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Hi all,
I am thinking of migrating to Toronto near Markham area. Just got scared of the news regarding high taxes in Canada.
Just wondering, for a family of 3 with annual income of ~120k Cdn,
a) will there be any problem to start a new life in Canada? (assuming going to own an apt of ~300k and a car)
b) what is the average monthly saving that folks in Toronto save?
c) usually will folks be downgrade their lifestyle due to inflation etc?
It will be helpful you can give me a guidance.
thanks.
I assume you have done your homework about Marlham?
Its a nice area just north/north east of Toronto,expanded a lot,still growing,lots of
chinese,asian population,lots of traffic.
I'm assuming you have a job are transfering,or you are self employed.
With your income you could live anywhere!
Definately we in Canada pay more taxes than in US and maybe many other countries.
Savings = net income - expenses
Inflation has been probably comparable to US lately.
Generally I would say costs are higher in Canada than in US, especially housing,cars,gas,clothes even food.
Benefits of course are universal health care, safer environment?
All in all with your net income at end of day, you are above the norm, I can't see that you would be struggling if you moved to Markham.
If I were you, I would consider all the lifestyle issues that are important for you and you family, do homework on Markham,or come to visit, and decide.
good luck
Markham have higher property tax than Richmond Hill or Vaughan.
with your income you shouldn't have any problem.
Bring you car(s) when you come, they are much more expensive here.
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Thanks mib
