Is it true or more underrated & overlooked

[Haiderzaidi]

Hi there seniors,

I have inquired the pay rate of Canada with couple of contacts here & there, they always come up with mutal econimic senario, for having a low pay rate & its kinda hand to mouth. How true is that?

 

[aashay12]

if you have a job back in where you are from and well established
dont even look to come here, you are wasting your time.
every dollar you earn you have to pay federal, employment insurance, pension taxes.
in ontario you pay 13% sales tax, may be food is little less.
Its a great place if you are making less than 80,000 with kids and family
terrible place if you want to make more than 100,000 or more.

 

[Haiderzaidi]

if you have a job back in where you are from and well established
dont even look to come here, you are wasting your time.
every dollar you earn you have to pay federal, employment insurance, pension taxes.
in ontario you pay 13% sales tax, may be food is little less.
Its a great place if you are making less than 80,000 with kids and family
terrible place if you want to make more than 100,000 or more.

Thanks Aashey, So how do you mean? What if some owns a business of course not a multi million dollar one but somewhat a good one.?

 

[aashay12]

dont know that much.....about millions....but the tax structure punished who make more than 100000 rather than rewards them
in US its the other way around.

 

[Haiderzaidi]

Firslty are you saying earning $80,000 per anum or per month?

Is its a year, is it enough or it still leave hand to mouth ?

 

[aashay12]

80,000 is living a decent life a year
hand to mouth is 40,000 a year
but you have a busniess/job and making more than 100,000 then you are gonna pay a lot of taxes
to goverment.
The benefits from goverment are only good till you make a certain amount around 80k after that
if you are making more then you feel you are helping the poor, needy, refugees, disabled coz the taxes are a death.
Its a queen country and no queen country have trillion dollar companies like america does

 

[Haiderzaidi]

80,000 is living a decent life a year
hand to mouth is 40,000 a year
but you have a busniess/job and making more than 100,000 then you are gonna pay a lot of taxes
to goverment.
The benefits from goverment are only good till you make a certain amount around 80k after that
if you are making more then you feel you are helping the poor, needy, refugees, disabled coz the taxes are a death.
Its a queen country and no queen country have trillion dollar companies like america does

Sorry for bothering you again. Does business normally make $80,000 a year.. such as 7 11, fuel station, fast food franchise. automotive franchise i.e.. mechanical workshop, spare parts etc.

Do you mind if i add you in buddy list?

 

[aashay12]

80,000 is a bad figure for any business, it should be atleast 250k and above.

 

[aashay12]

buddy, i just came to canada a week ago
again, i base my understandings on the US, since both are very similar.
i lived in US for a long time....
so dont quote me on things are gonna be 100 accurate.
you better ask who has been here for atleast 2-3 years.
i dont want to mislead you.

 

[jazibkg]

Haider, people refer to income in 'per annum' basis in almost all western countries. Nobody talks about 'monthly incomes'. Whenever someone mentions an income amount, it is assumed to be an annual one.

As for the tax system, its called a 'progressive' tax system where the more you earn, the more you pay.

At first the tax may seem overburdening, but keep in mind there are a lot of tax credits you can avail at the time of filing a tax return after completing a year or part-year of residency in Canada.

People who make the excuse of living 'hand-to-mouth' do so because they don't keep their expenses in check. They pay a high rate of insurance on their car, they have financed or leased their cars and make payments on them, they tend to shop the latest gadgets and dine out frequently, they buy their furniture on credit...then they phone back home and tell their relatives how they're living 'hand to mouth'.

I earn 12% less than $40,000 annum before taxes and deductions, and I don't live hand to mouth. I support my siblings, myself and my parents. I go out to eat and visit the US from time to time. I enjoy dining out, going to concerts of my favourite bands, travelling to spots and cross the border. What I don't do is shop for unnecessary luxuries or drive a car. What I do is live in a cheaper area and use transit.

$40,000/annum is not hand to mouth. Anyone saying anything differently has no idea how to budget their income and make the most out of their money. However, most white collar jobs in Canada are kind of underpaid whilst blue collar jobs are overpaid. They like to maintain equality of income here, its not a capitalist economy like the USA.

 

[Haiderzaidi]

Jazibkg,

Mate thanks heaps. I currently live in Australia even its norammly referred to Per anum.. since there are people for South Asian locations where income are pretty much based monthy & have seen posts for monthly bases. Yet thanks again.


Indeed you are right it merely depends on you maintain your cash flow. the more dearer products you get the more likely to end up paying. By profession I am an accountant & had been practising it from past 3 years on part time bases due to some family commitments that has unabled me to work full time. I yet have sight to get into an accounting practises. Of course considerin need to get a hang of the candaian native tax system & other basic terminologies though I doubt it wont be much surprizing.

Do you mind if i ask, what your normally do, own a business or work in a profession?

Thanks again mate for uplifting my plans

 

[jazibkg]

Why exactly would you want to leave Australia to come to Canada? However, if you have an australian accounting qualification recognized by CPA Canada, you'll have an easier time converting your qualifications to Canadian equivalence.

I'm a part-qualified accountant, running the billing department of a company here. Yet to get my big break into an accounting firm, which I want to do, so working a bit towards

 

[Haiderzaidi]

Why exactly would you want to leave Australia to come to Canada? However, if you have an australian accounting qualification recognized by CPA Canada, you'll have an easier time converting your qualifications to Canadian equivalence.

I'm a part-qualified accountant, running the billing department of a company here. Yet to get my big break into an accounting firm, which I want to do, so working a bit towards

Jazibkg,

The reason I am moving from Aus to Canada mainly is due to my parents. I m not permanent resident here. Few years back I came as a Student, earned Bach Degree in Accounting. Residency program in Aus is approachable but as I said I have dependent parents & Australia does'nt facilitate much with parents visa. Therefore I planned ot move to Canada. By profession I am Accountant (working Part time from 2012) & my spouse is an Internationl Dentist ( She need to follow up with the licensure program in Canada in order to be recognised as dentist in Canada)

As far as CPA Canada is concerned, I haven't checked with them but my studies are approved/recognised from the Accounting board/regulation of Canada as it was mandatory to be done before applying for a Permanent residency. Fingers cross for my beark in canadian corporate world. Of course not carrying any massive dream of sitting in an office the next day i arrive but hoping for the best.

Good to hear that we are realted to the sam field. Would liek to advise me anythign in regards? When you say billing dept. is that kind of Accounts recievables? in Australia Accountings jobs are in diffrent form, Accounts Recievables, payables & Payroll. I am well experienced on MYOB & Quickbooks. I heard Canada is more on to the Quickbooks?

 

[shootingstar]

dont know that much.....about millions....but the tax structure punished who make more than 100000 rather than rewards them
in US its the other way around.

IT is the same in the US too. The more you earn, the more is the tax ( lived 8 years in the US).

 

[aashay12]

the more you earn the more tax is right
but there are so many deductions you can you as you spend
i donated clothes to salvation army about 480 dollars worth (i dont pay tax on 480)
health insurance, car insurance, car repairs, mortgage(interest) can be expensed and
there is no tax on that income spent. So unsure if canada has that but you definately
pay more taxes but there are benefits when you spend.
Ontario has 13% tax, NYC or Chicago around 9% tax.
Gas is cheaper $3.29 for 3.78 liters(gallon) in Chicago, suburbs about $2.99.
Ontario was 4.50 per gallon atleast toronto.
Canada feels more expensive because of its general food products and daily life is expensive, plus high taxes.