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Expenses in Canada: Taxes and other expenses.
Expenses in Canada: Comunications, Education and Healthcare.
Image via WikipediaCommunications
- Telephones - You can buy your own telephone, or rent one from the telephone company. Major home phone companies are: Rogers, Bell and Primus
- Average Cost of Telephone (Monthly): $20 - $40 plus long distance charges.
- Cellular phones - Many Canadians have a cellular (cell), or mobile, phone instead of or in addition to a land-line. You will need to purchase a phone and pay for the monthly phone service. Major cell phone retailers are: Rogers, Bell, Fido, Telus, Virgin Mobile, Solo and Koodo.
- Average Cost of Cell Phone (Monthly): $40 + Cost Initial Cost of Phone
- Cable or satellite television - you may need to purchase cable or satellite service. There is a monthly fee for such service, and it usually varies depending on the provider, the scope of the package and the options you choose.
- Average Cost of Cable (Monthly): $25 - $50
- Internet - Many Canadians subscribe to an Internet service, which allows them to surf the web or send emails from their home computer. You can purchase Internet service from most cable or telephone companies.
- Average Cost of Internet (Monthly): $20 - $60
To keep in touch with your relatives abroad, get a free $5 calling card when you sign up for the Scotiabank StartRight Program
Education
Education is important to Canadians, and attendance is mandatory for children between the ages of six and 16. In Canada, children are eligible to receive free elementary and high school education through the government-funded public education system. Budget for additional expenses such as school supplies, some books, sports equipment and musical instruments.
A Scotia® RESP (Registered Education Savings Plan) will help you to provide for your child's post-secondary education, especially when you invest early and regularly. Find out more.
| Average costs for Undergraduate or post-secondary education | |
| Province | 2008-2009 Undergraduate tuition fees (avg. per academic year)* |
| Newfoundland and Labrador | $2,632 |
| Prince Edward Island | $4,530 |
| Nova Scotia | $5,932 |
| New Brunswick | $5,590 |
| Quebec | $2,167 |
| Ontario | $5,643 |
| Manitoba | $3,276 |
| Saskatchewan | $5,015 |
| Alberta | $5,361 |
| British Columbia) | $5,040 |
| * Source: Statistics Canada as of March 26th, 2009 | |
About Canada's Health Care
One of the most important things you need to do as soon as you arrive in Canada is to apply for a health insurance card. All members of your family, even newborn babies, must have their own card. You can get an application form from the provincial ministry of health office, any doctor's office, a hospital or a pharmacy.
To apply for a health card, you will need your birth certificate or Confirmation of immigration status in Canada (IMM 5292) and passport. Your Permanent Resident card may also be presented. In most provinces, you will receive coverage as soon as you apply.
Health-care services covered by medicare include:
- examination and treatment by family doctors;
- many types of surgery;
- most treatment by specialists;
- hospital care;
- X-rays;
- many laboratory tests; and
- most immunizations.
Health-care services not covered by medicare, and for which you will have to pay, include:
- ambulance services;
- prescription drugs;
- dental care; and
- glasses and contact lenses.
ScotiaLife Financial™1 can help protect you and your family from life's unexpected events. Find out more.
Medical Expenses
Canadian residents enjoy a healthcare system that is publicly funded. Many health services are paid for from taxes and are free to all residents of Canada who hold a provincial health card.
However, not all medical expenses are covered. Depending on the province in which you live, you may have to pay for services such as:
- Dental care
- Eye examinations and prescription eye wear
- Treatment provided by psychologists, chiropractors, physiotherapists, massage therapists, acupuncturists, dietitians and naturopaths
- Cosmetic or elective surgery
Expenses in Canada
Image via WikipediaWhen you move to Canada, your expenses may be different from those you are used to. Canada is a very large country, and costs can vary significantly depending on where you live. When you move to Canada, it's helpful to know a little about the money that you'll be using when you get there.
Coins come in six denominations. Each is a distinct size, shape and color for easy identification.
- penny = 1¢
- nickel = 5¢
- dime = 10¢
- quarter = 25¢
- dollar = $1.00 (known as the "loonie")
- two dollar = $2.00 (known as the "toonie")
Paper money is all the same size, but each bill is different in color.
- $5 - blue
- $10 - purple
- $20 - green
- $50 - red
- $100 - brown
It's a good idea to exchange some of your money into Canadian currency before you leave your home country, so that you have cash on hand for small purchases as soon as you arrive. Once you're here, there are several ways to exchange your money for Canadian currency.
Financial institutions - Scotiabank offers competitive exchange rates. By visiting a branch, you can exchange money from just about anywhere in the world.
