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s it possible to survive in Canada on Basic Salary? Survival as a Student is possible on 20 hrs/week? In this video, I am going to answer all your questions in detail.
Please note: I missed deducting taxes when calculating the salaries. Please accept my apologies. The exact calculation is hereunder:
For Single/Student:
Total earning after-tax = $1,667 (15% tax. link below)
Total Expense = $1,430
Survival Possible? Yes
For Couple:
Total earning after-tax = $3,998 (15% tax. link below)
Total Expense = $2,830
Survival Possible? Yes
For Family (3) with one working for 40hrs and other working for 60 hrs:
Total earning after-tax = $4,998 (15% tax. link below)
Total Expense = $3,480
Survival Possible? Yes
However, a portion of the taxes you pay is recoverable based on your Income Tax return at the end of the year. The exact calculation varies from person to person.
Ontario tax slabs: https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html
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About me:
While applying for my Canada PR in 2018-19, I realized that professional and valid help was missing on social media platforms from reliable sources. Thus, this channel was created to provide help and support to those who want to know more about Canada or move to Canada as Permanent Residents.
I am a Regulated Canadian Immigration Consultant, Registered with ICCRC to deliver Immigration related services to Individuals and Companies across the globe. I try my best to give as much information as possible and answer questions.
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