# Moving to Toronto



## Marco84 (Jan 13, 2012)

Hi just looking for some help! I'm 27 years old, currently working in the UAE and have been offered a job in Toronto. it is with a canadian construction company working as a Safety professional. 
the gross package is 125,000 annually. It would be just myself and fiance to support but i'm worried about the taxation. she is a teacher but willing and capable to turn her hand to anything. is my net worth enough to live comfortably in toronto city center? ie. car, active social life, two holidays a year...

thanks in advance


----------



## G-Mo (Aug 17, 2011)

Your after tax total would be about 87000. Living in Toronto "city centre" you should probably budget $2000-3000 for rent or mortgage and expenses. Don't know what car you like, but say $350-400/month for car payment, as you are new to Ontario your insurance will be stupid expensive, and you want to live in one of the most expensive insurance areas (city centre), so budget $400 a month for that. If your accommodation doesn't already come with it you will need to pay for parking (if something isn't available for free). Can give you a better idea if you know what style (buy/rent, house/condo, 1 bed? 3 bed?) of accommodation you are expecting. As long as you aren't planning a holidaying at the Half Moon twice a year, you should be able to accommodate to holidays.

In short, yes you can comfortably live on $125k in the city centre... Not lavishly, but comfortably.


----------

