The Motley Fool Discussion Boards

Previous Page

Retirement Discussions / Retire Early Canadian board


Subject:  Re: Life after taxes? Date:  7/1/2001  5:06 PM
Author:  tialli Number:  14 of 35

The top marginal rate (B.C. and federal combined) for income tax is 43.7% and the sales tax (B.C. and federal combined) is 14% and capital gains are subject to a 50% federal inclusion rate to be included in your taxable income. As for deductions, personal basic exemption is approx $7000 and a little less for the spousal one on the federal level. The

Of course, this only applies to a resident. While I don't know what areas of B.C. you would consider, if it's Vancouver then there's a way. If Vancouver is okay, the solution is to live in one of the border towns where it would only take 15 min to get into greater van - excluding holiday weekends. You could be close to great beaches in White Rock or the valley in Abbotsford - both great suburbs. Then your wife or you could work - all you would need is citizenship and a SIN, ie SSN, which your wife would make it very easy for you to get - in Vancouver in CAN$. This way the exchange rate works to lower your US taxes while paying NO canadain taxes. Due to purchase power parity, when you buy something here it is only slightly more than what it is in Seatlle, a difference less than 10%. That way you get all the benefits of retiring in Vancouver, in the pacific northwest - culture, less snow than Seattle - while having more money in your pocket.

If you have any more questions, just ask.
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us