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Old 10-23-2007, 11:46 AM
 
18 posts, read 176,951 times
Reputation: 21

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We currently live in a suburb 20 miles north of Baltimore, MD. DH and I live within 5 miles of work. We have 2 small children (3.5 and 5). We have extensive family that lives in the Greater Toronto Region (Mississauga, Aurora, Richmond Hill, ).

I'm trying to figure out the financial aspects of a move like this. I am a budget analyst for a gov't contractor and DH is a mortgage broker. We have a nice 4br, 2.5 ba home worth around 500k (about 2700 sq ft on 1/5 acre). We pay about $400/mo in health insurance through my employer. Property taxes are about $300 per month. We can assume I'm in the 28% federal tax bracket plus whatever MD is.

What are the costs in Canada? I won't be able to deduct mortgage interest from my tax bill. Is medical included in taxes? What remaining medical costs are there?

Assuming we made the same money, how could I determine what my take home pay would be (estimates). How about housing prices? It seems that I would be lucky to get a newer home in the suburbs which would be comparable to my current home.

Someone said it was difficult to move from the US to Canada. How would one go about doing something like that? Would it be difficult to get a job from the US?
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Old 10-23-2007, 03:23 PM
 
4,282 posts, read 15,267,370 times
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GTA Suburban Housing: $500K will get you very close to a comparable house depending on the suburb you choose. Go to the Canadian MLS site , mls.ca - Welcome , and start punching in criteria for the suburb of your choice.


Doctor and hospitalization costs for Permanent Residents and Canadian citizens are covered through the Ontario Ministry of Health. Costs not included are things like dental, prescriptions, eye care, etc. Many employers offer insurance plans with varying amounts of coverage for those items.

If you're truly serious about costing out a potential move, I think the best way to arrive at an accurate tax figure would be to have one of your relatives pop down to the local post office, pick up a couple of federal Income Tax packages, and mail them down to you. That would allow you to read all the fine print of the Income Tax Guide and to plug your own anticipated numbers into the various formulae.

There are various avenues for immigration to Canada: family sponsorship, employment offers, etc. Go to the Citizenship and Immigration Canada web site for complete information and requirements. Welcome Page | Page d'accueil
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