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Oh wow. That's downright European.
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The prices for clothes are even falling down slightly! It's a great surprise as I know that Canadian people mostly wear branded clothes. So, when I look at the prices foor branded clothes in India, I can see that their prices haven't risen too much much over the last 20 years for sure. I think the most probable reason is a rise in competition in the sector.
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I also saw a video on that same topic... where they made reference to the percentage of difference between what they pay in taxes and what a Canadian citizen can spend on food or clothing... and the difference is quite a bit... I imagine and I hope it is So it has its benefits and is not like in other countries where you even pay for the air you breathe and the services to citizens are of no use... I live in Peru and it is a clear example of that and even more so if you are a migrant like me you pay a lot further!!
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I have a good strategy for avoiding high taxes in Canada. Don’t have an income!
Boom. Take that Trudeau.
And that’s precisely what excessive taxation incentivizes. Fortunately for Trudeau he has made the cost of housing, food and energy also skyrocket so very few people can utilize my strategy and survive.
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That's an utterly brilliant strategy. I'm still trying to figure out how to pull it off.
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I do actually have some income. I still get some commissions from the business I sold for a couple accounts I helped to bring in and managed after we finalized the sale. It's just not enough to meet the minimum income threshold to pay income taxes.
This is not my game, but some people play it, if you are shrewd enough you can probably earn 40k-50k as a household (dual earner) through a business where you can write a bunch of stuff off and still get under the dual earner threshold for income tax (around 27k) and qualify for a bunch of low income earner benefits for the government, especially if you have kids. You could feasibly between your salaries and benefits earn up to 70k as a household without paying any tax. But if you are an individual earner with no kids and only employment income you would pay around 17k in taxes on 70k.
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Plus some off-book income, allegedly.
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Yes a lot of people in Canada love working for cash. I used to get requests for cash all the time in my business.
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People in the US also like working with cash, especially people that dont want to pay taxes.
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How could a country like Canada with a myriad of natural resources and good people get itself into this mess?
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oef! The lesson of government freebies not being free on display
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30 sats \ 0 replies \ @TomK 10 Aug
Canada could very well be a member of the European Union with these figures!
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Everything has gone up. But taxes have gone up so much since the 70s. Y2K has been bad in general.
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You have to wonder how much those other things would have gone up, if not for the taxes on those producers.
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Im surprised cloths hasnt gone up much.
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My hunch is that it's because that industry relies so heavily on imports from poor countries.
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Probably right. Im just surprised taxes went up so much. Must be because the national healthcare.
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The question is, if you are a young buck in Canada right now, what is keeping you there? You can have a better quality of life pretty much anywhere in central/south america or southeast asia?
The one thing I do agree with is family - it is definitely hard to leave family behind.
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For the most part, Canadians can just move a few miles south and greatly improve their quality of life.
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An armed robbery, they seem to be taxes from southern Europe
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And so it begins...
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WTF! Almost 50k in taxes!! How are Canadians even coping with this? Do you guys get salaries in 100k plus column?
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i believe is because Canada has a progressive tax system, which means higher earners pay a larger percentage of their income in taxes.
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same in many western countries. It's to punish people for having the audacity of bettering themselves
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I think the US has a similar system.
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