✈️ If you're short on time, check out our weekly income tax newsletter - these videos summarized in one informative email each week 👉🔗 beacons.ai/thenextgenbusiness
Nah. You’re assuming that the person isn’t claiming a single tax credit. We have provincial and federal non refundable tax credits to lower tax payable as well as refundable tax credits. These posts are pretty misleading and really need to be taken with a grain of salt.
You do get it a lot for it. free universal health care and as of 2024 dental care. Excellent education, emergency household natural disaster relief, monthly money for parents with children. As well as tax credits, which either bring down your taxes down or give you money in the mail in the form of a cheuqe.
Yeah but you also don't realize if someone in your family gets a major medical emergency or financial emergency the government will cover it, even if it would cost more than the taxes you gave them
Not so fast...yes you get " med care" but the wait times are brutal, shortages of staff in every hospital atm and alot of folks get health insurance to get faster private care.
@@005Amergin well yes, but it's true everywhere, even here in America. It's all the same the jus pay directly from their paycheck and help those who couldn't normally afford it.
What’s the cost of living in British Columbia? Like how expensive are homes/rent? Is a million dollars considered very rich or is it more like California where a million makes you upper middle class at best?
@@thenextgenbusiness thanks for the reply! I was going to say, if cost of living in BC was relatively low then 50% tax isn’t a problem in my eyes because a six figure income is still really good money. But if it’s more expensive to live there then maybe the tax should be lowered so people don’t fall into poverty.
Vancouver BC is amazing but considered the most unaffordable city in North America because it is so expensive. But BC is one of the most beautiful places on earth so it seems worth the cost to me and all my friends in BC.
the most expensive houses in Canada are in BC, i’m from Toronto and the average amount for a house where I live now, is around 1 million, in BC it’s probably 2-3 million by now
I make that in BC and I'm getting absolutely robbed. There are also property taxes. Parking taxes. Alcohol taxes. Parking taxes are 30+ percent of each parking bill. I'm voting conservative provincially and federally from now on. I don't care if the whole world burns down due to carbon emissions lmao. Fuck the world. Sick of getting robbed.
Very few employed people have earned income of a million a year, anywhere. That kind of annual income almost always comes from investments, dividends, which are not taxed as earned income, and what little tax they do generate can often be eliminated by being able to claim many more deductions that are not allowed with earned income. People with earned income of around $100-150,000 per annum, pay a lot less with a progressive tax rate, taking home much more than 50%. When I earned $130,000 a year, I brought home about $85,000 but that included a $500 contribution to my employer matched company pension plan. There was also an extended health plan I contributed to that covered all the things government health care did not cover, such as dental, prescriptions, some specialists like RPTs, and chiropractors, as well as life insurance. I lived very well, and thought the amounted deducted was fair, and I could see where it went.
✈️ If you're short on time, check out our weekly income tax newsletter - these videos summarized in one informative email each week 👉🔗 beacons.ai/thenextgenbusiness
Damn they getting robbed
Nah. You’re assuming that the person isn’t claiming a single tax credit. We have provincial and federal non refundable tax credits to lower tax payable as well as refundable tax credits. These posts are pretty misleading and really need to be taken with a grain of salt.
Fr my dad pays about 35% of his salary just in tax
You do get it a lot for it. free universal health care and as of 2024 dental care. Excellent education, emergency household natural disaster relief, monthly money for parents with children. As well as tax credits, which either bring down your taxes down or give you money in the mail in the form of a cheuqe.
And all the rich hollywood celebs said “if trump wins im moving to canada” 😂😂
And they stayed right in the USA
albertas way better@@rociwillreadforyou
Yeah but you also don't realize if someone in your family gets a major medical emergency or financial emergency the government will cover it, even if it would cost more than the taxes you gave them
So what?
@@davidrussell9290 so then you don't get fucked because you can't afford to pay for your health
Not so fast...yes you get " med care" but the wait times are brutal, shortages of staff in every hospital atm and alot of folks get health insurance to get faster private care.
@@005Amergin well yes, but it's true everywhere, even here in America. It's all the same the jus pay directly from their paycheck and help those who couldn't normally afford it.
No wonder why so many rich people don't pay takes sheesh
texas washington state and more dont have income tax
Man are you kidding?? I had no idea they taxed the hell out of you in Canada 😵
Yes , the govt. do.
Thats that "free" health care for you.
No it is not ,only the band aid.
leftists tools thought money grew on trees and that's why free medical healthcare was a great thing XD
Criminal
Highway robbery
You'll never know where the money is going
To the govt.officials & their coffers.
Let’s see Manitoba and Saskatchewan
Less taxes than Ontario
By half a percent....
Better than most of us. Be grateful.
What’s the cost of living in British Columbia? Like how expensive are homes/rent? Is a million dollars considered very rich or is it more like California where a million makes you upper middle class at best?
Cost of living will vary but British Columbia is one of the more expensive Canadian provinces to live in 🍁 (Similar to other provinces like Ontario)
@@thenextgenbusiness thanks for the reply! I was going to say, if cost of living in BC was relatively low then 50% tax isn’t a problem in my eyes because a six figure income is still really good money. But if it’s more expensive to live there then maybe the tax should be lowered so people don’t fall into poverty.
Bc has nicest climate
Vancouver BC is amazing but considered the most unaffordable city in North America because it is so expensive. But BC is one of the most beautiful places on earth so it seems worth the cost to me and all my friends in BC.
the most expensive houses in Canada are in BC, i’m from Toronto and the average amount for a house where I live now, is around 1 million, in BC it’s probably 2-3 million by now
In fairness to almost all of the other ones you're doing please do $100,000. You will see the graduated tax system reflected a lot differently.
I make that in BC and I'm getting absolutely robbed. There are also property taxes. Parking taxes. Alcohol taxes. Parking taxes are 30+ percent of each parking bill. I'm voting conservative provincially and federally from now on. I don't care if the whole world burns down due to carbon emissions lmao. Fuck the world. Sick of getting robbed.
50% for what
what is each thing spent on
what is provincial tax for
Canada pension plan and Employment Insurance are not taxes. And if you make around $100,000 you will see that the tax is about 25%.
Wtf income tax in canada is hell...thank god i live in asia
This is technically true but practically incorrect, almost everyone has tax deductions.
Give me a break.
they really finnesed you 💀
If they want to rob me, I'll rob them!
Very few employed people have earned income of a million a year, anywhere. That kind of annual income almost always comes from investments, dividends, which are not taxed as earned income, and what little tax they do generate can often be eliminated by being able to claim many more deductions that are not allowed with earned income.
People with earned income of around $100-150,000 per annum, pay a lot less with a progressive tax rate, taking home much more than 50%. When I earned $130,000 a year, I brought home about $85,000 but that included a $500 contribution to my employer matched company pension plan. There was also an extended health plan I contributed to that covered all the things government health care did not cover, such as dental, prescriptions, some specialists like RPTs, and chiropractors, as well as life insurance. I lived very well, and thought the amounted deducted was fair, and I could see where it went.
That’s surprisingly better than California
Je suis intéressé
wow
Isn't it wonderful how the left works? XD!
Ouch. And the worst part is you live in Canada.
Je suis intéressé par le job
What the fuck are they doing in canada?
Move now .....
CanaDONT OMG
Please someone convince me this is “fair”
Yea no I’m not moving to fucking canada