# Salary offer for Toronto



## TheKos (May 5, 2008)

Having posted earlier with no reply, I thought perhaps if I rephrased things a bit, maybe someone could advise?

My husband has been offered 160k per annum for a position in Toronto. We have 48k in obligations back in the US per year. It would be just the 2 of us (kids are grown & all reside in the US) & are hoping to rent a 2 bedroom apt. Is this salary offer reasonable given that we would have to pay tax in Canada?
Using the online calculators, we're seeing some 55k+ in tax on 160k salary- leaving just over 100k net income to work with for the aforementioned obligations of 48k & cost of living expenses in Canada- is that about right?
Thank you for any & all advice


----------



## Auld Yin (Mar 10, 2009)

Your calculations sound just about right.


----------



## TheKos (May 5, 2008)

Thank you AY-
Are we correct in assuming that we wouldn't be entitled to any refund or write off's of the 55k, given it would just be the 2 of us, no property & no kids?
Thanks again~


----------



## SallySensors (Oct 23, 2012)

Hello,

I'm not too sure about this, but I believe the only time you would be entitled to a write off would be if you made under 20K per year, or if you were getting a refund on your tax return at the end of the year. I would contact Revenue Canada to be sure though.


----------



## Auld Yin (Mar 10, 2009)

TheKos said:


> Thank you AY-
> Are we correct in assuming that we wouldn't be entitled to any refund or write off's of the 55k, given it would just be the 2 of us, no property & no kids?
> Thanks again~


That's correct. If your obligations in the US were a result of investment producing income it is possible you'd be allowed to deduct some of the expenses.


----------



## TheKos (May 5, 2008)

Very depressing news to hear...55k tax to Canada off the top, 48k in obligations back in the US, doesn't leave much for cost of living & some sort of savings does it?...guess we'll be taking a pass when it's all said & done...so disappointed, but thank you for the feedback


----------



## SallySensors (Oct 23, 2012)

57K a year is still a fair amount for someone in Canada. I would seriously consider looking into it.


----------



## Auld Yin (Mar 10, 2009)

SallySensors said:


> 57K a year is still a fair amount for someone in Canada. I would seriously consider looking into it.


It's not so great when you're coming from somewhere where all your earnings belong to you. I would suggest that $57k would not provide anything close to the lifestyle they presently have.


----------



## SallySensors (Oct 23, 2012)

Auld Yin said:


> It's not so great when you're coming from somewhere where all your earnings belong to you. I would suggest that $57k would not provide anything close to the lifestyle they presently have.


Fair point! I guess I wasn't considering it from that angle!


----------



## TheKos (May 5, 2008)

More importantly is trying to grasp what 55k pays for, as Expats, without kids?


----------



## TheKos (May 5, 2008)

TheKos said:


> More importantly is trying to grasp what 55k pays for, as Expats, without kids?


ETA
*what 55k inTax provides for, as Expats, without kids?


----------



## SallySensors (Oct 23, 2012)

TheKos said:


> ETA
> *what 55k inTax provides for, as Expats, without kids?


It would go towards things like public transit, health care, some of it does go towards schools, maintenance of roads and such. Things that cities need to function smoothly.


----------



## TheKos (May 5, 2008)

Oh, I see......Any other Expats in Canada care to weigh in?


----------

