Diary of our move to Canada
#136
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Joined: Jan 2018
Location: priced out of Waterloo
Posts: 105
Re: Diary of our move to Canada
Great news.
Now to deal with the red tape. I am not impressed with the cost of incorporating. Are there so-called "umbrella" companies in Canada?
Now to deal with the red tape. I am not impressed with the cost of incorporating. Are there so-called "umbrella" companies in Canada?
#137
Re: Diary of our move to Canada
I would have thought the cost of incorporation, around $1,000, was not a big deal. It's the cost of wrapping up the corporation when it's no longer needed that you should be concerned about.
#138
Re: Diary of our move to Canada
But do you have to be incorporated? Isn’t self employed with an HST number sufficient?
#139
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Joined: Jan 2018
Location: priced out of Waterloo
Posts: 105
Re: Diary of our move to Canada
That Umbrella is cheap! how do I sign up. Presently I have a client who is 8 months late on an invoice...so I'm used to waiting.
I incorporated in England for £50 a long time ago. It seems to have become even cheaper - advertised online for £10! (crikey). So that's why I find $360 unimpressive.
In the long term - yeah it's a small price to pay.
I had a hassle getting a business account as I was only in England a month - I had to sweet talk the bank manager . I managed to even get a credit card as well by asking for a £400 limit!
I incorporated in England for £50 a long time ago. It seems to have become even cheaper - advertised online for £10! (crikey). So that's why I find $360 unimpressive.
In the long term - yeah it's a small price to pay.
I had a hassle getting a business account as I was only in England a month - I had to sweet talk the bank manager . I managed to even get a credit card as well by asking for a £400 limit!
#140
Re: Diary of our move to Canada
Send me a PM.
" Isn’t self employed with an HST number sufficient"
No, pimps (or prestigious providers of expertise on a consulting basis) want the arm's length relationship afforded by the incorporation and generally won't deal with someone who's not incorporated.
" Isn’t self employed with an HST number sufficient"
No, pimps (or prestigious providers of expertise on a consulting basis) want the arm's length relationship afforded by the incorporation and generally won't deal with someone who's not incorporated.
#141
Re: Diary of our move to Canada
I see. It works for me but I’m not a high flying IT specialist. 😊
#142
Re: Diary of our move to Canada
I'm not sure why this isn't a problem for estate agents, maybe because they're paid 100% commission. The exposure is that, as employers move to using casual labour to avoid funding benefits, contracts get longer and longer and the contractors tend to have only one client. It's no longer unusual for someone to have a 40 hr/week contract in one place for five years. The taxman may deem the contractor to be a de facto employee and that means trouble for both the contractor and the employing entity. If the contractor is incorporated then the employing entity is his or her incorporation and the pimp is shielded somewhat. There are other considerations concerning various liability issues but the taxman is the main one; none of us really wants to know what EHT and CPP stand for.
#143
Re: Diary of our move to Canada
I'm not sure why this isn't a problem for estate agents, maybe because they're paid 100% commission. The exposure is that, as employers move to using casual labour to avoid funding benefits, contracts get longer and longer and the contractors tend to have only one client. It's no longer unusual for someone to have a 40 hr/week contract in one place for five years. The taxman may deem the contractor to be a de facto employee and that means trouble for both the contractor and the employing entity. If the contractor is incorporated then the employing entity is his or her incorporation and the pimp is shielded somewhat. There are other considerations concerning various liability issues but the taxman is the main one; none of us really wants to know what EHT and CPP stand for.
#144
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Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Diary of our move to Canada
Today is a red letter day for us. We have finally received the funds on the sale of our house in the UK. Even more good news is the exchange rate is heading back in our direction following the latest BoE meeting. Another member wants to increase the Bank of England interest rate. Currently hovering around $1.76. Would like to see a move back to $1.84 that was last seen in March 2018.
i start my new job downtown Toronto on Monday. Hopefully the ttc will operate better than last Monday when all lines were closed down mid morning. Monday 18 June 2018 was a very hot day with temperatures above 30c. Add the humidity index and it felt like 40c. Sadly one person was pushed onto the tracks at Bloor/Yonge station. Hot tempers and a dispute was reported to be the trigger.
Another worrying statistic is the number of cycle fatalities in Toronto. This month alone, 2 cyclists were knocked off their bikes and killed in Toronto. The road cycle network is a bit chaotic in Toronto and can do with a major upgrade. Cycle lanes should be segregated. Cars turning right on red across a cycle lane is mad!
This weekend is the Pride festival. We will be going to watch the event and supporting Mercy for Animals organisation.
More updates to follow, when we have the fun of tackling the Canadian tax system as an incorporated company......
i start my new job downtown Toronto on Monday. Hopefully the ttc will operate better than last Monday when all lines were closed down mid morning. Monday 18 June 2018 was a very hot day with temperatures above 30c. Add the humidity index and it felt like 40c. Sadly one person was pushed onto the tracks at Bloor/Yonge station. Hot tempers and a dispute was reported to be the trigger.
Another worrying statistic is the number of cycle fatalities in Toronto. This month alone, 2 cyclists were knocked off their bikes and killed in Toronto. The road cycle network is a bit chaotic in Toronto and can do with a major upgrade. Cycle lanes should be segregated. Cars turning right on red across a cycle lane is mad!
