Quote:
Originally Posted by bcrdukes
I would say there is a large wage gap in Canada, especially when comparing cities. A manager with 7 - 12 direct reports in Vancouver could be making $90K-$105K in (If you're lucky) whereas the same role in Toronto would be $110K-$125K. Taxes in Canada are tough - you lose 30% to 40% depending on your income bracket. I'm afraid I don't know what folks in Singapore are pulling in, but I would assume the same, if not, similar in range. I have no children and currently single, so I can take on these risks. The lifestyle is more attractive to me than the money. Would be nice to meet a local with the potential of raising children together.
Ideally I would like to own a car, but buying multiple properties are out of the question at this point., Let alone, buying one on a single income seems like a pipe dream. What's it like to buy/own a car? We pay 13% harmonized sales tax in Toronto when buying a car, and various fees here and there.
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Noting that CAD is roughly on parity with SGD, the managerial salaries in CA don't seem high to me. CA taxes are way higher though. SG's income tax for a 120k income is just $7,950, or less than 7%. Google for "singapore iras income tax rates".
A car is super expensive compared to the rest of the world. A brand new Toyota Camry costs $152k (cheapest Camry model). And you can only take a max loan of 60%, which means you have to pay 40% in cash.
For properties, it's worse -- 20% "additional" duty for any property purchase. 0% for citizens if they are first-time owners.
It's not all bad. As a poster mentioned, the locals here have an affinity towards western things, including non-caucasian people from the north american continent, people who speak roughly the same accent as Hollywood movie characters.
Since you said you're from Vancouver, I'm guessing you're an Asian Canadian?