Paying significantly more tax worth better lifestyle? (Nova Scotia)
Aug 23rd 2014, 1:53 pm
#31
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Joined: Jan 2014
Posts: 466
Re: Paying significantly more tax worth better lifestyle? (Nova Scotia)
Realistically, $300k allows you to live pretty much anywhere you want.
Why would you waste that opportunity by even considering Nova Scotia?
Why would you waste that opportunity by even considering Nova Scotia?
Aug 23rd 2014, 2:14 pm
#32
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Joined: Nov 2009
Location: Somewhere in Hamilton, ON
Posts: 4,307
Re: Paying significantly more tax worth better lifestyle? (Nova Scotia)
That's a little harsh. Different places appeal to different people...
Aug 23rd 2014, 3:37 pm
#33
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Re: Paying significantly more tax worth better lifestyle? (Nova Scotia)
Agreed.
Aug 23rd 2014, 5:15 pm
#34
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Joined: Jun 2012
Location: Atlantic Canada
Posts: 38
Re: Paying significantly more tax worth better lifestyle? (Nova Scotia)
If you had the choice:
Making 300,000 CAD a year (doesn't matter where you live work-wise) and living in Europe, not having to pay income taxes on that amount.
OR
Moving to NS for a better lifestyle but having to pay 43% income tax on those 300,000. It's still an above average income and one could live more than comfortable on it but would "sacrificing" 129,000 CAD yearly be worth the idea of a better lifestyle? I want to mention that this kind of salary would be for a maximum of another 10 years.
I know nobody can make the decision for us but I'm just wondering if we are completely out of our minds or if "money is not everything" if still comfortable is more important. Don't really want to discuss these financial matters with friends hence my question in an anonymous forum. I'd really appreciate opinions on this.
Making 300,000 CAD a year (doesn't matter where you live work-wise) and living in Europe, not having to pay income taxes on that amount.
OR
Moving to NS for a better lifestyle but having to pay 43% income tax on those 300,000. It's still an above average income and one could live more than comfortable on it but would "sacrificing" 129,000 CAD yearly be worth the idea of a better lifestyle? I want to mention that this kind of salary would be for a maximum of another 10 years.
I know nobody can make the decision for us but I'm just wondering if we are completely out of our minds or if "money is not everything" if still comfortable is more important. Don't really want to discuss these financial matters with friends hence my question in an anonymous forum. I'd really appreciate opinions on this.
Keep it really simple...as long as you are not sacrificing contact with family and a decent society to live in etc, just go with the dough. The other stuff....you can buy. There is a massive difference between 300K and 171K, not to be sniffed at except you are super rich.
