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how much is enough?is 70 k enough to lead life in toronto?

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newbee10
Member since: Aug 10

Posts: 10
Location:
Post ID: #PID

Posted on: 23-09-10 22:23:11

Hi,
I have been offered a job in IT sector in Toronto for about 70 K. I have abt 5yr s of experience in code developement. I am currently working in uSA.
How much will i get in hand after tax cuts?
What i would like to know is it sthg which an avg IT person with 5 yrs will get in Canada?
will it be enough to lead a comfortable life in toronto without pinching pennies? There is this thought in my mind that i am being too greedy but then other thought feels if i am staying away from home(india) then i better get a good deal.

Thanks for your inputs

chandresh
Member since: Mar 03

Posts: 2606
Location: Toronto
Post ID: #PID

Posted on: 24-09-10 11:09:04

Quote:
Originally posted by newbee10

There is this thought in my mind that i am being too greedy but then other thought feels if i am staying away from home(india) then i better get a good deal.

Then why not go back to India - you will stop feeling that you are greedy as well as save yourself the trouble of trying to get a good deal because you obliged your employer by leaving your home!

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Chandresh

Advice is free – lessons I charge for!!

G13
Member since: Jul 06

Posts: 602
Location: Amidst a glow in the sky.
Post ID: #PID

Posted on: 24-09-10 11:36:41

Try this link, it gives a good estimate

http://www.walterharder.ca/Take%20Home%20Pay%20Calculator.asp

~ 51.6k estimated take home pay for 70k. You can take home a bit more if you are married and have kids.

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manserwadekar
Member since: Jan 09

Posts: 407
Location: All over place
Post ID: #PID

Posted on: 24-09-10 11:42:16

Quote:
Originally posted by newbee10

will it be enough to lead a comfortable life in toronto without pinching pennies?

No it is not. Here is the link that gives the average income of canadians and they are comfortable.

http://www40.statcan.ca/l01/cst01/famil21a-eng.htm

You are asking wrong question to wrong group..First get the answer from most important person....yourself.

manserwadekar
Member since: Jan 09

Posts: 407
Location: All over place
Post ID: #PID

Posted on: 24-09-10 11:44:30

Quote:
Originally posted by G13

Try this link, it gives a good estimate

http://www.walterharder.ca/Take%20Home%20Pay%20Calculator.asp

~ 51.6k estimated take home pay for 70k. You can take home a bit more if you are married and have kids.

Did you mention about HST? Insurance, cell phone, tax on breathing free air, etc..rip-offs?

Loser
Member since: Sep 04

Posts: 1052
Location: Nice ,USA
Post ID: #PID

Posted on: 24-09-10 12:27:41

100K

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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership

G13
Member since: Jul 06

Posts: 602
Location: Amidst a glow in the sky.
Post ID: #PID

Posted on: 24-09-10 12:28:14

Quote:
Originally posted by manserwadekar

Quote:
Originally posted by G13

Try this link, it gives a good estimate

http://www.walterharder.ca/Take%20Home%20Pay%20Calculator.asp

~ 51.6k estimated take home pay for 70k. You can take home a bit more if you are married and have kids.

Did you mention about HST? Insurance, cell phone, tax on breathing free air, etc..rip-offs?

No. The OP was looking for deductions and taxes on income. But yes I understand what you are saying, I agree Canada is no way competitive with US.

Contributors: manserwadekar(3) dimple2001(2) dan(2) chandresh(2) G13(2) newbee10(1) Loser(1) web2000(1)

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how much is enough?is 70 k enough to lead life in toronto?

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