyone could advise me?

Thanks

David

cneldred

Hi David, according to the Tax Calculator in the WIKI (http://www.ey.com/GLOBAL/content.nsf...7_Personal_Tax)

You would pay CAD$30,000 in income tax. Out of the remaining CAD$77,000 you would have to allow about CAD$35,000 to send back to the UK for that mortgage. Leaving you CAD$42,000 after tax per year for rent and living in Calgary. Leaving you CAD$3,500 a month. I would check out MLS for rentals i Calgary but i would expect you to be giving about half of that away in rent.

Bottom line, until you either get rid of house in UK or the missus gets a job it is gonna be tough. Could you rent UK house to give you some earnings towards that mortgage payment? And savings wise anything you could bring over that would secure rental for x amount of time until wife gets a job?

Hope that helps

Chris

gryphea

I would agree - it will be tough. Nothing wrong with the salary- but very tricky to send ~$2600 home every month. Look on rentfaster.ca for an idea of rents.

Gryph

Gcauseway

Well realistically $107K should be enough to live on ... I think the average salary of most people is about $60K so you're doing well . I would seriously think about renting out your home back in the UK. There must be leasing management companies that can help you out here.

I'm sure you can live on the remainder of your $ though and wifey could easily get a little part-time job. It's amazing what you can live on when you have to!

Have a look at www.canada.com/calgaryherald for jobs and rentals and that rentfaster.ca website gryphea quoted is great.

Good luck!

gryphea

if your house in the Uk is empty longer than 6 months you are also liable for council tax and buildings insurance becomes pretty tricky

Gryph

Journeyman Electrician

jib jib

Aren't they offering relocation assistance to avoid any financial hardship on your part, Calgary's not a cheap place to live in Canada. In fact its one of the most expensive ($5.00 for a loaf of bread).
The wage is however above average and in the long term will I'm sure prove adequate of course this does totally depend on lifestyle.

gryphea

Wow - what kind of bread do you eat?

I buy safeway 100% wholemeal and its 1.69!

Journeyman Electrician

That should have read ($5.00 for a litre of gas).

Roos here

you mean Gallon??

rwin

I would guess too. But give it a couple of months. Summer's almost here.

Roos here

i know, dread filling up now, it takes $140 to fillup the tank and i never let it get too low.

Novocastrian

WTF are you driving?

Steve_P

Listed price for gas at the majors (Esso, Shell etc) $1.29.9 per liter or $5.91 per gallon.

Pump price varies from $1.20.9 per liter or $5.50 per gallon to $1.25.4 per liter or $5.70.5 per gallon.

http://www.calgarygasprices.com/index.aspx?

skyturner

Hey, can you ship me a couple of gallons over here (cost me £120 to fill with diesel! )

Roos here

Got an F150, but its got the 145 litre tank so holds quite a bit, but it lasts long enough, not as bad as i thought it would be on gas, i just leave it a while between fill ups.