Moving to Mississauga as IT PM
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We are not talking about you - we are talking about your statement
Please note that Chandresh statement of declaring world wide income is purely VOLUNTARY (meaning that you need not submit documents for it) and so donot be scared about it.
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Chandresh
Advice is free – lessons I charge for!!
I think what TK is trying to say is ... If you do not volunteer , CRA does not have any mean/s to know your world income . In other words , it can be undeclared income.
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Fido.
Quote:
Originally posted by san-hugo
"
1) What will be take home after tax if annual salary is 80K: - to which the answer I got was 4.5K per month.
2) What will be the cost of basic stuff -roti, kapda aur makan – for a 2 member family:- to which I got answer as 2.5K.
"
Both are correct, but point 2 will be realized only after 5-6 months of initial heavy expenses. First few months there will be nothing left from salary to save plus over and above you will do additional expenses such as buying Car, 2 months rent at out set, buying basic furniture and kitchenware etc.
When your are counting your chickens, account in 6 months of gestation period.
I like your attitude and curiosity to learn and know cultures and life styles for which you are ready to uproot and travel. You will enjoy , for sure. Stay away from basements, will be my suggestion #1 plus get your international driving permit.
Thanks for this valuable piece of info, San-Hugo.
So I am thinking to travel alone initially, and stay as paying guest or similar set up for initial 2-3 months. Is there the concept of furnished PGs where single executives can stay for short duration?
And study the market during this period, and find best available option with respect to apartment, car etc, finish other formalities like SSN, driving license, then bring wife after 3 months. This way I can save some amount during this period as well, which I can use later ...
Do you see any flaws/risks in this plan?
Thanks adamthorat ...
Quote:
Originally posted by adamthorat
1. You OWN a house in your hometown +
2.You OWN a 2 BHK aprtment near your work place . Is this fully paid off, or is there EMI on it ?
3. Plus you own a car
Yes, I am paying EMI for the apartment, which I hope I can get rid of, after working in Canada...
Quote:
Originally posted by adamthorat
Don't bother coming here . You are better off in India , especially since you are making 1 Lakh per month.
1 Lakh per month is not that great salary in India now for 10 year experienced person in IT . But as I am in a relatively less costly city and as my wife is having a stable gov job here, I am comfortable with it. Also thanks to my past job in Dubai, I am financially stable, that is it.
Quote:
Originally posted by adamthorat
You want to visit places & see cultures? Just go as a tourist and come back, no need to go & work there .
Come here for 2 weeks on a vaction , see Toronto , Vancouver & Montreal and then go back..you will visit places & see the cultures you want
In my opinin , which is based on my own experience (I have been to Dubai for 3 years and new York for 3 months) you have to live and work in a city for at least 2 years to get a feel of the life and culture there. As tourist, you see some buildings, and fellow tourists. In this case, I will still save slightly more than what I can save in India, and I always will have option to come back, if I feel so any time in future.
By the bye, it is in my long term plan to visit all nice places that I have not been in the world as tourist, once I retire...
Posts: 5775
Location: God's own country
Posted on: 28-10-14 03:16:24
Location: God's own country
Posted on: 28-10-14 03:16:24
Some hotels are there where they will allow PG which ensures your privacy.
There is Sheridan Residences (one in Brampton which is bordering Mississauga) which gives you 2 bed rooms + kitchenette/dining with Microwave + toilet. You common use the Kitchen, laundry. This has free internet, free TV and a landline. It costed me $ 1100 in 2011. Summer has free breakfast.
Happywoman 36 of this CD can arrange a PG for you. It will be a one room tenament with sharing of common facilities. Will set you back by $ 400 + cost of food.
I feel that since you have a assured job, you can ask your wife to come after 15-30 days otherwise you will start hating Canada. canada is such a beautiful country that it is best enjoyed by families and not bachelors (forced). Your salary is also a good one.
Donot compare Toronto / Mississauga to New York or Dubai. You will face disspointment.
Toronto is best enjoyed when you have lots of money. Archietcture is also brab there. Mostly you will see poor fellow desi immigrants asking you to loan money or join in Quixstar etc..
I am also in Kerala. You cam PM me your number and I will call you.
Murali The Krishna
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I am a Gents and not a Ladies.
Quote:
Originally posted by Sasi007
Thanks every one for the detailed cost break-up and thought provoking insights about pros and cons of short and long term stays. Honestly speaking, I was surprised to see these much helpful responses, as I was not expecting this when I posted the query. Hats off to you guys and your valuable opinions have definitely helped me make the final decision- which is to accept this offer.
