Taxes

Personal Income Tax

Every individual working in Canada is required to pay income tax. For more information about the personal income tax and to see the most frequently asked questions about the personal income tax in Ontario, click here.

Cost of Living

There are significant differences in the cost of living in Canada between rural areas and major cities such as Toronto, with rural areas being less expensive. In Renfrew County, the average house price is $215K, but homes can be found for as low as $69,000. There are many rental options available as well. The average monthly rent for a 2-bedroom apartment is approximately $850, and for a house or newly built condominium, between $1200 and $1600, depending on size, location, and whether utility costs are included.

Municipal Taxes

Municipal or Property taxes are payable by home-owners and businesses to the municipality, and cover costs such as road maintenance, snow removal, street lights, education, fire and police services. They are calculated according to the value of the property, and vary from municipality to municipality. In addition to taxes, home owners pay for water and water treatment services (if they use them).

Social Insurance Number – SIN

The Social Insurance Number (SIN) is a nine-digit number that you need to work in Canada, to have access to government programs and benefits and to pay your taxes. All family members should apply for a SIN as it will allow every member to get certificates, open bank accounts and seek employment.

For more information on taxes for expats, check out this website: Expats Moving and Relocation Guide to Taxes.

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