DaleBoy

Hi all, so wanted some info. Moving to ns in the coming months and wanted to know the main taxes etc.
- I know you pay so much tax in pay packet
- I assume there us a equivalent to council tax?
- any other tax?
- I assume other outgoings are things such as road tax etc? Any thing else major?
- and everyone has to do a tax return by end if April? How come this is the case if paying tax via ur pay packet?

Cheers

Hurlabrick

Wiki anyone?

Category:Taxes-Canada : British Expat Wiki

Former Lancastrian

Any other tax Although some are called user fees and its not a tax.

If you are employed ie have a job you will pay Federal Income Tax, CPP, EI and then possibly Union Dues, Medical Plan which will come off your pay cheque.
Home owner then your yearly taxes for property and school taxes.
Driving licence yearly plus vehicle/home insurance.
Possibly professional fees dependent on your employment.
Utilities if not included in rent such as hydro, gas, phone, internet and TV

You might possibly have a little cry when you see gross earnings and then look at what was deposited into your account. Then after paying off everything else you will then decide how to spend any leftovers. If you manage to save money then interest rates are very low for guaranteed returns.

But its not all doom and gloom as I believe a Big Mac meal costs the same in pounds as it does in Canadian dollars and petrol(gas) is cheaper but DONT buy cheese.

BristolUK

Purchase tax, similar to VAT, on non food items (unless luxury food - prawns are food except when in a ring and are then taxed) but you may get quarterly refunds based on your tax return for the previous year.
Canada can't seem to do tax codes and get the deductions right, even for straightforward incomes.

Some people like it this way because they like to get the tax refunds (from paying too much).

Some also like the fact that they can claim things as deductible - like medical costs. But they do have to be quite high before you see a difference

MB-Realtor

I too have never understood the joy it seems to bring people when they find out they have given an interest-free loan to the government. ????

scilly

Yes to this!!

OH's "take home" was always about 1/5th to 1/6th of the gross by the time all that FL mentioned above was taken off PLUS monthly contribution to RRSP and to the Canada Savings Plan (no longer exists I understand), and the automatic monthly deductions to house mortgage and to life insurance policies were taken.

BristolUK

Canada does have a bit of an obsession with tax.

There are "tax grabs" (taxation) and people are forever complaining about their "tax dollars" (taxation).

There's even a "day" to commemorate when you start keeping your earnings because everything to that point has been tax.

Atlantic Xpat

Plus EI and CPP contributions are taken at a prescribed rate until you max out on your contributions for the year. Then your pay goes up for the rest of the year. (Assuming you earn more than the threshold amount.) Why payments can't be prorata'd across your whole salary based on last years tax return I dunno.

Linotype

Don't forget provincial income tax.
Big difference in income tax between some provinces.
For instance on a salary of $70,000 you will pay $4000 to $3000 more income tax per year in Nova Scotia as compared to BC or Alberta.
https://www.taxtips.ca/calculators/c...calculator.htm

Also provincial sales tax and GST (HST) in Nova Scotia is 15%.
This does not exist in Alberta, we just pay the 5% GST.

BristolUK

Yes. It's quite useful in paying the significantly higher housing costs.

Swings and roundabouts and wotnot.

withabix

Tax on savings interest, because it isn't deducted at source.

If you live in BC, PST and GST (so 12%) tax on purchase of all second hand vehicles (including boats, trailers and caravans), payable when you get a plate for them. Buyer pays, not seller.

Aviator

At dealers GST and PST is added at the POS when you buy the vehicle. Private used vehicle purchase, PST (12%) is added when the transfer is done, usually at an Autoplan agent. No GST on private used vehicle purchases. There is also luxury tax on vehicles over costing $55k and up on and upward sliding scale. Plus AC tax, battery levy, tire levy.

The taxation on used vehicles can have a significant impact on business purchasers.