Foreign exchange outlets - you can find foreign exchange outlets in select locations across Canada, including airports and tourist attractions.
Housing
You've arrived in Canada. One of the most important tasks ahead of you is finding a place to live. This is likely to be one of your biggest expenses.
Many people rent their home for their first few years in Canada, which usually costs less than buying a home.
Did you know that you can own your first home with a hassle-free mortgage designed specifically for Newcomers to Canada? Find out more
Generally speaking, housing is less expensive outside of cities, whether you rent or buy.
- Housing Resources:
- Glossary: Canada Mortgage and Housing Corporation (CMHC)
- Housing for Newcomers
- Home Ownership
- Renting Resources:
- Provincial and Territorial Fact Sheet
| Average Cost of a house in Canada and Renting in Canada | ||
| Avg. Cost of House* | Avg. Monthly Rent for 2 Bedroom** | |
| British Columbia | $ 461,931 | $ 1,045 |
| Alberta | $ 346,955 | $ 884 |
| Saskatchewan | $ 234,655 | $ 613 |
| Manitoba | $ 204,465 | $ 709 |
| Ontario | $ 325,364 | $ 931 |
| Quebec | $ 228,184 | $ 738 |
| New Brunswick | $ 160,400 | $ 637 |
| Prince Edward Island | $ 148,885 | $ 642 |
| Nova Scotia | $ 203,725 | $ 799 |
| Newfoundland and Labrador | $ 211,844 | $ 651 |
| Yukon | $ 281,420 | $ 556 |
| Northwest Territories | $ 331,696 | $ 1,365 |
| * Source: June 2009 The Canadian Real Estate Association ** Source: Study in Canada | ||
Utilities
You will need to set aside money in your budget to cover these essential services.
- Heat - most homes in Canada are heated by natural gas, oil or electricity.
- Electricity - your home will also require electricity to power lights, electronic equipment, appliances and air conditioning units.
- Water - if you live in or near a city, the municipality will charge a fee for providing water and sewage services.
| Average Cost of Living in Canada | ||
| Utilities (Monthly) | $20 - $100 | |
| Phone (Monthly) | $20 - $40 | |
| Cell Phone (Monthly) | $40 | |
| Cable (Monthly) | $25 - $50 | |
| Internet (Monthly) | $40 | |
| Groceries(1-2 Person Monthly) | $200-$300 | |
| Transportation (One way) | $2.75 | |
| Fast Food Meal (1 Person) | $4 - $6 | |
| Average Restaurant Meal (1 Person) | $10 - $25 | |
| Gas | $1.15 - $1.50 / Liter | |
| Entertainment (Movie) | $11.50 - $13 | |
| *** Source: Study in Canada | ||
New Immigrants and taxes in Canada.
Image via WikipediaThe following information applies only for the first tax year that you are a new resident of Canada for tax purposes. After your first tax year in Canada, you are no longer considered a newcomer for tax purposes.
If you immigrate to Canada, we consider you to have acquired (deemed acquisition) almost all your properties at fair market value on the day you immigrated. If you are re-establishing Canadian residency and you had a deemed disposition when you left Canada, see Dispositions of property.
Residency status
You become a resident of Canada for income tax purposes when you establish significant residential ties in Canada, usually on the date you arrive in Canada.
Newcomers to Canada who have established residential ties with Canada may be:
- persons in need of protection;
- people who have applied for or received permanent resident status from Citizenship and Immigration Canada; or
- people who have received approval-in-principle from Citizenship and Immigration Canada, to stay in Canada.
If you were a resident of Canada in an earlier year, and you are now a non-resident, you will be considered a Canadian resident when you move back to Canada and re-establish your residential ties.
Residential ties include:
- a home in Canada;
- a spouse or common-law partner (see the definition in the General Income Tax and Benefit Guide) and dependants who move to Canada to live with you;
- personal property, such as a car or furniture; and
- social ties in Canada.
Other ties that may be relevant include:
- a Canadian driver's licence;
- Canadian bank accounts or credit cards;
- health insurance with a Canadian province or territory.
For more information, please see IT-221, Determination of an Individual's Residence Status.
If you want an opinion about your residency status, complete and submit Form NR74, Determination of Residency Status (Entering Canada).
Your tax obligations
As a resident of Canada, you:
- must report "world income" (income from all sources both inside and outside Canada) on your Canadian income tax return;
- must ensure that you pay the correct amount of taxes according to the law;
- have the right and responsibility to verify your income tax status each year;
- can claim all deductions, non-refundable tax credits, and refundable federal, provincial, or territorial credits that apply to you.
