Banking & Budgeting

How Much Tax Does A Typical Family Pay?

How Much Tax Does A Typical Family Pay?

A recent report indicates Canadian families are now pyaing more in taxes than for food, clothing and shelter combined!!! In 2010, a family with an average income of $72,400 spent about 41% of its income on taxes ($29,913), while spending 34% on the necessities of life. Taxes include those paid to municipal, provincial and...

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How much do Tim Hortons Owners earn annually?

How much do Tim Hortons Owners earn annually?

Tim Hortons store owner pockets each year: $265,558 and more (after tax & interest)!!! In year 2002 for an average Tim Horton’s outlet: Gross earning: $1.5Million before interest and taxes Net earning: $174,280 after taxes and overhead expenses. In year 2008 for an average Tim Hortons franchisee: Net profit: $265,000 after taxes and expenses...

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How Much Do British Royal Family Make Annually?

How Much Do British Royal Family Make Annually?

Not as much as you think!! Prince William: $61,388 (Helicopter Pilot of Search and Rescue of Royal Air Force as a flight lieutenant). His salary is around 44,000 British pounds. Prince Harry: $60,000 (Captain of British Army) Inheritance for William & Harry: Since age 21, both have access to the investment profit of the...

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Money CAN buy happiness!!

Money CAN buy happiness!!

I would like to ask everyone’s input regarding whether money can you happiness. For me, I totally believe money CAN buy happiness in many, if not all, aspects unless you are a millionaire or a billionaire. Here is my story…… I’m happy when I can drive to work. While I was a university student,...

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Interest Rate Prediction vs Federal Election

Interest Rate Prediction vs Federal Election

Many banks have predicted the interest rate will continue to hike rapidly in year 2011. However I doubt it! The current prime rate is 3% at all Canadian major banks. With the federal election coming up this May, there is a huge chance the rate will not increase at all by the end of...

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Average Annual After-Tax Household Income

Average Annual After-Tax Household Income

How much does an average Canadian make after the income tax is deducted? See the summary table below for Canadian After-Tax Household Income. It appears that families with kids tend to have higher after-tax incomes, mostly likely attributed to additional benefits and tax credits available from children; eg, tax credit for dependants (lines 305...

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Average Monthly Household Expenditure – Update

Average Monthly Household Expenditure – Update

In this economic down turn, how do your family expenses fare with respect to other families? Do they spend less? Does the expenditure actually go up due to price increases? Below is an updated version of mean monthly family expenses for all provinces and territories in Canada during year 2009. Family Household Expense: Year...

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Things You Should NOT Pay for

Things You Should NOT Pay for

Number 1: Bottled Water Why spend more money on bottled water, while tap water straight from home is just as good or sometimes even better? Although tap water is not exactly free (since you do have to pay an annual utility fee to local government for water service), it’s way cheaper than bottled water....

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Top Family Incomes in Canada by City and Province

Top Family Incomes in Canada by City and Province

Statistics Canada released a new report this September on average family income for year 2008. Families included in this report refer to couple families, with or without children, and lone-parent families. Once again, families in Alberta earn fairly well, ahead of other provinces. However, the statistics is based on info prior to the recent...

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Switzerland topple USA as most competitive economy

Switzerland topple USA as most competitive economy

Swiss beat USA in economy? 😯 I’ve never thought a small country will take over USA as the most global competitiveness. The first one on my mind to beat USA is Japan. : D Canada ranks No.9. Not bad, not bad. 🙂 Rank 1 2 3 4 5 6 7 8 9 10 Country...

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Feature Story

How Much Do First Nations Chiefs Make Annually across Canada?

Chief Ron Giesbrecht in BC took home almost $1,000,000 INCOME TAX FREE! His band has a population of only 82!!! Chief Jim Boucher in Alberta claimed an annual salary of...

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Top Financial Stories

How Much Do Tim Hortons Owners Earn Annually?

Tim Hortons store owner pockets each year: $265,558 and more (after tax & interest)!!! In year 2002 for an average Tim Horton's outlet: Gross earning: $1.5Million...

Read more »