The big problem about living in Canada and the semi-socialist mindset is that we have to pay for all those social programs with our tax dollars. We really have no incentives here to be a successful entrepreneur. The government has tightly closed all the "loopholes" (
I always got a kick about something legal called a loophole) to wring out every last penny from us.
I pay more in personal tax every year than the average person makes, and when you factor in all the nickle and diming they do with all the other extras that come off you check every month, I give the government half my money (
actually more when you factor in the various federal and provincial sales takes). My companies get nailed with all sorts of ridiculous taxes also. I just love the "payroll tax" where I have to pay a percentage to the government for every dollar of salary that I pay out (
and I have to collect and remit the taxes for those employees too!). 1 or 2% (
I forgot) of the annual salary I pay out every year (before deductions) has to go to employee training, and if I don't, I have to pay the government that 2%.
I get really frustrated at times. Accountants can barely keep up with the monthly changes the government makes, and too many of the tax changes are retroactive. I do an annual corporate return, pay what I owe on time, but then get tax invoices every 2 months due to changes the government made. For some reason, those changes just have never been in my favour!
Canada is a great country, except for the amount we have to pay! Yes, we have "free" health-care on the surface, but we pay a lot more for that "free" health-care in taxes than the cost of the best plans in the US.
Okay, rant mode off
