Big shock with first wage slip.
Dec 20th 2012, 10:32 pm
#91
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,685
Re: Big shock with first wage slip.
Surrey - mountains very close.
Calgary - mountains in the distance.
Missassauga - mountains nowhere to be seen.
Dec 23rd 2012, 7:11 am
#92
Grumpy Know-it-all
Joined: Jul 2010
Location: Calgary, Alberta
Posts: 8,928
Re: Big shock with first wage slip.
Hi Guys,
OH has just had first wage slip and tax deductions are huge!. Is it right, as have used the CRA website to double check, that over half your income is deducted in Tax, EI & CPP would seem 48% is take home (Ontario is district) This could be a show stopper for us
OH has just had first wage slip and tax deductions are huge!. Is it right, as have used the CRA website to double check, that over half your income is deducted in Tax, EI & CPP would seem 48% is take home (Ontario is district) This could be a show stopper for us
Contrary to what a lot of people are saying in this thread, taxation is definitely lower in Canada than it is in the UK, that's just a fact. Payroll taxes are way lower and the marginal rates of income tax are usually lower. It does depend on what your income is and which province you live in of course.
We always seem to get into comparisons with the cost of living but frankly I've given up bothering because its been so long since I lived in the UK it's a pointless exercise now. Way back when, the only things I noticed that cost more were car insurance (but not massively more like some people say on here) and booze is more expensive. Everything else is the same or cheaper (but that's without VAT - the VAT rate being 20% now in the UK that makes everything more expensive). I think the exchange rate makes things look more expensive because things have bigger numbers on them, but in reality that is not the case.
TV you could argue is more expensive because there are usually only six channels OTA in Canada but in the UK there is "freeview" that you only need a TV licence for, but that is more to do with a difference in technology and population density. If you're okay with six channels it is less expensive in Canada, no TV licence.
And it is much easier to shop in the US than to get to France for example, so you can also save money that way too.
I think part of it is that you buy things in a different way in Canada. On-line shopping is less popular because of freight costs and how slow they are to ship, its a question of shopping around in shops and maybe haggling with them, a skill that I think a lot of people have lost - but Canadians are really keen bargain hunters.
For example in Calgary, Visions Electronics and Soundsaround are usually much cheaper than Best Buy/Future Shop, but their locations are less obvious (which is part of why they're cheaper).
Dec 24th 2012, 4:24 pm
#93
Forum Regular
Joined: Nov 2010
Posts: 214
Re: Big shock with first wage slip.
That sounds way too high, are there union dues? Or some other sort of withholding, e.g. for an RSP or RRSP?
Contrary to what a lot of people are saying in this thread, taxation is definitely lower in Canada than it is in the UK, that's just a fact. Payroll taxes are way lower and the marginal rates of income tax are usually lower. It does depend on what your income is and which province you live in of course.
We always seem to get into comparisons with the cost of living but frankly I've given up bothering because its been so long since I lived in the UK it's a pointless exercise now. Way back when, the only things I noticed that cost more were car insurance (but not massively more like some people say on here) and booze is more expensive. Everything else is the same or cheaper (but that's without VAT - the VAT rate being 20% now in the UK that makes everything more expensive). I think the exchange rate makes things look more expensive because things have bigger numbers on them, but in reality that is not the case.
TV you could argue is more expensive because there are usually only six channels OTA in Canada but in the UK there is "freeview" that you only need a TV licence for, but that is more to do with a difference in technology and population density. If you're okay with six channels it is less expensive in Canada, no TV licence.
And it is much easier to shop in the US than to get to France for example, so you can also save money that way too.
I think part of it is that you buy things in a different way in Canada. On-line shopping is less popular because of freight costs and how slow they are to ship, its a question of shopping around in shops and maybe haggling with them, a skill that I think a lot of people have lost - but Canadians are really keen bargain hunters.
For example in Calgary, Visions Electronics and Soundsaround are usually much cheaper than Best Buy/Future Shop, but their locations are less obvious (which is part of why they're cheaper).
Contrary to what a lot of people are saying in this thread, taxation is definitely lower in Canada than it is in the UK, that's just a fact. Payroll taxes are way lower and the marginal rates of income tax are usually lower. It does depend on what your income is and which province you live in of course.
