superdave
Recycles dryer sheets
This came my way last week. Interesting read. We live in Nova Scotia, the Canadian province with the highest taxes in Canada... and North America...
Perhaps its time to move
"An interesting read from the National Post that I thought I would share. Simply a report from the Fraser Institute (an economic "think tank") that studied what a "typical" Canadian family pays in taxes. For some comparison, I assumed a single Nova Scotian who earns $100k per year. Lives in a $400k tax assessed home, saves $10k per year and spends $500 per month on food (which we assume is non-taxable). Let's see what they would pay in tax.
Income tax $29,949 (from the Ernst&Young 2016 tax calculator)
CPP $2,549 (double this if the individual is self-employed)
EI $955
Property Tax $5,400 (assumes a 1.35 mil rate)
Consumption tax (HST/GST) $7,672 (After tax income-savings-food-property tax * 15% HST rate)
Total ~ $46,525
A lot? Perhaps, but we have to admit, we do live in a pretty decent country where people tend to care about each other J. Putting some context around it, if you were uninsured (health) in the US and had a simple leg fracture. Costhelper.com reports that the cost to treat this at a US hospital would be ~ $16k (USD). Imagine what something more serious would cost."
Perhaps its time to move
"An interesting read from the National Post that I thought I would share. Simply a report from the Fraser Institute (an economic "think tank") that studied what a "typical" Canadian family pays in taxes. For some comparison, I assumed a single Nova Scotian who earns $100k per year. Lives in a $400k tax assessed home, saves $10k per year and spends $500 per month on food (which we assume is non-taxable). Let's see what they would pay in tax.
Income tax $29,949 (from the Ernst&Young 2016 tax calculator)
CPP $2,549 (double this if the individual is self-employed)
EI $955
Property Tax $5,400 (assumes a 1.35 mil rate)
Consumption tax (HST/GST) $7,672 (After tax income-savings-food-property tax * 15% HST rate)
Total ~ $46,525
A lot? Perhaps, but we have to admit, we do live in a pretty decent country where people tend to care about each other J. Putting some context around it, if you were uninsured (health) in the US and had a simple leg fracture. Costhelper.com reports that the cost to treat this at a US hospital would be ~ $16k (USD). Imagine what something more serious would cost."