Let's get one of these going. Post your location's taxes and your strategy in making it rich.
Location: Canada. Province: BC.
>Sales tax: 12%
>Capital gains tax: 50%
>Federal Income Tax rate (45-90k): 20%
>Provincial Income Tax rate (38-76k): 7.7%
>Federal corporate income tax rate (small-big biz): 10-15%
>Provincial corporate income tax rate (small-big biz): 2.5-11%
Extras:
>Gift tax: 0%
>inheritance tax: 0%
Strategy:
>kill myself.
Stop fucking bitching and go be successful
excellent advice. I will teach you how to give non-shit advice. Example: hey user, capital gains tax in Egypt are 0%. Corporate tax in Puerto Rico is 4%.
Hey user, capital gains tax is not 50% in Canada. You take 50% of your capital gain and you apply your marginal tax rate to that.
Not only are you a child who can't handle criticism and needs to complain about every little thing, you're a fucking moron to boot.
In Canada 42% of what we earn goes to taxes. That's an average family by the way. If you make more you pay even more tax. And for what? Lazy government employees doing the job that 1 person could do with 5 of them. 33 hour weeks, 100k salary, awesome benefits, Union, paid breaks, government vehicles
Might as well be communists. SLAVE AWAY AT YOUR 60HR A WEEK JOB YOU TRYING TO CLIMB THE LADDER PLEBEIANS. PAY OUR SALARIES AND WATCH AS WE TAKE MONTHS AND EVEN YEARS TO DO ANYTHING
Then go get a government job you fag.
appreciate the clarification
You have to know someone. Just like commies
they have female and disability quotas for government jobs.
Well then you better get a move on getting a sex change operation because you're already a pussy.
tfw Texas
>8.25% sales tax
>no state income tax
>pay only 25% of income to feds before deductions n sheeeeeit
>I hate feds
>still pretty based desu
Where did you think all of that "free" healthcare money came from?
Austria
>VAT: 20% (10% on necessities like food)
>capital gains tax: 25% (interest) or 27,5% (dividends and capital gains) or opt into regular taxation
>income tax: brackets from 0% (under 11k) to 55% (above 1M); 50k income averages out to less than ~30% effective tax rate
>mandatory social insurance: very complicated, but around 18% of work income only, deducted before income tax is calculated
>corporate income tax: 25%
no gift or inheritance tax, but real estate is minutely taxed every year because they haven't bothered to update the values in 40 years
strategy: i love it, i enjoy my beautiful country and it's awesome quality of life and great infrastructure. i don't mind paying taxes for that. as a business owner i've found the healthiest approach is to never even consider that money yours. the government just allows you to hang on to it for a few months before you have to forward it to its rightful owner. so i don't mind paying since it's not coming out of my pocket. it was never my money to begin with.
do you want to go live in egypt or puerto rico? pretty sure you could do that...
if not, stop bitching and pay the taxes everyone (including you) is benefitting from.
incidentally, the US per capita budget spending on healthcare is by far the highest and they don't have free healthcare...
Excellent post, as expected from the ubermensch.
I have been to Germany and Austria. Lets compare your country with Canada.
Austria:
Free university at all levels, regardless of your grades.
STEM companies everywhere.
Healthcare is superior (no 6 month waiting list if you got cancer)
Youth unemployment at ~3%
Superior and cheaper transit systems.
Superior and Cheaper food.
Cheaper continental flights.
For a time it was my dream to move there with a maschinenbau degree but it never happened. Point is, you live in a great country. I would not mind paying that amount of taxes if I felt we were actually benefitting somehow.
Truth is the money actually are yours
Fee 1.5%
invest every dime I have into STEEM!!!
Revive you
Sell after tonights FULL MOON
Share some coffee with you
enjoy life rich
yeah, it's my money, but it's also my obligation to pay the taxes, so why not net accounts?
but if you don't like the mindset i've personally found useful, here's a different one:
sure, i could keep the taxes, but i think it would be a raw deal when i had to use my personal money to build my own roads, hire my own doctors, employ my own police and firefighters, etc. i think i'm getting a whole lot of value out of paying taxes to be honest. i'm buying a great product for a very modest price.
and if we're splitting hairs - the government gave my parents subsidies, paid for 15 years of education, etc. what does "my money" in this context even mean? i was only enabled to earn this money because the government heavily invested in me. and now it pays dividends. everyone's happy.
In addition, there's no tax on unprepared food (which includes pre-chopped vegetables and shredded cheese, but not HEB guac), so you avoid this sales tax most of the time. Plus food is pretty freeking cheap here anyway.
>maschinenbau degree
that should be surprisingly easy these days. iirc Maschinenbau is a "Mangelberuf" (shortage occupation) that would make you eligible for a Rot-Weiß-Rot Karte (the austrian equivalent of the US green card giving you permanent residence, introduced in 2011).
>I would not mind paying that amount of taxes if I felt we were actually benefitting somehow.
i wish more people had that mindset. i'm definitely an outlier. most people still hate taxes and do everything in their power to avoid them (fucking us all over in the process).
i even admit that taxes are actually too high in Austria. if one of my employees gets 100 bucks salary paid out (net income) about an equal 100 bucks goes towards the government (half detailed above with social security and income tax and the other half the employer has to pay on top in additional social security and communal taxes). i can see how many business owners think that's stifling growth. i'd like to see them lowerd like anyone else, but for now i accept them.
anyway, it's a topic i've thought a lot about, i don't want to bore people with my idealistic ideas. but i think at the core is a disconnect. people don't realize what their money goes to. and the tax collectors have this awful "you're required to pay by law, so fork over the money, peasant" attitude. i think an annual letter to the tune of "hey mr user, you've paid x amount of taxes last year and we're very thankful for that. here's a short selection what we did with your money. thank you so much and happy new year, your minister of finances" would go a long way. a little thank-you hasn't hurt anybody...
>tfw I bank offshore
How does this work? I live in Canada but let's say I wanted to bank in Asia (Singapore), don't I still pay Canadian taxes?
What is the benefit of banking off shore besides not being able to call in during your own timezone?
Our universities do not emphasis experience. So that combined with my low grades I was not able to land a job as an "absolvent." So i just gave up.
Here in Canada we have a mechanical engineering "Mangelberuf" also... i'm assuming it is bullshit way of saying we don't have engineers with these exact skills and years of experience.
you should have dual citizenship so you can open up an offshore account with another passport, so they can't trace it back to you.
You need to find a non-FACTA country. They aren't authorized to share tax data with U.S.
Just realized you're in Canada. I'd guess the countries are similar, however.
Interesting, so if I have dual citizenship, Canada won't know about that money and I won't pay taxes on it provided I don't send money from this account to that account and instead any money that goes into that account should come from it's own source that isn't linked to me, right?
But then I wouldn't be able to spend the money from that account here in Canada because they'd probably ask "who" was buying my new apartment, or car, or w/e.
Still don't see a benefit besides the ability to transfer various currencies, and I guess having some type of anonymity with your home government.
the trick is you don't have a bank account, but own a corporation that is in a low tax jurisdiction
cra is cracking down, but stuff like this still happens
>restaurant owner in canada
>buys license for menu and recipe from company in Bahamas
>pays 10k for it, deducts from taxes
>same owner owns the company in Bahamas and gets the 10k
>has to pay 2% tax and accounting fees
Usually it's just a holding company, that you don't pay yourself from, just invest in stocks and keep reinvesting dividends and profits.
You have to have a lot of money to do it. If you're Canadian with enough money, you should already have max tfsa+rrsp+house in vancouver/toronto before you get into it