little flower

My bum still hurts
we did lots of homework visited NS found out cost of living mortgage etc etc we DIDNT find out how much TAX etc we would have to pay, My hubby gets paid $1105.74 Gross he takes home $680. Now that we didnt take into account
Life here is great BUT I think realistically for our families future we may have to move back to the Uk

riosangel

Good grief, is tax really that high? Does anyone have a link to a page explaining about the tax system in Canada?

paolosmythe

of course every person's life circumstance differs, as much as their priorities do. but are these really the most pivotal areas of consideration?

loss of position to me is a kind of bonus... you get to hit the bottom rung running, aware of what lies (theoretically) before you and thus have experience to ascend without past mistakes.

starting over is no bad thing. tis why there are 'gimmes' in golf

i have no kids and the few relatives i do have are spread wide and thin anyways....

it is true that a loss of value to my savings due to the current currency exchange horror is a troublesome thing to swallow, but that is life...

and relocation costs are inversely proportional to how light you travel.... as part of the 'start over' logic, i am thinking of taking over next to nothing.

i am suddenly left feeling a bit gung ho about it all!

Summer-Caitlin

YIKES! I had no idea that tax was that high. I have an idea of what I could be earning when I qualify, but no one has ever explained the tax to me. I sure hope this isn't the norm...

ETA Just looked at the tax calculator though and see that I could lose about $1000 pm on tax deductions, seems like a lot until I checked what I lose here on tax and NI and I lose about £4000 per year here, about $7000, so all in all it isn't that bad, bear in mind I have a much lower pay here. Is there any other deductions I need to be aware of?

Steve_P

He is losing 38.5% to deductions that seems awfully high even for Canada.

For that level I can only assume that's a weekly salary but even then the deductions seem to be too high.

Simon Legree

Maybe he's signed up for an expensive range of benefits. I agree that 38.5% off the top is way above the norm and I would question it.

little flower

Yeah that is weekly, that includes Health and Detal. For a family of 4.
Still pooh!!! lol

Simon Legree

How much is the deduction for dental coverage and what does it cover ? If it covers braces and such then it will be expensive.

little flower

Dental is $7.92 weekly.
We have 2 young kids so need good cover. :0)

Simon Legree

If it is only $7.92 a week for a family of four, which sounds cheap, then I would certainly question every other deduction.

Steve_P

I wonder if he is being taxed as a single man with no dependants.

If you are not working he should confirm with payroll that he is being deducted as married with two children.

Maybe that will help?

If he fills in this form and gives it to payroll they might be able to confirm or fix his tax rate. http://www.cra-arc.gc.ca/E/pbg/tf/td1/td1-09e.pdf

If you are not working he should be able to claim the basic $10,100 for himself $10,100 for you and $2,089 for each of the children for a total claim of $24,378

Simon Legree

Good point Steve.

snowshoveller

The lighter you travel the more you gotta buy!

having said that you dont need to buy it all at once!

We brought over a few boxes, irreplaceable things - family pics, professional text books, kids toys

We bought the cheapest sofa/beds/tables and chairs we could and a 18 inch telly to amuse this kids - its a bit like being a student again. Still in rented house 18 months later and so havent felt the need to update yet - not sure we could afford to just yet anyhow (ikea doesnt arrive until 2012 - if we are still here we might be able to afford some newer stuff!)

R I C H

I have 35% of my salary lost in various deductions - this breakdown might help explain things:

Canada Pension Plan
EI
Federal income tax
Provincial tax
Union dues
Long term disability
Short term disability
Employers pension

Taxable benefits also include life insurance and medical cover.

These are all compulsory deductions, and it makes the take-home pay seem fairly slim, but having said that Mrs Rich has needed 4 crowns this month (total cost to us was $125), and prescriptions are 100% covered as are all opticians and contact lens costs.

Steve_P

I know 3.5% is not a lot but 34-35% is more what I would have expected for total deductions for a couple or even taxed as single no kids.

38.5% total deductions for married, wife not working and two kids just seems too high to me.