Hello Friends

Stat Can published some figuers yesterday, I outlined some details in this post. When you read this post, keep one thing in mind that cost of an automobile has not been included in these figuers. Typical expenses on a paid off car is around $400 to $600 ( Insurance+gas+maintenance).

A family of three living in Toronto would be considered poor if their income fell below $25,230, according to Stat Can’s new low income cut off figures.

According to figures released yesterday, a single person living in Toronto, or any city in Canada with a population of more than 500,000 would be poor if they made less than $16, 348

In 1994, the same family of three needed $21,043 not to be considered poor, while the single person needed $13, 635.

That’s almost a 20% rise, about the same as cost of living increases in Canada between 1994 and 2003, according to charts in the research paper. The same three person family living in either a rural area, or a city, or a town less than 30, 000 people, would need $16.542 to be above the poverty line and a single person would have to earn $10, 718.

All of these figures are after tax. The cut offs, treated as the poverty line by many experts, measure the proportion of income devoted to essentials, like food, shelter and clothing.

If you add automobile cost and living cost that comes to aprox. $31,230. Chandres or Sanjeev K Gupta you guys are CPA can you tell us how much should you earn to get $ 31,230 take home salary? I think it must be somewhere in 60s, isn't it?

Thanks and regards.
Biomed

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"Change before you have to" : Jack Welch

Quote:

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That’s almost a 20% rice ..........

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Canada...another name for struggle in life!

OOOOPs typo
Thanks for pointing it out
Biomed

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"Change before you have to" : Jack Welch

interesting post biomed,

expert's comment will be helpful.

I read that article. what bull! choppily researched.

anyway, for a take-home pay of about 32k, i'd say u need to earn about 40k/42k for a married filing jointly/single. Also depends on what deductions and exemptions you take, and what your benefits are.

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i am back

OTTAWA -- The National Council on Welfare says many Canadians with full-time jobs did not make it to the poverty line in 2000. The agency found take-home incomes of people earning minimum wages were consistently below the poverty line used by Statistics Canada.

And it reports the situation looked just as bad using the new Market Basket Measure of poverty - even though it sets the bar a little lower.

The council says there were a few exceptions, mostly in Quebec where minimum-wage workers made it over the MBM line.

The Market Basket Measure is a detailed list of the basic items a family of four needs -- covering everything from children's running shoes to peanut butter.

The council says in almost every case, a person with a full-time, full-year job at minimum wage could not live above the Statistics Canada poverty lines.

Chairperson John Murphy says after all the government's talk about creating incentives to work, "it is shocking to see that full-time workers are still forced to live in poverty."

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Biomed

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"Change before you have to" : Jack Welch

Good article.
Here is some more info for those interested to know just the facts on MBM and low income cut off limits.(LICO)
This also gives an indication of the number of poeple under MBM and lico line.

http://www.edmspc.com/documents/MBM%20Facts.pdf

Note : MBM is not a measure of poverty line.

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