Many American families are in the process of taking their talents North of the border, whether it’s for a winter holiday or an extended visit. If you’re considering a move, here are some key things to think about. Meanwhile, you can search for some houses for sale in Calgary NE, Vancouver, Toronto, and Halifax.
Taxes in Canada
One of the primary concerns of anyone moving to (or from) Canada is how much taxation will take up residence in his (or her) wallet.
Indeed, individuals who relocate to Canada from the U.S. face an adjusted gross income tax (AGI) of up to 29% in the first year and 25% in the second year, as well as a potential new Medicare tax of 3.45%. Those who move from Canada to the U.S. may be subject to an adjusted gross income tax of up to 15.3% in the first year and 12.4% in the second year.
But that’s not all that’s tax-related. Many companies that operate in both countries may also be subjected to double taxation, so be sure to consult a professional if you have any questions regarding your tax obligations in either country.
Another critical area to consider is the cost of dental care. For those who are due for a checkup, there is no need to fret. According to the Canadian Institute of Health Services, there are more than 20 dental hospitals in Canada that provide the full range of services, including routine dental cleanings, crowns, bridges, and implants. But if you are searching for a cheaper alternative, consider the option of getting your dental work done in the U.S. Many providers offer quality care at a reasonable cost.
Education is also critical to consider when relocating to Canada. The most relevant piece of information for this topic is the international education tax credit (E.T.C.), which allows you to claim a tax credit of up to $500 for each of your fulltime undergraduate students who has been born after 1985. For a complete breakdown of the available credits and strategies, be sure to consult a professional.
Asylum is another critical factor to weigh when thinking about a move to Canada. The fact is, many people are granted asylum in Canada, which means they are granted protection from being deported to their country of origin. So if you are considering this option, be sure to consult with an immigration lawyer to learn more.
Finally, be sure to consider the quality of the health care system in Canada. It is one thing to visit a health care provider (HCP) in Canada for treatment, but quite another to be admitted to the hospital as a patient. For instance, the average length of stay at a hospital in Canada is just under a day, which is less than half the length of stay in the U.S. (where, in some states, you would typically stay for several days). And while there is certainly some variation by region, the trend is for shorter hospital stays in Canada.
Another important factor to consider when relocating to Canada is safety. The truth is, despite its size, Canada is a very safe place to live. In fact, it is one of the safest places in the world. If your parents are worried about their health, they can travel to Canada with peace of mind that their children are protected.
Is Life In General More Pleasant In Canada?
Yes. If you’re asking yourself if life is better in Canada, the answer is a resounding yes. We value contribution overconsumption, and we recognize that making the right choices for the environment is essential to our long-term sustainability. When we have a population of 350 million people, everyone’s needs are considered, and that includes your needs. We want you to be happy and healthy, and that means taking responsibility for your choices and being kind to the environment.
Quality Of Life
Ultimately, when looking at a location for a new life, you want to find a country that provides you with a quality of life that is comfortable for you and your family. In this case, Canada checks all the boxes. Not only does it offer a high quality of life but it also provides opportunities for personal growth and development as you navigate your career.
If you are in the process of making up your mind, take your time. Do your research and have honest, open conversations with family and friends. Together, you can make the right choice for you and your loved ones.
We hope you found this blog post Is Moving to Canada a Good Idea? useful. Be sure to check out our post 5 Tips To Adjust In a New Country for more great tips!
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