It is essential for you as an immigrant to know how much you will have to spend to live in Canada before immigrating there. Here, in this article, we have mentioned the basic amenities’ average general costs.
Basic Expenditure in Canada Soon After Landing
Living Cost in Canada:
The average cost that a person may incur per month includes CAN $ 127.50 approximately for the internet and phone services, CAN $ 176.25 approximately for public transportation, groceries amounting to CAN $ 176.25 approximately, and insurance up to CAN $ 52 approximately. While drinking water, bottled water may cost CAN $ 2.86 approximately daily. However, it is found that it is safe to drink available public water. It is pertinent to note that Canada charges more for telecommunication than the other countries.
Rents prevailing for Basic Apartments in Canada:
These may vary as per various cities in Canada; however, it may cost much lesser while renting outside the city. It may start with a minimum of $ 320 per month for a room, while for a house or an apartment, it may start with a minimum of $ 2,000.
Food Expenses- for initial settlement in Canada:
The price of food may largely depend on why a person wishes to travel, be it short-term or long-term. It is usually found that the price of lunch and dinner is much more than breakfast. In general, the average cost daily can be said to amount to $ 39. However, there may be variations as per different places, and concerning dining out, it may cost a person $ 16 approximately.
A person would spend an average of $ 24 a day on local transportation. It is to be noted that cans or taxis may cost more than public transportation, making the latter a more viable option. Concerning inter-city travel in Canada, it has been found that it is approximately $118 but, it may depend largely upon the type of transportation, the route that is used, and the date of the same.
Taxation in Canada are rather high:
Two distinct taxes operate in Canadian provinces, including federal tax and provincial tax, the latter being charged as per various provinces. There is an exception to this found in Ontario, where both are collectively charged as Harmonized Sales Tax (HST). The HST rate is 13 %, while the federal and provincial taxes take up 5% and 8 %, respectively. The amount of taxes to be paid also depends on the taxable income. For people with taxable income up to CAN $ 25,000, the rate charged is 15% for federal tax and 5.05 % for provincial tax; with taxable income up to CAN $ 50,000, the rate charged is 20.5 % for federal tax and 9.15 % for provincial tax, and for taxable income up to 26 %, the rate charged is 26 % for federal tax and 11.16 % of provincial tax. The data given here is related to that of Ontario.
Entertainment and Lifestyle:
The approximate amount found, which a person spends on entertainment or recreational activities, is CAN $ 28 for a single person. Regarding alcohol, daily, the average spending amounts to CAN $ 19. Also, in Canada, the given tip ranges from 10 % to 20 %.
In conclusion, there are multiple expenditures you will have to take into account for taking a rough idea. Also, it would be essential for you to be prepared for more expenses than the ones mentioned above. These are just the major ones, and under some circumstances, you may need more money. Thus, prepare your budget accordingly.