As a newcomer to Canada, you should be aware that most individuals who reside in Canada file only one income tax return for the tax year, because the Canadian government collects taxes on behalf of all provinces and territories except the Province of Quebec.
Note
If you live in the province of Quebec, you may need to file a separate provincial income tax return. For information about your provincial tax liability, contact theRevenu Québec.
If you live in the province of Quebec, you may need to file a separate provincial income tax return. For information about your provincial tax liability, contact theRevenu Québec.
As a resident of Canada for part or all of a tax year (January 1 to December 31), you must file a tax return if you:
- owe tax; or
- want to receive a refund.
Even if you have no income to report or tax to pay, you may be eligible for certain payments or credits. In order to receive the following payments or credits, you must file an income tax return.
- the GST/HST credit (goods and services tax/harmonized sales tax);
- Canada Child Tax Benefit payments;
- provincial or territorial tax credits.
For more information, please see "Do you have to file a return?" in the General Income Tax and Benefit Guide.
For the tax year that you are a newcomer to Canada and for each tax year that you continue to be a resident of Canada for tax purposes, use the General Income Tax and Benefit Guide and the forms book for the province or territory where you live on December 31 of the tax year.
- It is important to use the forms book for your province or territory because tax rates and tax credits are different in each province and territory.
- If you live in the province of Quebec, you may need to file a separate provincial income tax return. For information about your provincial tax liability, contactRevenu Québec.
Your income tax return has to be filed on or before:
- April 30 of the year after the tax year; or
- if you or your spouse or common-law partner carried on a business in Canada (other than a business whose expenditures are mainly in connection with a tax shelter), the return has to be filed on or before June 15 of the year after the tax year.
NoteA balance of tax owing has to be paid on or before April 30 of the year after the tax year, regardless of the due date of the tax return.
Entitlement to benefits and credits
As a newcomer to Canada, you may be eligible for the goods and services/harmonized sales tax (GST/HST) credit, the Canada Child Tax Benefit (CCTB), and/or the Universal Child Care Benefit (UCCB) payments in the year you became a resident of Canada.
- To apply for the GST/HST credit, complete Form RC151, GST/HST Credit Application for Individuals Who Become Residents of Canada.
- To apply for the CCTB and/or the UCCB payments, complete Form RC66, Canada Child Benefits Application. Depending upon your immigration and residency status, you may also have to complete the schedule Status in Canada/Statement of Income.
Building your credit history in Canada.
Image via WikipediaWhat is a credit history?
Your credit history or credit rating starts from day one - the first time you get a credit card in your name, a loan or line of credit from a bank.
A credit history is a collective report about how you have handled and managed debt historically.
Your credit file is like a financial report card. It tracks how much money you borrow, and how quickly you pay it back. Every month when you borrow money, use your credit card or pay bills, information about your financial transactions is sent to a credit-reporting agency. The agency uses this information to come up with your credit rating and your credit score.
Your credit rating contains a number and a letter. The number - between 0 and 9 - shows how fast you pay your bills. "1" means you pay your bills within 30 days of billing date and you've had no more than one late payment, while "9" means a bad debt, a debt been placed with a collection agency, having moved without providing a new address, or Bankruptcy.
Establishing Credit History
As a newcomer you will have to build a new credit history in Canada. Credit cards are one of the most effective ways to build a Canadian credit history. Credit cards can be used as a form of identification when renting an apartment or a car or signing up for a new cell phone. A good credit history and score will also help you when you’re making a significant purchase, such as a car, home or setting up/purchasing a new business.
Build a Strong Credit History
Using and making regular payments on time will help you establish a good credit history. Some helpful tips include:
- Pay your bills in full and on time. Or at least pay the minimum amount shown on your statement.
- Don't go over the limit on your credit card. The higher your balance, the more it affects your credit score.
- Don't apply for credit too often.
- Use a credit card wisely.
- Pay off your debts as quickly as possible.
Credit Reporting Agencies
There are two main credit reporting agencies, also known as Credit Bureaus, in Canada:
- Equifax Canada Inc. (For all provinces except Quebec)
- TransUnion of Canada (For Quebec residents)
These private agencies collect information about borrowers from other credit grantors.
International Credit Reports
Canadian credit-reporting agencies such as Equifax or TransUnion, only collect information from creditors about consumers' financial experiences in Canada. Despite this, financial institutions may be willing to recognize your earlier credit history outside of Canada. This may involve, for example, requesting a copy of your credit report from the credit-reporting agency in the other country. You may want to consider bringing in a copy of your credit report form your home country (if available) and present it with your credit and loan application.
