Originally Posted by SANDRAPAUL

There was a discussion about taxation levels a couple of weeks back and there was a thread put forward by Mr iaink which some disagreed with.

I found this link...

http://www.cra-arc.gc.ca/tax/individ...axrates-e.html

and then I got out my calculator and according to my workings a person earning up to $71,990 will indeed pay back 26% of personal income. And this being a fairly decent salary level to my thinking would make at the moment taxation levels some 5% lower than the UK.....and I bet it will be 6% very soon!

The one thing which is not in the equation is PST/GST. If one spent $7,800 on food this would add another $1,000 or so.

One off items and cars etc all have VAT or some form of built-in taxation anyway so Mr Iaink it seem was right :rolleyes: ?

Originally Posted by SANDRAPAUL

There was a discussion about taxation levels a couple of weeks back and there was a thread put forward by Mr iaink which some disagreed with.

I found this link...

http://www.cra-arc.gc.ca/tax/individ...axrates-e.html

and then I got out my calculator and according to my workings a person earning up to $71,990 will indeed pay back 26% of personal income. And this being a fairly decent salary level to my thinking would make at the moment taxation levels some 5% lower than the UK.....and I bet it will be 6% very soon!

The one thing which is not in the equation is PST/GST. If one spent $7,800 on food this would add another $1,000 or so.

One off items and cars etc all have VAT or some form of built-in taxation anyway so Mr Iaink it seem was right :rolleyes: ?

Originally Posted by ontres

For the time being there is no PST/GST on 'necessities' in the food department, only on non-necessities such as potato chips, sweets etc. And as far as ITax is concerned, the 26% is a baseline for the base amount listed. The closer your income creeps up to the next tax bracket, the less the compensatory factors apply, and hence the closer you get to the next [35%] bracket. It more or less works out to something like a straight line graph.

Originally Posted by ontres

And don't forget that you also have to fork out to the Province, at the same time you pay the feds. That ain't hay.

Originally Posted by dingbat

I have never paid 26% and earn a lot less than $70k and have daycare deductions. My combined tax load is closer to 35% combined. There are lots of other hidden extras - like tax on books, and fees for just about everything official. It is not quite as good as it seems. I paid less tax in the UK on a muchhigher salary. I am in BC though.

Originally Posted by SANDRAPAUL

I guess its about time I stopped doing this as it seems to not be of any interest.

UK. Basic rate is 31% once NI is taken into concern. But the average burden is 41% and is likely to reach 44% as an average.

But.... that was not the purpose of the thread.

We can all say we pay this or that and it costs much more or much less from a personal perspective but that proves little.

We are all different, have different lifestyles, spend our monies on different things and therefore will pay a different amount.

Sorry if I am being negative.

But in the main it was for those thinking about going to Canada and that Canada has much higher tax burden than it does.

We probably all pay too much perhaps due to the waste on both sides of the pond?

Originally Posted by SANDRAPAUL

I guess its about time I stopped doing this as it seems to not be of any interest.

UK. Basic rate is 31% once NI is taken into concern. But the average burden is 41% and is likely to reach 44% as an average.

But.... that was not the purpose of the thread.

We can all say we pay this or that and it costs much more or much less from a personal perspective but that proves little.

We are all different, have different lifestyles, spend our monies on different things and therefore will pay a different amount.

Sorry if I am being negative.

But in the main it was for those thinking about going to Canada and that Canada has much higher tax burden than it does.

We probably all pay too much perhaps due to the waste on both sides of the pond?