Canadian Taxation System Sucks !!!!
I was happy to receive a bonus, before i find out that 55% percent is gone to Taxes !!!! We're talking thounsands of much needed dollars to fund an ever increasing cost of living.
Damn it, this is insane....brutal, unfair and sickening !!! I'm sick and tired of subsidising the system, which mind you, is not a good shape either.
The reason i was given? your salary is in the 6 digit range...so we all take a bite out of it.
F*** off...
posted by Napo at
12:47 PM
6 Comments:
It won't be that different in the US. For that kind of salary, federal bracket will be between 33% to 35%, add another 11% for state (CA here), medicare, social security and other and you end up near 50%.
Hey, remember paying a lot of taxes is a good problem because it means you're earning a lot too :-)
In the US, buying a house with a mortgage,401 k plans, college funds for the kids, IRA,flex spending and having kids help a lot with tax. I don't know about Canada though
samsoum, i worked in the US back in 98 for a couple of years, their taxation schema is fair compared to Canada which is second to Sweden when it comes to Tax grab.
The US model is based on capital and wealth, it does not promote social justice (politically correct word for 'subsidy'). Yes we have universal healthcare, but it's crumbling and only servers the seniors, by the time we need it, it will probably be gone.
We do have the equivalent of 401ks here, called RRSP. But mortagage payments are not tax deductible unfortunately, and for everything else, if we receive an allowance it's taxable too.
I don't mind paying taxes, i do mind however when i c myself working 5 months for free on a 12month period.
Hassilou, just venting !
Izzakat est seulement 2.5 pourcent, donc n'oublies pas de la "payer" aussi...
that's why I will never intend to work in Canada. Maybe after bachelor for a while, but not after master or PhD or with a family.
I thibk taxes are really really high. Also, health care system kind of sucks, long hours...
I think It's hard to have assets in Canada. If taxes were lower, maybe investment made people with six figure income will be higher, and stimulate the economy.
Also, as you said, mortgage is not taxe deductable, and that really sucks.
Anyway, i think a longer post is required for this, but all I can say 55% is damn a lot.
Between, how much is taxes in tunisia?
@anon, je fais mon devoir hamdullah et rabbi ytkabbel.
@zied, you got it all right. As for investment, i think if we barely make the minimum RRSP contribution per year, we're lucky. Beyond that it's too difficult. Investment is for the institutions, not the individuals, except the 7 figure earners :-)
Tax in tunisia is capped at 35%, but who pays that ? anyone who approaches a high income, starts his own business (consulting) and goes underground.
Wawo Napo, wallit ta7ki bel "f*** off " inti zeda, mmm...:p
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