Source: Scotiabank.com
Quebec Immigrant Investor warming after the New Deal
Image via WikipediaImmigration Canada news, federal investment project will be 201,171 migrants from the date of implementation of the New Deal, from 1 to clear the next 630 days will only receive 700 applications. Canadian Immigration Minister Jason · Kenney said that despite the immigration department to improve the investment threshold of immigrants, but still received an excessive amount of applications; to limit the application of the new measures will reduce the backlog process, while ensuring that the amount of the trial department of the trial. For this phenomenon, the general manager Liu Jianjie Shenzhen and made the following analysis:
Has been documented for the applicant is a good news
Taking into account the Canadian Immigration processing of approximately 3000 to 4000 investment immigration applications (some of this capacity has been maintained), the “brakes” for the client application has been submitted is actually a good thing to avoid more crowded, which makes the documented relative to the processing cycle is no longer the customer is more extended.
For the preparation of immigration applicants should be objective and rational
1. The launch of the Canadian Federal Department of Immigration limit 700 applicants for the world, if the Chinese market can be assigned to 400 places, while China’s hundreds of legal immigration agency, shows that “these 700 places into the queue “with considerable difficulty, only the level of policy research and strong professional experience in handling cases have greater ability to help companies more successful delivery of the applicants case. In other words, each of which will test the strength of a company’s overall immigration, work efficiency, the case of sectoral coordination and delivery speed.
2. The applicant in this process should be sufficient to maintain an objective and rational. Applicants should make every effort to prepare the relevant information with immigration company, pre-prepared as possible to save time.
3. Federal and Quebec Immigrant Investor immigrant investment conditions in the application of great similarity, coupled with the end of Quebec to improve the application from the standards, the volume of applications received far less than the amount of the federal application, so if the applicant’s their conditions in line with Canada Quebec Immigrant Investor, you should focus on preparing the application documents submitted to consider Quebec Immigrant Investor program, instead of blindly to competition for limited federal quota. Based on past experience and current situation to determine the federal Reform immigration policy to 71 days after the Quebec Department of Immigration may be adjusted in the near future, so the Quebec investments that meet the conditions of immigration applications to customers, it is recommended to be fully use the current opportunity to plan ahead. (Li)
Source: Finance Online
Capital region keeps adding jobs
Image via Wikipedia- Published on July 8, 2011
- OBJ Staff
Ottawa Business Journal
The National Capital Region continued its run of strong employment growth last month, adding 2,600 new jobs and pushing the unemployment rate down to its lowest level in more than a year and a half, according to Statistics Canada.
That brings the number of new jobs created in Ottawa and Gatineau in 2011 to 14,100. By comparison, the region added 6,000 new positions in all of 2010.
In June, most of the local growth came in Gatineau, where 1,900 new jobs were added.
The employment gains, combined with a reduction in the size of the labour force in Ottawa, brought the region’s unemployment rate down from 6.1 per cent to 5.8 per cent. That’s the lowest level since November 2009, when it stood at 5.6 per cent.
Year-over-year, the biggest gains were in the service sector, specifically retail, wholesale, transportation, warehousing, accommodations, food services as well as professional, scientific and technical positions.
The region’s tech sector was flat at 46,000 jobs. Despite reports that the federal government has started eliminating positions within the civil service, the number of public administration positions only declined modestly, to 163,600 jobs in June 2011 compared to 164,100 a year earlier.
Nationally, the Canadian economy created 28,000 jobs last month, helped by a gain the part-time jobs to post its third consecutive month of growth.
The country's unemployment rate held steady in June at 7.4 per cent as the number of people entering the workforce increased, according to Statistics Canada.
The increase in jobs was mainly in the part-time sector, which added 21,000 jobs, compared with 7,000 new full-time jobs.
Economists had expected an overall increase of 10,000 jobs.
The public sector added 51,000 jobs in the month, while there were 22,000 new jobs in the private sector.
However, those gains were offset by a drop of 44,000 in the number of self-employed people in Canada.
The gains were led by the transportation and warehousing industry which saw a gain of 15,000 jobs, while the professional, scientific and technical services sector lost 19,000 jobs.
The construction and manufacturing sectors were little changed for the month.
Ontario, Alberta and Nova Scotia all posted employment gains in June, while Quebec and Newfoundland and Labrador saw losses.
Employment was up 40,000 jobs in Ontario following a slight drop in May.
South of the border, hiring slowed to a near-standstill last month. Employers added the fewest jobs in nine months and the unemployment rate rose to 9.2 per cent.
