How much is the annual income?
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Look at the Personal Tax Freedom Day Calculator on www.fraserinstitute.org to see how much of the above annual incomes you might be permitted to keep!
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Wow, the income tax your calculator puts out are huge. Are you sure the numbers are right. Here is a different one I found, why are the figures so different?
http://www.tax-services.ca/personal-tax.html
http://www.tax-services.ca/personal-tax.html
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Income tax is but one part of the total financial impositions of all levels of government in Canada, as in most other countries. I suggest you read the background information provided by the Fraser Institute. This think-tank includes everything a Canadian has to pay to all levels of Government during the year. It does not matter whether it is an up front tax, whether it is a hidden add-on, or what it is called.
Apart from federal and provincial income taxes, governments impose all sorts of other taxes under different names such as levy, fine, impost, duty, fee, royalty, subscription, rate, charge, excise, etc. It obviously works its way back to the ordinary citizen one way or another and it all comes out of Johnny Canuck's pocket. Thanks to the Fraser Institute for calculating what this all adds up to.
Do a Google search and take a look at Tax Freedom Day for some other countries. Remembering that the American Revolution was caused by a 3% tax it is interesting to see what the dumb masses in many countries now willingly pay!
Apart from federal and provincial income taxes, governments impose all sorts of other taxes under different names such as levy, fine, impost, duty, fee, royalty, subscription, rate, charge, excise, etc. It obviously works its way back to the ordinary citizen one way or another and it all comes out of Johnny Canuck's pocket. Thanks to the Fraser Institute for calculating what this all adds up to.
Do a Google search and take a look at Tax Freedom Day for some other countries. Remembering that the American Revolution was caused by a 3% tax it is interesting to see what the dumb masses in many countries now willingly pay!
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LOL...Dumb masses is right. Thats what we canucks are for paying the tax we do.... our tax system maxes out at about 45% at about 80 grand a year. In the States it maxes out at something like 250 grand. I want to know why!!! And why can they deduct their mortgage interest and we cant!!! Dont give me excuses about Canada having so many GREAT social services....you cant tell me our countries bills are bigger than the US. ..
We are Lemmings!!!!!!
We are Lemmings!!!!!!
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Universal health care is one of he reasons, in US a good insurance will cut a big chunk of you income (specially if you have a family).
Conservative are against mortgage deduction, Liberal did a lot of promises but at the end, lost the elections. Most of Canadians don't vote and are not interested to ear about these issues, that is another reason...
I don't know in US but here in Canada, we have to pay taxes for all those people that are not!!! some categories like waiters, plumbers, construction workers of many kinds, pipe fitters, etc. are working for cash!!!
We cannot evade because they take the taxes out before we see the check!!!
One solution? make all these activities deductible for everybody! that would be in a perfect world!
Conservative are against mortgage deduction, Liberal did a lot of promises but at the end, lost the elections. Most of Canadians don't vote and are not interested to ear about these issues, that is another reason...
I don't know in US but here in Canada, we have to pay taxes for all those people that are not!!! some categories like waiters, plumbers, construction workers of many kinds, pipe fitters, etc. are working for cash!!!
We cannot evade because they take the taxes out before we see the check!!!
One solution? make all these activities deductible for everybody! that would be in a perfect world!
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mortgage costs not deductable but capital gain is not taxable either in Canada. In Us, mortgage costs are deductable but you will pay taxes on capital gains when you sell your home.
Last edited by clevlandHD; 23rd Jan 2008 at 16:51.
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One good thing about our profession is that we can seek work outside of canada. It's a nice option to have. Leaving your home country is not for everyone, but at least you have the choice!! Happy flying
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Doo
The new rules are unlikely to affect a Canadian taxpayer since the marginal tax rates are higher in Canada to start with. Any Canadian pilots in the UK working for a Canadian company, and getting taxed at source will most likely be unaffected due to double taxation treaties. If they do get asked to file a UK tax return they would most likely receive a refund.
