That included health care.
I also got paid $537 from the government for carbon tax rebate. Net win for me cause I try to watch my carbon footprint.
That included health care.
I also got paid $537 from the government for carbon tax rebate. Net win for me cause I try to watch my carbon footprint.
is that all tax you pay including vat etc
We don't have a VAT, but we have government sales tax (feds) at 5% and provincial sales tax (in my province) of 6%.
Sounds like you are winning at life despite making less than 100K canadian.
Wow, you figured out the difference between marginal and effective tax rates
By the way enjoy paying almost 40% on every additional dollar you earn
Free_the_thigh wrote:
By the way enjoy paying almost 40% on every additional dollar you earn
Well that is how taxation generally works. What is your point? If you are a flat taxer - good luck. And are you suggesting that there are other western jurisdictions with a significantly lower overall tax burden (taking into account things like health care, education, property tax, vehicle licensing, etc.?).
acanadianmaidian wrote:
That included health care.
I also got paid $537 from the government for carbon tax rebate. Net win for me cause I try to watch my carbon footprint.
Yeah...that's pretty good, and I think a fair amount.
My household income is decently higher than that, and we didn't pay what you did, though of course we had to pay for health insurance including deductibles and/or co-pays out of pocket.
askdljf;alsdkjf wrote:
Free_the_thigh wrote:
By the way enjoy paying almost 40% on every additional dollar you earn
Well that is how taxation generally works. What is your point? If you are a flat taxer - good luck. And are you suggesting that there are other western jurisdictions with a significantly lower overall tax burden (taking into account things like health care, education, property tax, vehicle licensing, etc.?).
My point is that you are just coming out of the low tax bracket and can expect to pay much higher taxes from here on out. In line with the topic of the thread saying Canadians aren’t heavily taxed.
Free_the_thigh wrote:
By the way enjoy paying almost 40% on every additional dollar you earn
Over C$200k, it is 53% (depending on your province)
But, you get healthcare, safer cities, safer roads, much less (gun) violence, better schools. With the Carbon Tax, gasoline is now ~US$5/gallon in British Columbia.
In general, salaries are higher in the US compared to Canada. But a number of other quality-of-life factors are decidedly better in Canada.
So there ya go....
Something to keep in mind. The Canadian dollar equals US $0.75 or it takes $1.33 Canadian dollars to equal US $1.00. Consider CAN$ 93,000 = US $69,750 and subsequent buying power.
Canadian Federal tax rates for 2018
15% on the first $47,630 of taxable income, plus
20.5% on the next $47,629 of taxable income up to $95,259, plus
26% on the next $52,408 of taxable income on the portion of taxable income over $95,259 up to $147,667, plus
29% on the next $62,704 of taxable income on the portion of taxable income over $147,667 up to $210,371, plus
33% of taxable income over $210,371
Provincial sales tax varies, GST ( goods and services tax = VAT) is 5% on everything onevpuchases.
So for example The province of British Columbia PST 7% + GST 5%. = 12% HST (harmonized sales tax). Harmonized... Canadians are so polite even when it comes to the government taxation that takes place.
As well BC’s provincial personal income tax is:
First $40,707 is taxed at 5.06%
$40,707 up to $81,416 taxed at 7.70%
Over $81,416 up to $93,476 taxed at 10.50%
Over $93,476 up to $113,506 taxed at 12.29%
Over $113,506 up to $153,900 taxed at 14.70%
Over $153,900 taxed at 16.80%
Gas at the pump is a tax ripoff. Gas in Vancouver BC is $1.589 per litre. It takes 3.785 litres to a gallon.
$1.589x3.785=$6.014/gallon = US$4.51/gallon
Get the picture. BC is governed by the NDP (New Democrat party). The NDP is socialist.
The young fools wanting to vote for the Far left Liberal social media enabled representatives and policies, get ready for the above.
You do the math on CAN $93,000
And what do you get for your tax bill BC vs WA/OR/CA? For an additional 2-3% more in BC, quite a bit
What are real estate taxes like in Canada?
That’s because you’ve been shafting us with NAFTA but the new USMCA will take care of that
For simplicity assume no deduction for RRSP (401k equivalent).
Federal income tax of $16,415.35
BC Provincial income tax of $6,410.68
CAN $93,000 - $22,826.03 (effective combined 25% tax rate) = $70,173.97 or US $52,630.48
Let’s assume living in Vancouver (which has one of the highest housing costs in the world) average home price of $1,027,515. Average price for a downtown condo is $1,345 per sq. Ft. So on a $93 k salery good luck ever owning a home or condo without big time down payment from Mom and Dad or significant other. Vancouver’s average rental price for a one bedroom condo is $2100 per month. Good luck finding a decent condo for that but for calculations sake:
$70,173.97-$25,200 = $44,973.97
Food, clothing, buying stuff, dining out in Vancouver is very expensive. If you own a car, the cost of operating it is way more than in the US. I would guess when combined with these costs and insurances you are looking at another $2,000 per month which leaves about $21,000 left over. The maximum RRSP contribution in 2018 was $26,230.
$93,000 in Vancouver isn’t much
Creative socialism wrote:
Something to keep in mind. The Canadian dollar equals US $0.75 or it takes $1.33 Canadian dollars to equal US $1.00.
Idiot. The CURRENT exchange rate is 1:1. It has been many years since it was 0.75:1.
Health care coverage is a huge benefit.
1=1 wrote:
Creative socialism wrote:
Something to keep in mind. The Canadian dollar equals US $0.75 or it takes $1.33 Canadian dollars to equal US $1.00.
Idiot. The CURRENT exchange rate is 1:1. It has been many years since it was 0.75:1.
I love facts provided by LRC posters..
https://www.google.com/search?q=canadian+dollar+vs+american+dollar+value&oq=can&aqs=chrome.3.69i57j69i60j69i61j69i59j69i60j69i59.4183j0j7&sourceid=chrome&ie=UTF-8The US is the wealthiest country in the world which means we have more spending power. The tax discussion is pointless. The US is warmer and still has less mosquitoes than Canada.
1=1 wrote:
Creative socialism wrote:
Something to keep in mind. The Canadian dollar equals US $0.75 or it takes $1.33 Canadian dollars to equal US $1.00.
Idiot. The CURRENT exchange rate is 1:1. It has been many years since it was 0.75:1.
There is no helping you.
Please do society a favor/favour - don’t vote and don’t reproduce.