We always seem to get into comparisons with the cost of living but frankly I've given up bothering because its been so long since I lived in the UK it's a pointless exercise now. Way back when, the only things I noticed that cost more were car insurance (but not massively more like some people say on here) and booze is more expensive. Everything else is the same or cheaper (but that's without VAT - the VAT rate being 20% now in the UK that makes everything more expensive). I think the exchange rate makes things look more expensive because things have bigger numbers on them, but in reality that is not the case.
TV you could argue is more expensive because there are usually only six channels OTA in Canada but in the UK there is "freeview" that you only need a TV licence for, but that is more to do with a difference in technology and population density. If you're okay with six channels it is less expensive in Canada, no TV licence.
And it is much easier to shop in the US than to get to France for example, so you can also save money that way too.
I think part of it is that you buy things in a different way in Canada. On-line shopping is less popular because of freight costs and how slow they are to ship, its a question of shopping around in shops and maybe haggling with them, a skill that I think a lot of people have lost - but Canadians are really keen bargain hunters.
For example in Calgary, Visions Electronics and Soundsaround are usually much cheaper than Best Buy/Future Shop, but their locations are less obvious (which is part of why they're cheaper).
Dec 24th 2012, 5:27 pm
#94
The ride never ends
Joined: Sep 2011
Location: SW Ontario
Posts: 2,481
Re: Big shock with first wage slip.
Your living in dreamland mate... taxation is higher in NS than the UK.. as for TV.. OMG.. are you joking ?? its ok saying shopping in the US is cheaper, but what about the cost of getting there ?? Europe costs peanuts to get to... what about cell phone contracts and internet ?? are they comparable ?? No way sir... maybe its just NS ??
This is pretty obvious, or so I thought, because taxes tend to be higher in the eastern provinces. Do the same calculation for BC and it'll be under 20%. In Ontario about 21%
At larger wages within Canada you see a clearer trend. Earn $120,000 a year in AB and your tax bill is about $32,000. Earn the $120,000 in NS and you'll get your eye wiped for an additional $7k. Put another way...you'll work for about 3 weeks more in NS for the same end result
Essentially it boils down to whether you make a rookie mistake and decide to pitch up in maritime province. Heaven forbid you decide to go to QC lol.
Last edited by orly; Dec 24th 2012 at 5:43 pm.
Dec 24th 2012, 6:16 pm
#95
Forum Regular
Joined: Nov 2010
Posts: 214
Re: Big shock with first wage slip.
In terms of raw income tax you'll pay about 2% more in NS over the UK on an "average" Canadian income (approx $41,000). You'll lose about 24% of your income in federal/provincial taxes in NS. For the same amount of money (converted), you'll lose about 22% off a UK income of approx 25k GBP.
This is pretty obvious, or so I thought, because taxes tend to be higher in the eastern provinces. Do the same calculation for BC and it'll be under 20%. In Ontario about 21%
At larger wages within Canada you see a clearer trend. Earn $120,000 a year in AB and your tax bill is about $32,000. Earn the $120,000 in NS and you'll get your eye wiped for an additional $7k. Put another way...you'll work for about 3 weeks more in NS for the same end result
Essentially it boils down to whether you make a rookie mistake and decide to pitch up in maritime province. Heaven forbid you decide to go to QC lol.
This is pretty obvious, or so I thought, because taxes tend to be higher in the eastern provinces. Do the same calculation for BC and it'll be under 20%. In Ontario about 21%
At larger wages within Canada you see a clearer trend. Earn $120,000 a year in AB and your tax bill is about $32,000. Earn the $120,000 in NS and you'll get your eye wiped for an additional $7k. Put another way...you'll work for about 3 weeks more in NS for the same end result
Essentially it boils down to whether you make a rookie mistake and decide to pitch up in maritime province. Heaven forbid you decide to go to QC lol.
Dec 29th 2012, 5:20 pm
#96
Assimilated Pauper
Joined: Mar 2005
Location: Ontario
Posts: 40,022
Re: Big shock with first wage slip.
