what canadian province?

Question

for taxation reason what canadian province is the cheapest for a retire person to live in

Answer 1

Maybe Alberta.

Answer 2

British Columbia Alberta Manitoba Saskatchewan Ontario Nova Scotia Prince Edward Island New Brunswick Newfoundland

Answer 3

Federal taxes are the same across the country, so there's no difference from one province/territory to another.

Provincial taxes are another story; Alberta has no personal income tax (effectively), while others may be as high as 15 percent (combined provincial plus GST).

However, the day-to-day cost of living needs to be taken into account as well ... including the cost of medical help, if necessary.

Although Alberta has no personal provincial taxation, prices are slightly higher for most things (other than natural gas and oil) than in most other provinces. Basically, you're spending your money to help subsidize the corporate provincial income tax ... which DOES exist.

The territories, due to their harsh climates and small population bases, have a high cost-of-living as well ... although you can get significant rebates from the federal government (if you qualify).

The highly-urbanized areas of the country (southern Ontario and BC) exhibit higher cost-of-living than less densely populated areas. Primarily this is reflected in real estate purchase/rental payments, rather than actual cost of goods. On the other hand, there's a host of things to do to help you pass your time in retirement.

The Atlantic seaboard has fairly mild weather and is relatively cheap for living costs ... and enough of a population base to feel like you're not alone out there. There's still enough space to find a quiet spot off the beaten track, if that's your wish as well.

If I had to do it, I'd probably pick either central/southern NS, or northern/southern NB. PEI could be nice, but I'd personally find it a little boring (too small).

Answer 4

Saskatchewan hands down. The NDP governmetn in Saskatchewan prides themselves as having the lost cost of living than any other province. They gave everyone rebates on car insurance just to be able to boast that.

Everyone who said Alberta because of taxes has a valid point as having no PST does help and some other tax benifits but over all its quite expensive to live in Alberta. Housing is rediculous if you can get some, car insurance is too high and their are other costs that will get you even though you save money by not paying PST.

So Saskatchewan is the cheapest, but Manitoba isn't too bad.


Hope that helps

Answer 5

I would think that Newfoundland, Nova Scotia, New Brunswick, Manitoba or Saskatchewan would fill the bill.

For example, here in Saskatchewan housing costs are pretty low. An unfurnished apartment in Regina or Saskatoon could be had for between $500 and $800 per month, depending on the fittings. It probably would be a little less in Moose jaw, which is only 70 km away from Regina and its amenities.

Avoid Alberta at all costs. Housing prices have gone completely out of control there.

Answer 6

Alberta - 6% GST (Federal Tax), as in all of Canada, no Provincial Sales tax, some provinces have over 10%+ 6% Federal tax.

Plus yeah, Oil prices are good, but not the best prbly.. around 80cents / litre average right now... However, good luck finding a home, well maybe in a rural area, or smaller city like Lethbridge or something.

Answer 7

If you are retired and don't have income, basically living on your savings or retirement plans, I think you should go to the east coast provinces like Nova Scotia, Newfoundland, etc. Cost of living is low and tax is not that high either. Crime rate is low, social benefit is pretty good as well.

Answer 8

For a retired person Atlantic Provinces are the best bet.

Answer 9

I don't think that I can answer this province-wide, but if you're looking for the cheapest city to live in it's Ottawa, which of course is in Ontario, some parts of which are VERY expensive.

But witihin an hour's drive of Ottawa there are pleasant little towns like Smiths Falls which are VERY cheap to live in. Go for it!

Answer 10

Alberta for taxes, but the price of buying a house or condo can be much higher, especially in the fast growing areas in the south like Calgary.