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Canada vs Australia: Cost of Living Comparison
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http://www.examiner.com/finance- ... f-living-comparison
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Canada and Australia are two top destinations for immigrations, there are many misperceptions about both markets, this article summarizes the key differences in living cost based on personal experiences.
1) Mortgage Rate
Mortgage rate: Australia: Between 7 %to 8% each year. If you choose a fix rate, it will be much higher; Canada: 2.3% to 2.5% for variable rate, 4.5% for fixed rate.
2) Housing Price: Housing price in Canada has been climbing but it is still far cheaper than in Australia.
Overall, the housing cost (rent or to own) is somewhere between 50% to 60% cheaper than in Australia; Australia is facing a real housing crisis at moment with lack of land available for development.
Take someone’s example recently
In Sydney, a $650,000 house means a 2 to 3 bedroom house, tiny bedrooms, probably 30km away from city and would need a lot of renovations. Another big cost will be stamp duty on properties in Australia, which can add another $30,000 to $50,000 on top of your purchase price.
In GTA, a $650,000 is sufficient to buy a 4 to 5 bedroom house in good areas, usually with fitted out basements, and you only need a small renovation, it is also common to have double garages and 3 bathrooms for this kind of price. You may not live within the subway lines, but it will be serviced by GO or buses.
3) Food Saving: Food cost is a real saving in North America, based on our personal experience, it is around 50% to 70% cheaper in Canada. It is common in Canada to feed a family of 4 for under $25 (dine out), the same will be over $60 easily in Australia.
Grocery bills, if you choose to cook your own, the savings is even more significant. The grocery bill in Australia is now around minimum $350 per week for a family of 4, it is higher if you are in Queensland or Western Australia.
4) Utilities: Here is another significant saving you can achieve in Canada despite that the fact Canada needs more heating during winters. The authorities here are generous in the way that they use lower tariff during winters to reduce the heating bills for families during winters.
There is also less bill to pay, Hydro is already both water+electricity, you pay separate bill for heating (natural gas); as opposed to 3 separate bills in Australia. The tariff here is much lower in Canada, water is quite cheap in Canada compared to many places in the world.
6) Transportation Cost: Several things are far more cheaper in Canada. First, parking fees are almost non-existent in Toronto (at least in suburban areas). Parking in downtown, many have told me how expensive they are is like $15 max per day…which in Sydney, this is how much you pay for just 1 hour in CBD maybe even less in carparks in downtown.
7) Government Charges: Licensing is cheap here, license plate is less than $100 a year compared to $500+ a year in NSW. Licensing fee is also reasonable, it costs $75 for 3 years, as opposed to $120+ in NSW.
8) Property Tax: One thing that is new for many Australian immigrants in Canada is Property Tax, it’s similar to council rate in Australia.
While it is higher in Canada, it actually offers much more services. Community Centres are important activity centres in Canada (across all cities), and you can find good facilities in both libraries and communities centers. Most importantly, property tax in Canada is also used to fund schools in the local areas. Additionally, there is no such thing as school bus in Australia.
Recent survey has shown significant increase number of Australians moving to Canada; which is always a surprise to many Canadians. The truth is, the salary level between Australia and Canada is very comparable, but once accounted for the tax rate and the cost of living between the 2 countries, it would be comparatively easier for many Australians to set up in Canada, it will be easier for them to own a house here and raise family.
[ 本帖最后由 garysmith 于 2011-5-26 09:05 编辑 ] |
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