This weekend is the Pride festival. We will be going to watch the event and supporting Mercy for Animals organisation.
More updates to follow, when we have the fun of tackling the Canadian tax system as an incorporated company......
#145
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Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Diary of our move to Canada
Yesterday marked the final step in our journey to Canada with the arrival of our goods from the UK. It has taken just under 12 weeks from shipments on 24 April, to sea departure on 10 May, arrival in Toronto on 5 July, customs clearance on 7 July to delivery on Friday 13 July. I took the subway to Kipling and cycled the 16 km to the customs clearance house at Pearson airport. Paperwork took less than 5 minutes on a Saturday morning. Spent most of the time photocopying all my ID. Remember to bring passport, proof of residence and clearance document from shipping company. Britannia International shipping were really great and we would highly recommend them. Cost just over 2k sterling to ship 9.7 cubic meter of goods. 53 boxes in total. Now the fun starts....unpacking !
#146
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Joined: Dec 2016
Location: St Catharines, Ontario From Bournemouth UK
Posts: 417
Re: Diary of our move to Canada
It has been over 6 months since we provided an update on our move to Toronto from the UK. Today, we had record snow fall of 26cm in downtown. 30 January 2019 is predicted to be the coldest day this winter with a high of -15c. It's tax season now and we are learning all the interesting aspects on filing payroll, corporation tax and HST returns. We are using RBC for our corporate account and TD for personal banking. National Bank is used for our trading account as they charge no fees on stock or etf purchases when ordering 100 or more units. We are using Vanguard VBAL as our one stop stock and bond investment. The etf covers Canadian and world stock markets as well as Canadian and foreign bonds. Mutual funds are so expensive in Canada with 2% fees or more. The housing market is beginning to show signs of slow down and about time. $600k for an average 2bedroom condo and $1m+ for a 3bedroom house is crazy. Sales volumes are dropping double digits and hopefully in the next 6-12months the prices will start to fall. We had an idea of buying in Barrie, but seeing how much snow they get in winter has put us off the idea. Now considering the university town of Guelph. Will update later when we have completed all our tax returns for 2018. In the meantime we are looking to open a TSFA for2019.(equivalent to an ISA in the UK),altho although not as generous as Canada limits the tax free account to an annual $6k. We are glad to be in the East end near the beaches and close to little India. The subway although small compared to London England, is very quick to get to the downtown core. Metro is our go to grocery store, although Sobeys is closer. We find food and phone mobile costs more expensive than the UK, but fuel cheaper. So far, we are loving the experience and find the locals friendly and helpful. Good luck to all who plan to make the move in 2019.
#147
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Joined: Jan 2011
Location: Orton, Ontario
Posts: 2,032
Re: Diary of our move to Canada
It has been over 6 months since we provided an update on our move to Toronto from the UK. Today, we had record snow fall of 26cm in downtown. 30 January 2019 is predicted to be the coldest day this winter with a high of -15c. It's tax season now and we are learning all the interesting aspects on filing payroll, corporation tax and HST returns. We are using RBC for our corporate account and TD for personal banking. National Bank is used for our trading account as they charge no fees on stock or etf purchases when ordering 100 or more units. We are using Vanguard VBAL as our one stop stock and bond investment. The etf covers Canadian and world stock markets as well as Canadian and foreign bonds. Mutual funds are so expensive in Canada with 2% fees or more. The housing market is beginning to show signs of slow down and about time. $600k for an average 2bedroom condo and $1m+ for a 3bedroom house is crazy. Sales volumes are dropping double digits and hopefully in the next 6-12months the prices will start to fall. We had an idea of buying in Barrie, but seeing how much snow they get in winter has put us off the idea. Now considering the university town of Guelph. Will update later when we have completed all our tax returns for 2018. In the meantime we are looking to open a TSFA for2019.(equivalent to an ISA in the UK),altho although not as generous as Canada limits the tax free account to an annual $6k. We are glad to be in the East end near the beaches and close to little India. The subway although small compared to London England, is very quick to get to the downtown core. Metro is our go to grocery store, although Sobeys is closer. We find food and phone mobile costs more expensive than the UK, but fuel cheaper. So far, we are loving the experience and find the locals friendly and helpful. Good luck to all who plan to make the move in 2019.
#148
Re: Diary of our move to Canada
We live about 25 mins north of Guelph and its our nearest 'big' town. I really like it, has some great restaurants and seems to operate at a much more relaxed pace than places closer to Toronto. Property prices are much more reasonable too. It's not exactly snow free here but it may be better than Barrie. Thanks for the update - this thread has been an interesting read and has brought back quite a few memories of our first few months here.
#149
Re: Diary of our move to Canada
I work in Guelph (and lived here for a couple of years). A colleague commutes from Barrie. It's certainly snowier in Barrie.
I no longer suggest eating at the Wooly.
I no longer suggest eating at the Wooly.
Last edited by dbd33; Jan 30th 2019 at 6:36 pm.
#150
Re: Diary of our move to Canada
Ah, I'm strictly a 'having a pint once a twice a year when I'm in Guelph' kind of guy. I can't remember eating there. What was the problem with the food?