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Dear Mr. Ingram,
If I wanted my after tax take home pay to be...let's take an example 7000 US per month or about 85000 per year what amount would I need in pre-tax salary in Montreal to have the equivalent take home pay? I am considering looking into a position in Montreal and am trying to compare apples to apples.
Sincerely,
Eric Paul
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david ingram replies: I am answering this form home and do not have a Quebec Tax rate here so I am guessing to a degree. However, I am also guessing on what the exchange rate will be between the US and Canada when you get paid.
The rate in 1991 for instance was $87.27 cents American for every one hundred Canadian Dollars. At the moment you get about $72.00 for every one hundred Canadian dollars.
So at the risk of being completely wrong and guessing at the exchange rate for 2004, I would say that you will need $170,000 Canadian to realize an after tax, after CPP, after Employment Insurance $85,000 US.
Coming from an income tax free state with a joint tax return, you will be horrified by the income tax rates in Quebec.
David Ingram's US/Canada Services
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
4466 Prospect Road
North Vancouver, BC, CANADA, V7N 3L7
Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321
New email to [email protected]
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed information or consultation and is to be regarded only as general comment. Nothing in this message is or should be construed as advice in any particular circumstances. No contract exists between the reader and the author and any and all non-contractual duties are expressly denied. All readers should obtain formal advice from a competent and appropriately qualified legal practitioner or tax specialist in connection with personal or business affairs such as at www.centa.com. If you forward this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
This from "ask an income tax and immigration expert" from www.centa.com or www.jurock.com or www.featureweb.com. Canadian David Ingram deals daily with tax returns dealing with expatriate:
multi jurisdictional cross and trans border expatriate problems for the United States, Canada, Mexico, Great Britain, the United Kingdom, Kuwait, Dubai, Saudi Arabia, Thailand, Indonesia, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, American and Canadian and Mexican and any of the 43 states with state tax returns, etc.
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David Ingram of the CEN-TA REALTY Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
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