Quote:
Originally Posted by Unregistered
$350k annual income, after tax would be $217K/annum (~$18k/month). I don't think this is that different from GPs in private practice here?
Do you find that your spending power is higher in SG or CAN?
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In Canada, most physicians will form a Professional Corporation.
My billings all go to my Profession Corp. And it is taxed at corporate rates.
s://.pwc.com/ca/en/services/tax/budgets/2019/alberta.html
For Alberta it is 11%.
If I withdraw money from my Corporation to my personal account, that become my personal income and is taxed at personal income tax rates. I hardly ever need more than $120k a year. Taxed at 10%
s://paycheckguru.com/tax-brackets-and-marginal-tax-rates-in-canada/alberta-personal-marginal-income-tax-rates/