Go Back  British Expats > Living & Moving Abroad > Canada > Immigration & Citizenship (Canada)
Reload this Page >

What is the Income tax percentage ?

What is the Income tax percentage ?

Old May 13th 2002, 10:20 pm
  #1  
Vasanth Kumar K
Guest
 
Posts: n/a
Default What is the Income tax percentage ?

Hi,

I heard that the income tax in Canada is higher than in US. This comes around 52% pm.
So, the saving potential is very low. Is it true ?

Regards
 
Old May 13th 2002, 11:20 pm
  #2  
Meg Lamont
Guest
 
Posts: n/a
Default Re: What is the Income tax percentage ?

Hi Vasanth,

I think we paid 31% tax last year on our taxes together. I used to live in the States
and I believe it's around the same tax bracket I was in there as well. When
everything washes out, it's about comprable to live in Canada. Factor in the
governement services such as healthcare, and it's very similar, if not cheaper. My
car insurance was less expensive from AAA in the States to CAA in Canada for example.
Since I live in the city of Ottawa, I don't pay for trash removal, which I did in the
states, 30 dollars a month.... Do yourself a favor, just don't look at the taxes,
it's an overall package.

Best of luck!

Meg "Vasanth Kumar K" <[email protected]> wrote in message
news:[email protected]...
    > Hi,
    >
    > I heard that the income tax in Canada is higher than in US. This comes around 52%
    > pm. So, the saving potential is very low. Is it true ?
    >
    > Regards
 
Old May 14th 2002, 3:20 am
  #3  
Ssharpe
Guest
 
Posts: n/a
Default Re: What is the Income tax percentage ?

<from Meg Lamont>
    > month.... Do yourself a favor, just don't look at the taxes, it's an
overall
    > package.

I agree completely. While I noticed a huge difference in the amount of sales tax and
income tax (the income tax difference due mostly to items I was able to deduct in the
States that I am not allowed to deduct in Canada), the overall standard of living is
much better. You have to look at the total package. To me, having a little less
disposable income is well worth the difference in the standard of living that my
children and I are experiencing here.

Just adding my two cents....

Shelley

TESTTESTTEST--== Posted via Newsgroups.Com - Uncensored Usenet News ==TESTTESTTEST-

TEST--= Over 100,000 Newsgroups - Ulimited Fast Downloads - 19 Servers =TEST--
 
Old May 14th 2002, 1:20 pm
  #4  
Stephen C. Gall
Guest
 
Posts: n/a
Default Re: What is the Income tax percentage ?

"Vasanth Kumar K" <[email protected]> wrote in message
news:[email protected]...
    > Hi,
    >
    > I heard that the income tax in Canada is higher than in US. This comes around 52%
    > pm. So, the saving potential is very low. Is it true ?

It depends on the province, and the amount of income. If you can tell us which
province, and for what income someone can give you a better idea of what percentage.

Stephen
 
Old May 14th 2002, 1:20 pm
  #5  
Stephen C. Gall
Guest
 
Posts: n/a
Default Re: What is the Income tax percentage ?

    > I heard that the income tax in Canada is higher than in US. This comes around 52%
    > pm. So, the saving potential is very low. Is it true ?

Last year, I paid an average income tax rate of 22%, with a marginal tax rate of 43%.
That was in Ontario.

Stephen Gallagher
 
Old May 14th 2002, 2:20 pm
  #6  
Andrew Miller
Guest
 
Posts: n/a
Default Re: What is the Income tax percentage ?

Go here:

http://www.ey.com/GLOBAL/gcr.nsf/Can...lators_taxcalc

and calculate your real total tax payable yourself - the real tax will be lower than
marginal tax rate or a maximum tax rate due to various tax brackets and standard
deductions.

--

../..

Andrew Miller Immigration Consultant Vancouver, British Columbia email:
millercicanada.com (delete REMOVE and INVALID from the above address before
sending email)
________________________________

"Vasanth Kumar K" <[email protected]> wrote in message
news:[email protected]...
    > Hi,
    >
    > I heard that the income tax in Canada is higher than in US. This comes around 52%
    > pm. So, the saving potential is very low. Is it true ?
    >
    > Regards
 

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Manage Preferences Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.