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I'm looking to emigrate to Canada, particularly BC or Alberta. What is the tax situation in Canada? I've found personal income tax rates for the province but is there anything further the government wants? A federal tax? Provincial healthcare contribution? Secondly, what does the provincial healthcare actually cover? I'm self-employed so I'll be looking to get private insurance anyway, but what are the basics? If I get hit by a car or mauled by a bear, am I liable for 100%? Thanks! 
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May 24, 2014 15:32
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| # ? Apr 27, 2024 11:47 |
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In BC, you can expect a mandatory $70/month for provincial healthcare. In Alberta it's free. Government healthcare doesn't cover ambulances or prescriptions - if you were hit by a car of mauled by a bear you'd be responsible for the ambulance bill to the hospital, and any prescriptions once you were discharged. The actual hospital care is covered.
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May 24, 2014 18:46
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Thanks for the reply. I'm currently paying $650 US a month for mandatory health insurance in Japan, so I like the look of $70/m a lot.
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May 24, 2014 19:05
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Being self-employed changes the tax situation depending on a lot of factors. Income taxes in BC are lower unless you are earning ~$140k/year or more because of Alberta's ridiculous flat tax. That said sales tax in Alberta is 0%, fuel is cheaper, car insurance is cheaper, so it usually works out cheaper in AB for those reasons. Private (extended benefits) healthcare will supplement the public healthcare, and can cover dental, prescription drugs, ambulances, etc, but as a self-employed individual you are probably looking at a higher cost for that. If you end up with a chronic disease and have high prescription costs eventually the provincial plans will start picking up the bill, so extended benefits usually limit their coverage to the portion not covered by the province.
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May 28, 2014 19:39
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I've lived in BC my whole life and am self employed, and I don't have extended medical because what the province charges and pays for is completely fine, and I regularly partake in the high risk sport of ski racing (I've been to the hospital for injuries four times in the last year alone!). Maybe if I had enormous dental problems, but now I just pay for my contact lenses and any dental appointments out of pocket. Taxes are really not that much different when you're self employed. The main thing to consider is if you want/qualify for EI you need to sign up for the program, and you'll pay your entire year's worth of premiums on your taxes (I think it maxes out around $4000, and is based on your income) and CPP contributions, for which you have to pay the entire employer portion and employee portion since you're technically both. That one makes out around 5k, it's around 10% of your income up until that point (5% for the employee, 5% for the employer).
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May 28, 2014 23:01
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I've been in an ambulance several times and never charged(in BC), so I assume that there is some minimum amount you have to make before you have to pay. There are federal taxes as well, you can find information you need on the canada revenue agency website.
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May 29, 2014 06:52
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Tsyni posted:I've been in an ambulance several times and never charged(in BC), so I assume that there is some minimum amount you have to make before you have to pay. There are federal taxes as well, you can find information you need on the canada revenue agency website. It depends a lot on the circumstances as to whether or not you'll get dinged with an ambulance bill. Friend of mine got into a car accident, had an ambulance called he didn't need that didn't take him to the hospital and got charged for it. I came to in the ER after a seizure with no idea wtf happened, left and did not get charged because I was too out of it to provide them the right information.
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May 29, 2014 19:41
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Thanks for all the information. You've actually above and beyond and a little too focused on healthcare, my most pressing question was whether there is a federal or provincial tax beyond the personal income tax? Currently I live in Japan where I pay 20% income, 10% prefectural to separate agencies, and then health insurance beyond that (oh, and as a self-employed a 5% retroactive tax on income two years previous, which is why I want to get the gently caress out of here). Do I get one bill on income alone in Canada, or two, or three? Or property tax? loving bureaucracy.
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May 29, 2014 20:05
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Eau de MacGowan posted:Thanks for all the information. You've actually above and beyond and a little too focused on healthcare, my most pressing question was whether there is a federal or provincial tax beyond the personal income tax? Currently I live in Japan where I pay 20% income, 10% prefectural to separate agencies, and then health insurance beyond that (oh, and as a self-employed a 5% retroactive tax on income two years previous, which is why I want to get the gently caress out of here). Do I get one bill on income alone in Canada, or two, or three? It's effectively "one bill" for income tax, since you'll do all your income taxes at the same time and send it to the same place. There are also property (land) taxes that are separate, yes. Here are the federal tax brackets and the provincial tax brackets: http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html Obviously it depends greatly on how much money you'll be making.
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May 29, 2014 21:51
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| # ? Apr 27, 2024 11:47 |
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Eau de MacGowan posted:Thanks for all the information. You've actually above and beyond and a little too focused on healthcare, my most pressing question was whether there is a federal or provincial tax beyond the personal income tax? Currently I live in Japan where I pay 20% income, 10% prefectural to separate agencies, and then health insurance beyond that (oh, and as a self-employed a 5% retroactive tax on income two years previous, which is why I want to get the gently caress out of here). Do I get one bill on income alone in Canada, or two, or three? Taxes in Canada are: Federal Income Tax Provincial Income Tax Like mentioned before, these two are assessed as part of one return through Canada Revenue. Which province is based on where you finish the tax year as a residence. Also: 5% GST on most retail goods. Provincial Sales tax on many other retail goods (0% Alberta, 7% BC) Property taxes if you decide to purchase property (varies based on property value and region) I think that covers the main individual taxes.
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May 30, 2014 13:10
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