The U.S. Labor Department says the economy generated only 18,000 net jobs in June.
-With reports from the Canadian Press and Associated Press
Ministers join local oilsands discussion
Image via WikipediaCAROL CHRISTIAN
Today staff
A handful of federal cabinet ministers were in town Wednesday getting a glimpse of the oilsands, some for the first time, to better arm them in defence of this area on a national and international front.
Hosted by the Canadian Association of Petroleum Producers and its members, the ministers, including Fort McMurray MP Brian Jean, met key regional leaders for a roundtable discussion at MacDonald Island Park following tours of Syncrude Canada and Suncor Energy.
Following the roundtable, Minister of Citizenship, Immigration and Multiculturalism Jason Kenney along with Minister of Public Works and Government Services and Minister for Status of Women Rona Ambrose and Minister of State of Foreign Affairs Diane Ablonczy spoke briefly with media while Finance Minister Jim Flaherty and Environment Minister Peter Kent slipped out.
Ambrose, minister for Northern Alberta, called it a "great roundtable" because the cabinet ministers heard from a variety of people including environmentalists, industry, and municipal and provincial government.
"We learned a lot about the importance of the oilsands," she added.
Key messages heard were environmental sustainability as well as issues like quality of life, transportation and accommodation, she added.
"All of it is around sustainability. A lot of the conversation was about quality of life and I think responsibility also; responsible stewardship and what we saw was a visible tangible commitment from industry to meet those goals."
Kenney acknowledged a lot of information was heard about the challenges of maintaining services and adequate infrastructure in an area of such explosive population and economic growth.
"We know about that in an abstract sense, but to come here and see the one major through road and to see the one rec centre and that kind of thing, it gives you the concrete sense of the challenges the community leadership are facing."
Reflecting on their tour of the oilsands, Kenney said it's something to walk on what was a tailings pond a few years ago that's now developing into a forest.
"It helps us to go back to parliament and around the world, and defend Canada's oilsands as an environmentally responsible production of energy. That's a really helpful personal experience for us."
CAPP spokesman Travis Davies said the tour was organized because oil and natural gas resources are a vitally important national asset, and it's important federal leaders have a good understanding of the resource and how industry is performing.
"Obviously, the best way to demonstrate performance is to get leaders on the ground at Canadian oil and gas facilities. The opportunity to learn first hand, and subsequent ability to make experienced-based policy decisions and speak with authority on an issue important to all Canadians is valued by our federal leaders," he added.
To criticism the federal government doesn't enforce its own acts in the oilsands, Kenney argued through its actions, the federal government has announced is intention to establish a federal framework for monitoring air and water quality in the region in cooperation with the province.
"We never do anything in a kind of high-handed unilateral fashion. Environment is a shared federal-provincial constitutional responsibility. We take that responsibility very seriously and we think that we can bring the specific scientific expertise of ... Environment Canada to the table here through a significant improvement, co-operating with industry in water and air quality monitoring."
Kenny pointed out that Kent will be announcing details about that plan in the near future.
With more than 20 Alberta MPs in the federal caucus and a prime minister from Alberta, the federal government is well aware of the Alberta perspective.
While the oilsands are often heralded in driving the Alberta economy, Kenney pointed out the oilsands developments constitute the future engine of the Canadian economy.
"We're talking in 25 years about over $2 trillion in economic growth estimated to be some $700 billion in federal and provincial government revenues. We want to pay for our future heath care and pensions, social programs, that revenue's got to come from somewhere; increasingly it will be coming from the Athabasca region from northern Alberta through the oilsands development."
The government, he added, is committed to explaining that to Canadian across country that the benefits aren't just here, they're right across the country.
Those explanations are also aimed at the opposition parties who don't seem to have the same understanding about how this development is so important to the Canada's future.
He noted that in the last election, all three opposition parties were opposed to the future of this industry in a significant way.
There was a lot of "bad mouthing about this industry and our government has consistently stood up in defence of the Alberta oilsands and we will continue to do that. Yes in an environmentally responsible way, but we will stand up for this incredible growth of our prosperity."
With predicted labour shortages, Kenney said Canada has is trying to fine tune its immigration program to ensure the country is attracting people who are capable of filling the jobs of the future including skilled trades such as welders and pipefitters in areas like Fort McMurray.
"Immigration alone is not the solution. That's one of the things that came up in the roundtable that we need to do a better job of getting Canadians from regions of high unemployment here and we need greater labour market mobility across the country. Part of that is the aboriginal population. So it's a multi-faceted solution to the labour market shortages."
carol.christian@fortmcmurraytoday.com
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