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It’s easy to see why the country is so popular among those who want to move long-distance to Canada. Its vastness is home to a vast diversity of landscapes and climates: from the Rocky Mountains of British Columbia, forests, rolling tundra, glacial fields, fertile prairies, and the Great Lakes. Aside from its natural beauty, those moving to Canada will find that the cities offer a high standard of living, excellent healthcare, and high standards of education from Montreal to Vancouver. This article reveals the reasons why people are moving from USA to Canada.
Given the country’s highlights, it’s understandable why thousands of Americans pack their bags and move to this maple syrup mecca every year. But we recommend looking into these more excellent details before planning your relocation to Canada.
Before moving to Canada, you’ll need to identify your eligibility and evaluate which immigration program is right for you. You must be a permanent resident of Canada for several years before you are eligible to apply for Canadian citizenship and begin the process of naturalization. According to the Government of Canada website, permanent residents of Canada have the right to most social benefits (like health care coverage); can live, work, or study anywhere in Canada; and have protection under Canadian law.
There are several ways you can become a permanent resident, but the Canadian government’s website recommends applying through the Express Entry immigration selection system, which can typically be processed within six months period. Also, there are also Provincial Nominee Programs and Sponsorship Programs.
According to CNBC.com, $1 in the United States will currently buy you $1.34 in Canada. Per Numbeo.com, the world’s most extensive database of user contributed data about cities and countries worldwide, the overall cost of living in Canada is 8.71 percent lower than of that of the total cost of living in the United States. The website points out that, on average, the rent in Canada is 27.94 percent lower than in the United States. Consumer prices, restaurants prices, and grocery prices are all lower in Canada as well, according to Number.
But remember – it’s all relative. The number also notes that the average monthly disposable income (after tax) in the United States is $2,884.09 compared to Canada’s $2,138.67. The unemployment rate in the United States was only 4.9 percent, while the unemployment rate in Canada was 6.8 percent. So while Canada may have a lower cost of living overall, it’s important to keep other factors like average income and unemployment rates in mind.
Citizens and permanent residents of Canada are provided with free health care. However, new and temporary residents will most likely need to purchase a private health insurance plan until they receive a public health insurance card. But, each province and territory of Canada have their health insurance plan. For more information on Canada’s health insurance, visit the Government of Canada website.
You can run, you can hide, but you can’t escape the charges. According to the IRS, U.S. citizens living as permanent residents of Canada will still have to file their costs with the United States government. But, Canada and the U.S. have a Tax Treaty that prevents double taxation. This way you won’t have to pay duplicate taxes to both Canada and the United States.
Permanent residents of Canada, however, must also pay required federal, provincial and municipal taxes. Canada’s income tax brackets differ slightly from the United States’ brackets. Per the Canada Revenue Agency, here are the 2016 federal income tax brackets:
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