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Note that tax brackets have significantly lower bounds than in the US. For example, an individual making 90k here (Quebec) would be have an income tax rate of a

by jfim 12y ago

Note that tax brackets have significantly lower bounds than in the US. For example, an individual making 90k here (Quebec) would be have an income tax rate of about 50%, on top of a 15% sales tax. This is likely to be significantly lower in other provinces, though. Also, with regards to tax consequences, the RRSP system is a bit different than the US IRA and 401(k) system. From speaking informally with an accountant in the US, it seems to combine the benefits of both programs, with the intent of encouraging retirement savings.

fleitz 12y ago
Yes, quebec is ridiculous, but you're only paying 30% in total deductions rather than 50%, total taxation would probably be about 50% in Quebec. This is a good page for figuring out actual tax rates in Canada. http://www.ey.com/ca/en/services/tax/tax-calculators-2014-personal-tax http://www.ey.com/ca/en/services/tax/tax-calculators-2014-pe... I was speaking more towards corp tax rates which are 19% in Vancouver, personal taxes are bit higher in Canada, but probably cheaper once you factor medical.