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I mentioned in another post that I am a big proponent of moving to Canada, but I have my eyes wide open. Canadian salaries do not even come close. Also, I have
by dmode 6y ago
I mentioned in another post that I am a big proponent of moving to Canada, but I have my eyes wide open. Canadian salaries do not even come close. Also, I have filed taxes in CA for 12 straight years. The tax burden gets diluted by a lot of different factors like deductions, mortgage deductions, tax credits etc. In 2018, I took my total $$$ paid to Fed + CA and divided over total income and effective rate was only 28%. The top rate in CA is 9% which is a progressive rate. Effective rate is actually close to a flat 5%
- bhk 6y agoThe top rate in California is 13.3%
- jogjayr 6y ago> mortgage deductions, Agreed. This is a huge tax break. > In 2018, I took my total $$$ paid to Fed + CA and divided over total income and effective rate was only 28% Do you mind plugging in the same income to https://simpletax.ca/calculator https://simpletax.ca/calculator for Ontario, use $26500 of RRSP deduction and see your effective rate? In this comment (https://news.ycombinator.com/item?id=23618074 https://news.ycombinator.com/item?id=23618074) I showed that an income with 30% effective rate in California has a 35% effective rate in Ontario. Higher? Yes. A lot higher? IMO, no.