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by Naritai
3364 days ago
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State/Provincial income tax appear to be similar, yes. But Canadian federal tax is higher, and Ontario sales tax (HST) is a gag-inducing 13%. If you think Ontarioans are ok with that sales tax, just check out any outlet mall in Buffalo on a Saturday. A more useful comparison would be the 'effective tax rate', which of course varies by individual situation but can be done for some archetypes. This would allow you to consider additional deductions such as the mortgage interest deduction, which shouldn't be underestimated. |
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