The new rules are meant to grab cash from UK sourced income, that is untaxed due to non-resident/non-domicile rules.
Ciao
Muddy
The new rules are unlikely to affect a Canadian taxpayer since the marginal tax rates are higher in Canada to start with. Any Canadian pilots in the UK working for a Canadian company, and getting taxed at source will most likely be unaffected due to double taxation treaties. If they do get asked to file a UK tax return they would most likely receive a refund.
The new rules are meant to grab cash from UK sourced income, that is untaxed due to non-resident/non-domicile rules.
Ciao
Muddy
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"Universal health care is one of he reasons, in US a good insurance will cut a big chunk of you income (specially if you have a family)."
I would rather pay the insurance and get better service. I have gone to the doctor (in Canada) twice over the past four years (other than aircrew medicals). Waited 2 hours both times. First time, the doc couldn't diagnose the problem, I quickly pulled out the info I got from the internet and helped her out. The second time I told the doc "it hurts when I do this"...she literally told me "Ok, well don't do that" (no joke, I am not kidding).
It's true what they say - somebody has to come at the bottom of the class. I think most of these folks in the medical field stay in Canada.
I would rather pay the insurance and get better service. I have gone to the doctor (in Canada) twice over the past four years (other than aircrew medicals). Waited 2 hours both times. First time, the doc couldn't diagnose the problem, I quickly pulled out the info I got from the internet and helped her out. The second time I told the doc "it hurts when I do this"...she literally told me "Ok, well don't do that" (no joke, I am not kidding).
It's true what they say - somebody has to come at the bottom of the class. I think most of these folks in the medical field stay in Canada.
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Auroradude, i agree 100% with you.... i had veryyyyyyy bad experiences in Canadian hospital. My pregnant wife was bleeding and i brought her to an hospital. I waited 4 hours and when i finally saw a doctor, they told me that the ultrasound tech finish to work at 5pm!!!!! and there was nothing they could do. The next day i went to the hospital at noon and again could not pass until after 5!!!!!! the 3rd day, after waiting another 4 hours, my wife had a miscarriage in the waiting room!!!!!!!!!!!!!!!!!!!!!
I have another couple of bad stories...
I didn't mean that the universal health care in Canada is good, just that takes a big chunk of our taxes...
Ciao
I have another couple of bad stories...
I didn't mean that the universal health care in Canada is good, just that takes a big chunk of our taxes...
Ciao
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23rd January 2008 12:39clevlandHDmortgage costs not deductable but capital gain is not taxable either in Canada. In Us, mortgage costs are deductable but you will pay taxes on capital gains when you sell your home
Hey ClevlandHD - True, but in the US depending on if you're single or married, if you sell your house (primary residence) either the first $250k or $500k of capital gains is tax exempt.
Out of curiosity, how much are AC/WJ/Transat, and other pilots bringing home each year? I know AirlinePilotCentral has some #'s up there, but they don't reflect some of the adjustments or ways to benefit from the work rules there, overtime, trip/duty rigs, and what perdiem will tack on to that, etc.... Are first year AC pilots bringing home exactly $37k, or does it tend to be a bit more? Do WJ guys bring in $40k, or is it a bit more.
Thanks to anyone who can provide answers.
jt
Hey ClevlandHD - True, but in the US depending on if you're single or married, if you sell your house (primary residence) either the first $250k or $500k of capital gains is tax exempt.
Out of curiosity, how much are AC/WJ/Transat, and other pilots bringing home each year? I know AirlinePilotCentral has some #'s up there, but they don't reflect some of the adjustments or ways to benefit from the work rules there, overtime, trip/duty rigs, and what perdiem will tack on to that, etc.... Are first year AC pilots bringing home exactly $37k, or does it tend to be a bit more? Do WJ guys bring in $40k, or is it a bit more.
Thanks to anyone who can provide answers.
jt
Last edited by JTrain; 25th Jan 2008 at 23:13.
