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| *The Commerce Journal>>>Canada Taxes |
Comparing pay check to pay cheque. How much money is deducted from your pay check in Canada compared to USA? |
Example : If I made $500.00 per week in Canada how much goes for taxes, insurance healthcare etc. People say that you pay more taxes in Canada because of the healthcare system. I wonder if that is true? Disregard the exchange rate, we'll not consider that being much different. I know here in the USA you can expect to pay nearly 20-25% of your check in taxes. Then you have to pay for deductables and co-insurance and then the insurance co. still only pays up to 80% if your lucky after you pay an out of pocket amount of $1000.00 to $2500.00 depending on what insurance co. and plan you have. Please let me know as much detail as possible. Thanks Actually CRA has a calculator, but you should know that each province has a different rate of provincial tax. Here is the caculator: http://www.cra-arc.gc.ca/eservices/tax/b... I would suspect that each state also has its own rate of tax, so it might not be that easy to make a comparison. |
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