deepakchauhan said:
Dear All,
Although the strike has delayed everything but still need a major suggestion from you guys. I am a banker by profession and would be shifting with wife and 6 month old kid as soon as strike ends.
In my CIIP session I was insisted more on going to a smaller province like Alberta then Toronto because of NO PROVINCIAL TAX and lower cost of living. Also have heard child benefits in Alberta are higher than in Toronto..Pls suggest
How true is this and what do you suggest. Toronto Or anywhere in Alberta ( Calgary or Edmonton ).
I think Toronto would have more opportunities and less of climatic variations.
Please suggest plus and minus of these locations...
Thanks
Good questions.
My 2 cents :
1) Toronto is NOT a province. Is not even the capital of the province that it is in - Ontario.
Since you are a banker, the easiest way to explain will be that Toronto can most closely be compared to Mumbai.
- Just like Mumbai, Toronto is the financial hub of Canada
- Just like Mumbai, Toronto is pretty metrosexual and you will find every kind of person there from the poorest of the poor to the richest of the rich.
- Just like Mumbai, Toronto is massive, it is chaotic, road sense & traffic conditions are among the poorest in the whole country.
- Just like in Mumbai, if you arrive from another area without a job lined up, or an effective support system in place (good relatives, good friends etc), then may God help you!
2) Alberta is NOT a small province. It is pretty massive in size, it is growing pretty fast and is the richest Province in Canada.
With that out of the way, onto the next points -
3) Tax rates - google for - "Tax rates in Canada"
I can't post the links, but please go ahead and google and check out the CRA link - The link will state the tax rates that you will paying at based on your location.
4) For all your benefits questions - google for "child benefits in canada"
5) For cost of living, please factor in costs of living - rents, mortgages etc. Tax alone is not everything.
6) Toronto is pretty wild when it comes to harsh climate conditions - summers are HOT and winters get COLD. If you want the least climatic fluctuations, you would look at Halifax, NS. If you wanted no snow at all and pleasant season for most of the year, Vancouver and surrounding areas are better. However, don't let that discourage you. If you like Toronto, go for it. Climate is pretty easy to manage at the end of the day.
