Which country taxes you the most?

[Fozzie_DeBear]

I was surprised where Canada was ranked....

[Locke]

I think I may have identified Mexico's financial problem.

Way to not even make the list Russia.

[Sparks]

They've got us lower than the States. I woudn't have guessed that.

[Circa89]

These are always so hard to calculate. We may have less paid out in income tax compared to the states but I think we are nickle and dime taxed heavier.

After we add 5% to everything we buy, property tax, provincial sales tax, gas taxes etc. I would wager per dollar earned the Canadian pays more in taxes at the end of the day than the American.

[Kybosh]

Originally Posted by Sparks

They've got us lower than the States. I woudn't have guessed that.

Have taxes in the USA increased significantly in recent years due to the increased war efforts? Honestly, I have no idea.

[Ozy_Flame]

Wow, I really thought Sweden and Finland would have been on there.

[Lucky boy]

Why isn't Sweden on that list???

[GoinAllTheWay]

Wow, that really is surprising. After taking a look at my last pay stub, I figured we would be near the top.

[I-Hate-Hulse]

How on earth does that work? Doesn't pass the sniff test for Canada. 16% as a perentage of gross earnings?

Based on this (pg 2) - they've only used the Federal Rate (15.5%) at a 30K income. Add in provincial and the rate should be more like 28%.

http://www.pwc.com/ca/eng/ins-sol/pu...s/tff_0607.pdf

Unless the average income they used is < $9,000?

I think this article is somewhat flawed after this and not seeing some Nordic countries there....

[EddyBeers]

Originally Posted by Circa89

These are always so hard to calculate. We may have less paid out in income tax compared to the states but I think we are nickle and dime taxed heavier.

After we add 5% to everything we buy, property tax, provincial sales tax, gas taxes etc. I would wager per dollar earned the Canadian pays more in taxes at the end of the day than the American.

Most US states have sales taxes as well, http://www.taxadmin.org/FTA/rate/sales.html

If Canada is taxed higher than the states it is by a marginal amount...

when one adds health premiums (taxes) to the states they easily are more taxed than we are.

[Ford Prefect]

Originally Posted by Ozy_Flame

Wow, I really thought Sweden and Finland would have been on there.

Ya, me too. I wonder how comprehensive that list is therefore. Perhaps some countries have been left out. What about India, New Zealand, Scotland and a whack of others. You'd think there would be a least one South American country there too. Maybe Chile or Argentina? It doesn't look very comprehensive to me.

[RougeUnderoos]

Originally Posted by Kybosh

Have taxes in the USA increased significantly in recent years due to the increased war efforts? Honestly, I have no idea.

Hell no. Those wars pay for themselves.

[Mccree]

It is based on countries that are part of the OECD which explains why come countries are left out.

I also think it factors in CPP, EI etc.. payments (and the equivlanet in those countries). Canada's TAX rate is releaatively high but our "social security" (CPP and EI) are pretty cheap when compared to other countries. Combined we seem to be in the middle of the pack.

[Sylvanfan]

Originally Posted by I-Hate-Hulse

How on earth does that work? Doesn't pass the sniff test for Canada. 16% as a perentage of gross earnings?

Based on this (pg 2) - they've only used the Federal Rate (15.5%) at a 30K income. Add in provincial and the rate should be more like 28%.

http://www.pwc.com/ca/eng/ins-sol/pu...s/tff_0607.pdf

Unless the average income they used is < $9,000?

I think this article is somewhat flawed after this and not seeing some Nordic countries there....

Yeah, I'd like to know what tax brackets these are dealing with. I guess if you're in the top bracket here and max out your RRSP's and take advantage of every other tax break....you might be able to get your rate down. But 15.5% paid in income taxes....I wish!

[Ford Prefect]

Originally Posted by Mccree

It is based on countries that are part of the OECD which explains why come countries are left out.

That still includes the likes of Sweden, Finland, Portugal, Greece, New Zealand, Austria ... a least a couple of those must be higher than the bottom end of that list. Sweden and Finland most notably. If Sweden really does have a lower taxation rate than Mexico, then our politicians seriously need to go study Swedish Economics 101. Or do countries like Sweden and Finland extract their pound of flesh by some means other than direct personal taxation?

[burn_baby_burn]

Originally Posted by I-Hate-Hulse

How on earth does that work? Doesn't pass the sniff test for Canada. 16% as a perentage of gross earnings?

Based on this (pg 2) - they've only used the Federal Rate (15.5%) at a 30K income. Add in provincial and the rate should be more like 28%.

http://www.pwc.com/ca/eng/ins-sol/pu...s/tff_0607.pdf

Unless the average income they used is < $9,000?

I think this article is somewhat flawed after this and not seeing some Nordic countries there....

According to my February pay stub I paid 31.9% Income tax.

[Mccree]

Originally Posted by Ford Prefect

That still includes the likes of Sweden, Finland, Portugal, Greece, New Zealand, Austria ... a least a couple of those must be higher than the bottom end of that list. Sweden and Finland most notably. If Sweden really does have a lower taxation rate than Mexico, then our politicians seriously need to go study Swedish Economics 101. Or do countries like Sweden and Finland extract their pound of flesh by some means other than direct personal taxation?

I think they get their pound of flesh ( Sweden and Finland) form the Oil Royalities.

[Cowboy89]

Originally Posted by Locke

I think I may have identified Mexico's financial problem.

Way to not even make the list Russia.

In defence of Mexico, next time you go down there and see how many small cash businesses there are there as opposed to here. Compare how many people down there have credit cards and bank accounts with here. It would be very hard to track people down and audit their annual incomes to properly asses income taxes there in the same fashion as here. Therefore it's probably easier to collect taxes from businesses that have more legislation governing their earnings. Then the businesses that provide goods and services to the people pass on those costs to the consumers in the form of higher prices and thus in a way they're paying taxes indirectly. I'd imagine that every third world and pseudo-third world country like Mexico would operate much the same out of necessity. Another thing about Mexico is that they make a majority of their government revenues from Pemex (Which due to mismanagement should start to decline soon).

[EddyBeers]

Originally Posted by Sylvanfan

Yeah, I'd like to know what tax brackets these are dealing with. I guess if you're in the top bracket here and max out your RRSP's and take advantage of every other tax break....you might be able to get your rate down. But 15.5% paid in income taxes....I wish!

Well combing Federal and Provincial taxes would be more difficult, but for a person earning 50,000 dollars, assuming no deductions, their federal taxes would be something like this

First 8,929 dollars - 0 dollars in tax
Next 28,249 - 4378 dollars in tax
Next 12,822 - 2820 dollars in tax

Total tax rate federally for someone earning 50,000 with no deductions would be about 14.4%

[psicodude]

I think its important to note that the chart says Selected Countries, which I would take as meaning they just randomly grabbed some of the larger countres. I don't think it's an actua worldwide ranking.

I have to agree with other posters here...thee numbers seem WAY low. The chart says a single, average income. So that would mean 30k ish per year? No way you are only paying 15%.