Posted on: 26-07-05 07:42:28
Hi Folks:
I need your sincere advice, I was planning to move permanently in Toronto to join my family in July2005. Alas! my mother is detected with cancer and since I would like to offer her the best teatment available in India, I guess in Tata Memorial, I need to continue working in middle east, while my family stay there.
Can anyone tell me please what could be the tax burden for C$ 80K and can I save in my wife's name e.g. RSP etc. to reduce the tax burden. Can I get any tax rebate on the expense of my mom's treatment in India. I have only one kid living with my wife in Toronto. My calculation shows around 25000 C$ net tax, without any savings, please correct me if I am wrong.
I would highly appreciate your advice in this regard.
Thanks a lot.
New Guy
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New Guy
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We can always do better!
You can get an approximate Tax amount without RRSP using this
http://www.ey.com/global/Content.nsf/Canada/Tax_-_Calculators_-_2005_Personal_Tax
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We will find a way or we will make one
Quote:
Orginally posted by New Guy
Hi Folks:
I need your sincere advice, I was planning to move permanently in Toronto to join my family in July2005. Alas! my mother is detected with cancer and since I would like to offer her the best teatment available in India, I guess in Tata Memorial, I need to continue working in middle east, while my family stay there.
Can anyone tell me please what could be the tax burden for C$ 80K and can I save in my wife's name e.g. RSP etc. to reduce the tax burden. Can I get any tax rebate on the expense of my mom's treatment in India. I have only one kid living with my wife in Toronto. My calculation shows around 25000 C$ net tax, without any savings, please correct me if I am wrong.
I would highly appreciate your advice in this regard.
Thanks a lot.
New Guy
Hi New Guy,
I have replied to your email. Please confirm if you have received it as the PM on CD is not working fine.
Good Luck
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
Thanks a lot Smiley and PC for your kind advice.
regards
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New Guy
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We can always do better!
