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LukeS1994's questions about income tax

LukeS1994's questions about income tax

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Old Feb 1st 2016, 11:27 am
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Default LukeS1994's questions about income tax

What are taxes like uk vs Canada ? I thought you paid less tax in Canada at least that's what the tax calculators say for income tax

The U.K. is one of the most highly taxed places in the world and one of the only places which taxes there own tax. VAT is added onto the fuel price including the fuel duty which is a tax. The same is done with alcohol and cigarettes (not that I care for them)
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Old Feb 1st 2016, 11:35 am
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Default Re: Is anyone else massively impressed in Canada?

Originally Posted by LukeS1994
What are taxes like uk vs Canada ? I thought you paid less tax in Canada at least that's what the tax calculators say for income tax
It depends on the province, income, etc, so hard to say generally, but usually on par with the UK. The tax calculators should help (just make sure you're looking at provincial taxes as well as Federal). As should this Wiki article - Income Tax Rates-Canada : British Expat Wiki

You'll need to add on other things such as EI and CPP when working out your payroll deductions and what you'll have left over.

Depending on the province you're going to, don't forget to add on healthcare premiums etc too.

I've moved your post in to a thread of your own as it's not really relevant to the original subject and quite a specific question, if you can give more info about your income and province, then others can give you more precise info about what you'll earn after deductions.

HTH.
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Old Feb 1st 2016, 2:52 pm
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Default Re: LukeS1994's questions about income tax

If that's one of your reasons for moving, then I'd rethink the whole thing tbqfh

You should probably look at Cost Of Living as a whole, as opposed just to how much tax you will be paying

Me personally, I couldn't really give two shits if taxes were higher or lower...they're an inevitability, so find somewhere you like with a job that allows you to afford the standard of living that you want
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Old Feb 1st 2016, 3:35 pm
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Default Re: LukeS1994's questions about income tax

Originally Posted by LukeS1994
What are taxes like uk vs Canada ? I thought you paid less tax in Canada at least that's what the tax calculators say for income tax

The U.K. is one of the most highly taxed places in the world and one of the only places which taxes there own tax. VAT is added onto the fuel price including the fuel duty which is a tax. The same is done with alcohol and cigarettes (not that I care for them)
Canada pretty much the same. It's what pays for all the services we moan about not getting or being cut. With an aging population and fewer tax payers to cover, expect higher taxes.

Fuel tax is in gasoline and part of the pre tax price, to tax on tax.

Rule of thumb has been, expect to donate 50-60% of what you earn to the government one way or another.

If this is important to you. Canada is not the place to come to.
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Old Feb 1st 2016, 5:12 pm
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Default Re: LukeS1994's questions about income tax

Originally Posted by haggis88
If that's one of your reasons for moving, then I'd rethink the whole thing tbqfh

You should probably look at Cost Of Living as a whole, as opposed just to how much tax you will be paying

Me personally, I couldn't really give two shits if taxes were higher or lower...they're an inevitability, so find somewhere you like with a job that allows you to afford the standard of living that you want
also don't forget to check what salary your profession demands in Canada. For some jobs its higher for some its lower.
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Old Feb 1st 2016, 5:28 pm
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Default Re: LukeS1994's questions about income tax

As others have said, if your basis for moving is to pay less tax, think again and do more research...
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