Here’s how my HR payroll slip breaks down: Fed Tax: 24.5% EI Premium: 1.73% CPP Canada Pension Plan : 4.73% Total: 30% of my pay is deducted right at source. I’d be very keen in hearing from people all across the board: NY/TO/LDN/SF/etc
well seeing as how the top combined federal and provincial marginal rate is 46.41% in Ontario you should be aware you will only lose more as you gain experience…although they just increased our tax credits a bit, yay for us.
That’s exactly what I want to be avoiding. Anyways, I’m interested in tax figures for people working in other jurisdictions…this will certainly be one of the considerations when moving.
London … Tax ~27% National Insurance ~7%
Etienne, what’s the maximum tax bracket in London ? BTW, this is surprising, I thought London would have lower taxes than Canada !!
charlesg Wrote: ------------------------------------------------------- > Etienne, what’s the maximum tax bracket in London > ? BTW, this is surprising, I thought London would > have lower taxes than Canada !! 40% no tax on income owned from foreign sources, remember they dont have provincial taxes in the UK.
charlesg Wrote: ------------------------------------------------------- > Etienne, what’s the maximum tax bracket in London > ? BTW, this is surprising, I thought London would > have lower taxes than Canada !! SeanC is right. From Apr 2008, it works out something like 0% on your first £5K, then 20% on your next £35K, then 40% above £40K. You pay National Insurance, but that is not a progressive tax insofar as you don’t pay 2x as much if you earn 2x as much as someone else (I like those kinds of taxes!). He’s also right in saying that we don’t have provincial taxes, but you typically pay about £1000-£2000 a year in council tax (for road maintenance, refuse collection etc.). And having just returned from 10 days skiing in Whistler, I can tell you that life is certainly more expensive in London.
13% income tax rate. No other deductions of any kind whatsoever.
4.5% - Total payroll deductions. The rest is mine BABY! Loving the offshore life.
45% total deductions. Money goes to government to fund useless wars.
PMWannaB don’t you have to file Income Taxes in the US even if you work offshore ?