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The average tax rate for a single person making 250K in Sunnyvale is 32.93% [1] The average tax rate for a single person making 250K in Ontario is 39.80% [2]
by amf12 7y ago
The average tax rate for a single person making 250K in Sunnyvale is 32.93% [1]
The average tax rate for a single person making 250K in Ontario is 39.80% [2]
But with the extra taxes you also get some better benefits like healthcare, cheaper education. Of course if your main goal is to save as much money as you can, then it probably better in the US because you earn more salary and USD converts better into other currencies.
[1] https://smartasset.com/taxes/income-taxes#I4RNWQ9WYm https://smartasset.com/taxes/income-taxes#I4RNWQ9WYm
[2] https://simpletax.ca/calculator https://simpletax.ca/calculator
- frockington1 7y agoThe parent was discussing max tax rate. As a software dev you would presumably be much close to the max rate than the average (at least in the US)
- tta 7y agoYou appear to be misunderstanding the definition of "average" in this context. The first ~50k of your income is taxed at ~20%, the next ~50k is taxed at ~30%, and so on. The average of these percentages gets you to a ~39% average tax rate for 250k income. Here's a detailed example (grep for "Average tax rate"): https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-2/5.html https://www.canada.ca/en/financial-consumer-agency/services/...
- frockington1 7y agoAh you're right, reading comprehension was not high there on my part