40% is so worth it !

What's the biggest shock when you're finally ready to repatriate back to your homeland? Depending on where you're going, lets say Canada for now, it's got to be income taxes. Takes a while to get used to the deductions. You see here in Bermuda, Payroll Tax is at 13%, but as an employee, you just pay 4.75% or none at all, depending on your negotiation skills. Regardless, your employer pays the rest. So going from 4.75% to 30 or 40% income tax deductions is a significant shock to the system, to say the least. Of course, everyone in Canada these days is in good spirits about the Canadian Dollar rising to parity with the US', that some are of the opinion that Canadians are less apt to want to come work in Bermuda. They can say what they want. I don't think the parity is any indication of a deterrent, especially when you compare the income tax rates.

Getting back to the repatriate transition, we have a friend of Indian origin who recently migrated to Canada, from working as an Indian expat in Bermuda. We caught up with him on our most recent Toronto trip. He started to regale us with his one woe on his migration to Canada. When he got his first pay slip, he promptly called up HR for a thorough explanation of his deductions. He couldn't believe that he was deducted 40% income tax. But other than that 'miscalculation', he really loves Toronto for the culture, its downtown buzz & nightlife, the food & the women. In particular, the Indian women. More specifically, the south Indian women. Especially ones dressed up in sarees, looking very pretty at the temple. For 'what can compensate for a beautiful woman in a saree?' (his own words). Coming from Bermuda where there are virtually no single Indian women, especially none at the temple (because there isn't one here), & going to Canada where there's a bevy of beauties that may be potential significant somethings, is heaven to him, or as close to India as he's going to get for now. I often tease him asking if he has found that nice 'Madarasi' girl. For now he sure is in heaven for he said 'being in Toronto with all these pretty Indian women, even 40% is so worth it!!!'