Quote:
Originally Posted by hohead
As someone who recently moved from Alberta to California, with the assumption that 1 USD = 1 CAD, I find most things to be either the same, or more expensive in California.
Also, income taxes are about the same, and sales taxes are higher.
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Keep in mind you moved from one of the lowest taxed provinces to one of the higher taxed states.
I moved from Ontario to Texas. Some things are the same, some are a lot cheaper. No state income tax, so taxes are automatically lower. I found federal taxes to be about the same. From what I am told, the difference is noticable when you file your taxes. There are a lot more deductions you can make in the US. I have always had to pay extra at filing time in Canada. Sometimes as much as $5,000. My first tax return in the US only covers 4 1/2 months and I am getting a $2,500 refund.
From what I have been told, mortgage interest, and state income or sales tax are the two biggest deductions.
Generally, Americans moving to Canada face a tax increase.
Many Americans own houses and other properties in Canada. If coming as a visitor, you can do everyting except work. If you want to move here to live, you need a work permit and evetually apply for permanent residency. You have to meet certain skill requirements to get the work permits.
Follow the link dmnari provided. You will also want to find out what your tax obligations in the US are while you are living in Canada.
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