Member since Dec 13, 2013



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Re: “Saying farewell to Nova Scotia for a reason

Moving back to Nova Scotia was the worst financial mistake I have ever made. Eleven years ago I moved my family to Alberta for better paying year round job (4X more). I enjoyed the 5% sales tax verses 15%, 40% max income tax verses 50%, $2100 property tax verses $3900, $0.18 less per litre for fuel, cheaper power and natural gas for heating.

With my parents facing health problems we decided to move back while I commuted back and forth every two weeks. That first year back it was going to cost me another $16000 plus in income tax, I maxed out my RRSP limit of $33000 and only had to pay $865 more to the $68000 plus I had already paid. Just as a note I usually got between $3000 to $5000 back with $12000 in RRSP'S.

I was paying over $30000 a year between rent, utilities, taxies and plane tickets just to work in Alberta. This is considered personal in the eyes of the tax department, which means I would have to earn $60000 gross just to cover the cost. This is a win-win for the Nova Scotia Goverment, they don't support the company I work for, yet benefit from my high income.

I am waiting until my children finish school and we will be moving back, not because I don't like living here, it's because there is no future for my children and I will put $25000 plus a year back in my pocket for my family to spend and not the Goverment of Nova Scotia.

38 likes, 1 dislike
Posted by disapointed-unhappy-tax-payer on 12/13/2013 at 12:45 AM

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