Hi all,
I have a chance to both retire (at a later date) in Canada and get Canadian PR. I'm applying for the PR soon. I taught at a university and internationally for a number of years, so a Canadian university is making it a bit easy for me to do some part time lecturing and teaching at the same time while working on my PR application. I like Canada, and appreciate the more relaxed lifestyle.
I'm having second thoughts. however. I have a nice personal retirement plan already that is taxed only on the earnings. If I lived in the States, my retirement income taxable would maybe be only 7 or 8%. I've heard some stories that retirement income can be taxed as high as 30% as a single person. Is that correct?
There is also the possibility that I might get married with a woman who works at the same school as I do, and she's Canadian. We could live in the States, and she might work on her US green card. However, we both prefer Canada. Is there quite a tax break for married couples in Canada? How does that work?
The part about Canada I like is the free health care, however slow. But if the 2 of us lived in the States, we'd pay less taxes and perhaps need to but our own health care. Are there any of you out there that actually are Americans retired in Canada? Do you ever have any regrets?
Regards,
Rob
I have a chance to both retire (at a later date) in Canada and get Canadian PR. I'm applying for the PR soon. I taught at a university and internationally for a number of years, so a Canadian university is making it a bit easy for me to do some part time lecturing and teaching at the same time while working on my PR application. I like Canada, and appreciate the more relaxed lifestyle.
I'm having second thoughts. however. I have a nice personal retirement plan already that is taxed only on the earnings. If I lived in the States, my retirement income taxable would maybe be only 7 or 8%. I've heard some stories that retirement income can be taxed as high as 30% as a single person. Is that correct?
There is also the possibility that I might get married with a woman who works at the same school as I do, and she's Canadian. We could live in the States, and she might work on her US green card. However, we both prefer Canada. Is there quite a tax break for married couples in Canada? How does that work?
The part about Canada I like is the free health care, however slow. But if the 2 of us lived in the States, we'd pay less taxes and perhaps need to but our own health care. Are there any of you out there that actually are Americans retired in Canada? Do you ever have any regrets?
Regards,
Rob