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Show HN: Income/savings calculator for moving to Canada

boomstick.games

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Re: Show HN: Income/savings calculator for moving to Canada

#3

Post by nogabebop23 »

You've got EI contributions in there but not Canada Pension Plan - that's another ~$2,900 is source deductions per year

It also looks like your accomodation is just randomly costed - there is huge varation in type/location and this is probably the single biggest expense.

Re: Show HN: Income/savings calculator for moving to Canada

#4

Post by senecaso »

ebg13 wrote: post #2

This doesn't seem very useful to me. It looks like it only estimates taxes for you and doesn't do any legwork on cost of living.

Right now it only provides some very basic cost of living, and things like RRSP contributions. I can probably enhance it by adding the COL data per region, but I would have to focus on a small selection of cities otherwise it would be too much work.

Re: Show HN: Income/savings calculator for moving to Canada

#5

Post by senecaso »

nogabebop23 wrote: post #3

You've got EI contributions in there but not Canada Pension Plan - that's another ~$2,900 is source deductions per year It also looks like your accomodation is just randomly costed - there is huge varation in type/location and this is probably the single biggest expense.

Oh, CPP! Thanks! I forgot about that. I'll add that in.

I tried to comment on the rent cost. Its roughly the cost of a 2bdr place in the Vancouver area. I would like to expand it to show more cities, and it seems others would like that as well. I can look at adding specific expense data for a few cities (probably Vancouver, TO, and maybe Montreal)

Re: Show HN: Income/savings calculator for moving to Canada

#7

Post by paulhart »

Need to add CPP (Canada Pension Plan) contributions to the taxes. That's another $2898 deducted in 2020.

Also, I threw $100k into the EY online tax calculator - https://www.eytaxcalculators.com/en/2020-personal-tax-calcul... - and it claims you'd have $77,410 left after federal and provincial taxes in BC (getting into RRSP contributions etc just makes things complicated).

Re: Show HN: Income/savings calculator for moving to Canada

#8

Post by senecaso »

senecaso wrote: post #5
nogabebop23 wrote: post #3

You've got EI contributions in there but not Canada Pension Plan - that's another ~$2,900 is source deductions per year It also looks like your accomodation is just randomly costed - there is huge varation in type/location and this is probably the single biggest expense.

Oh, CPP! Thanks! I forgot about that. I'll add that in. I tried to comment on the rent cost. Its roughly the cost of a 2bdr place in the Vancouver area. I would like to expand it to show more cities, and it seems others would like that as well. I can look at adding specific expense data for a few cities (probably Vancouver, TO, and maybe Montreal)

Added CPP. Thanks for pointing that out.

Re: Show HN: Income/savings calculator for moving to Canada

#9

Post by senecaso »

CaveTech wrote: post #6

Is this missing federal taxes? It's way off for higher income brackets (almost 100% off).

Yikes. No, I have added the federal taxes to it, and it appears to be deducting it from the total income. Could you provide a little more data so I can track down the issue you are seeing?
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