I don’t have long term plans, I am planning to stay for maximum 3 years only- as my job is to build a local team and train them. Also, as I am coming on ICT VISA, I will not be able to change job - as per my knowledge (Please correct me if I am wrong). I am negotiating with company to ensure that I will be considered for normal promotions when I am in Canada also, so that when I am back in India, I will still be getting salary as per my experience and industry standards in India then. If that works out, based on the inputs below, I feel it is a wise decision to accept this offer as I will have 1) some international experience and 2) a few additional lakhs in my bank balance.
I am expected to travelling December, and company has agreed to provide accommodation for 2 weeks. Now I am planning to bug you guys once again with queries about settling down etc , once I reach there :-) Till then thanks everyone for the great support !
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Your estimate of take home pay of 4.5k is valid. (Your spouse must be here in Canada to provide you with that rate of monthly income. Her presence here in Canada will provide you with an annual tax deduction of 11K or $900/month. So, have her here with you right from the start.
Your Company is providing you here with a two weeks stay. So, take advantage of this fact. I am sure your wife is included in it.
Any RRSP investment that you make will provide you with a tax rebate and if initiated from the start through the TD1 will not only provide you with savings, it will give a tax rebate also, there by increasing the take home pay. You will observe it will be around 5K/m. If your company, at a later date, can put you and pay you too as a contractor, some of the other expenses could be swung out into the company. All of these could be easily availed after settlement.
Also there are a few NEWER tax proposals that are in the works, where in the income could be shared or split between the spouse also. If and when they are announced you will also hear about them.
FH.
Please look for reductions in Tax deductions... : p2
http://www.cra-arc.gc.ca/E/pbg/tf/td1/td1-14e.pdf
This will enhance your Take Home Pay and will also provide you with an RRSP savings immediately.
A stay of FOUR Years in Canada will permit you to obtain Canadian Citizenship. If you stay here for a period of Seven Years or more, it will entitle you for an RNOR status in India. All of these are tax planning strategies available to you as time progresses.
XXXXXXXXXX
http://www.gscrentals.com/Ontario/Mississauga/2/
A nominal rental of $790 to 1050 for a ONE BR apartment is currently the norm. I have given you a very wide leeway in that. Standard BR (King or a Queen) and DR with 4 chairs, chrome, and a Kitchen set will set you back by a thousand, if spread over an year through their own credit cards or from a Standard-Bank issued Cr.Card, will call for a payment of $100/p.m. Four Good set of Percale linen and Bath set will cost you around $300. All of this is based on very high grade products. So, have the better half with you at hand for selection and the enjoyment that goes with it. Except for the Mattress, you can dispose the balance of stuff for a 50% loss when you plan to move back. Places to buy from are: IKEA and WalMart, or XS Cargo (They are under Protection) 50% off sale-Liquidation. A good initial grocery run to load your fridge and pantry will cost you a sum of $300, that will include a case of beer and/or a bottle of wine to get you started. Add another $25 for a similar Laundry and cleaning materials. I am sure, you can manage with that kind of budget each and every month. Do not forget that Milk,Bread, Yogurt, fruits and greens are as and when needed items and supplement them whenever it calls for. A Bus Pass for each will cost about $130 and if you want to have a car and insurance to go with it, include the same after your arrival and getting the vehicle and licenses.
Everyone has given you a suggestion or two and the costs associated with them, so, see if they are suitable and required by you. Some are really good. So, follow them. Since your entry into Canada is in the winter, please get equipped for the onslaught of snow and ice. A wide selection of clothing is available here to get started, but prior to arrival here and for the travels, do get equipped right there from that end. All of this mentioned above are in preparation and planning for a smooth start.
Please declare all of the items that you are bringing.(make a list of and ) also fill in the amount of currency you are carrying. If you have any other items that you wish to bring in at a later date or to follow you, after landing, make an additional "TO FOLLLOW" list with copies and attach the same to the declaration. (HAVE NO Meats, Firearms and other banned substances on you) You are allowed a lot of items when you enter Canada for the very first time. So, make good use of it.
WELCOME TO CANADA. (The land of the Clean, costly and cold or is it the ICE BOX)!!
fh.
Posts: 5775
Location: God's own country
Posted on: 28-10-14 04:26:47
Location: God's own country
Posted on: 28-10-14 04:26:47
FH,
He is coming on a company sponsered work permit. He is not an immigrant.
Murali The Krishna
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I am a Gents and not a Ladies.
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