You have requested the manner in which a “skilled worker” is taxed in Canada. In Canada, all residents are taxed on their world income using graduated rates, otherwise known as tax brackets. For example, in 2000, an individual will be taxed for federal purposes on his first $30,004 of income at a federal rate of 17%, and the next $30,004 at a rate of 26%. The highest federal rate in Canada for 2000 is 30.45%.In addition to federal income taxes, the individual will be subject to income tax in the province where he resides at the end of the year. Each province has a different manner of calculating their income tax and each has different rates and incentives available to residents. For an idea of the rates in Quebec and Ontario for 2000, please refer to our web site at:
http://www.richter.ca/en/ats.html
As to the question regarding the minimum income per month necessary to support a family of four, this question is complex as it depends on where you choose to reside and your lifestyle decisions.
Disclaimer:
The nature of this facility is to provide a general response to a general question. Under no circumstances should anyone act on this information without obtaining analysis and counsel from a qualified advisor with respect to the specific situation.
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Phillip Nadler, CA
Richter Usher & Vineberg
2 Place Alexis Nihon, Montreal, Quebec, H3Z 3C2
Phone (514) 934-8672 Fax (514) 934-3408
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