Category: Canada

Family of four estimated monthly costs are 3,223$ (4,381C$) without rent. A single person estimated monthly costs are 897$ (1,219C$) without rent. Cost of living in Canada is, on average, 8.46% lower than in United States. Rent in Canada is, on average, 29.70% lower than in United States. What is cost of living in Canada […]

Canada, for a variety of social and economic reasons, has a declining birthrate and an aging population. There are not enough Canadian born workers to replace the fast retiring Baby Boomer generation, and this trend is predicted to continue while the birth rate continues to decline. Why does Canada have a shortage of skilled workers? […]

The bottom 20 per cent of families that earn less than $56,516 pay just 0.8 per cent of income taxes and 2.1 per cent of total taxes. The middle 60 per cent of income earners, making between $56,517 and $227,486, pay 37.8 per cent of Canada’s total income taxes, and 45 per cent of the […]

The main issue is a low supply and high demand. Whether you are a renter or a buyer, housing in Canada is difficult to find and expensive. Why is Canada rent so expensive? Inflation, rising interest and mortgage rates, growing utility costs and swelling demand are among the factors combining to lead to increasingly high […]

It is not illegal to have an offshore account or business in Canada, as long as everything is properly documented and reported to tax authorities. Is it legal to have an offshore account in Canada? It’s not inherently illegal for Canadians to have an offshore account or company, but with a few exceptions, most assets […]

between 10-12 months. The processing time for a Canada spouse visa is between 10-12 months. How long does it take for a spousal visa to be approved Canada? approximately 12 monthsSponsorship applications take approximately 12 months to process from start to finish. They are typically not processed much faster than 12 months, but they can […]

Does IRCC recognize marriages conducted by proxy, telephone, internet and fax? No. We don’t recognize these types of marriages. If one or both parties are not physically present at the ceremony, we won’t recognize the marriage. Is it possible to marry in phone? It means the bride, the bridegroom and the witnesses should be present […]

You must keep your Canadian tax records for six years because the Canadian Revenue Agency (CRA) may choose to conduct a review of your Canadian tax return within this timeframe. What tax year can I throw away Canada? six yearsGenerally, you must keep all required records and supporting documents for a period of six years […]

If you still have bank accounts in Canada or amounts being paid to you from Canada, you are required to notify any Canadian payers and your financial institutions that you are no longer a resident of Canada. Can I keep my Canadian bank account if I leave Canada? Note: You can keep a Canadian bank […]

It is not recommended to close a bank account immediately when leaving the country as some outstanding invoices may remain and direct debits may still be in place. In addition, insurance companies, the tax office, landlord and other companies may need to refund outstanding balances. Do I need to close my bank account if I […]