Posted on: 10-06-11 09:33:40
Guys
I am new canadian resident and just got a job offer
I am planning to live in Missisuaga, can somebody advice me about approximate cost of living for a family of four ( Me and my wife and two kids)
Approximate income tax for 100K ( annum)
Morgage of a Moderate size Town house=?$$
Monthly Food =?$$
Utilities=$$
Monthly car ( saloon ) charges ( Loan installment+insurance)=??$$
Mobile + Internet=?
Any other expenses=??
Quote:
Originally posted by polani
Guys
I am new canadian resident and just got a job offer
I am planning to live in Missisuaga, can somebody advice me about approximate cost of living for a family of four ( Me and my wife and two kids)
Approximate income tax for 100K ( annum)
Morgage of a Moderate size Town house=?$$
Monthly Food =?$$
Utilities=$$
Monthly car ( saloon ) charges ( Loan installment+insurance)=??$$
Mobile + Internet=?
Any other expenses=??
You have asked a very general Q answer to which will never be perfect as individuals have their own needs and requirement, I would suggest to search for threads for each topic on the forum and get your answers.
For example – Monthly food – Could be $400 for family of 4 or even $1000 . What do you eat – veg or non veg? do you eat outside too often/ will you take you own lunch to work? And so on…….I do not want to give anwers
Approximate income tax for 100K ( annum) = 27500
http://lsminsurance.ca/calculators/canada/income-tax
Morgage of a Moderate size Town house=?$$ $1600 (considering townhouse of around 400K with 20% down)
http://www.ingdirect.ca/en/tools/calcs/Borrowing.html
Monthly Food only =$800-1000
Utilities=$500
Monthly car ( saloon ) charges ( Loan installment+insurance)=$700
Mobile + Internet=$100
Other monthly Expenses=$1000 (gas, hoteling, kids activities, clothing,propert tax+insuranc etc).
Good luck!
Quote:
Originally posted by polani
Guys
I am new canadian resident and just got a job offer
I am planning to live in Missisuaga, can somebody advice me about approximate cost of living for a family of four ( Me and my wife and two kids)
Approximate income tax for 100K ( annum)
Morgage of a Moderate size Town house=?$$
Monthly Food =?$$
Utilities=$$
Monthly car ( saloon ) charges ( Loan installment+insurance)=??$$
Mobile + Internet=?
Any other expenses=??
BTW based on mortgage calculator, you can afford bigger house. If you are planning to buy then would suggest to get bigger house, reason being as first home buyer you could save some money such as land transfer tax etc. Because I am sure at later stage you will go for a bigger house anyway (A good wish from a CD!).
Also consider taking advise from CPA before filling out any tax forms.
