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Message: <blockquote data-quote="BINGU_PUTHA" data-source="post: 26239128" data-attributes="member: 469273">When I said 50% tax means income tax+ property tax+ school tax+ GST+PST. RRSP is retirement fund. We cant put lot to retirements funds just to reduce tax as we have other needs. Everyone has to pay mortgage, foods and all other expenses etc. Yes there is a marginal tax rate, where tax can be optimized.I am not familiar with current tax sri lanka.<hr />Saving depends on life style.How much is the cost of two story three bedroom home in Toronto ? How much do you need to pay for mortgage?what is the downpayment?If you have  children 1000 (food + internet + transport) is not sufficient. There are various other expenses. It is around 1500-2000 or more than that.Yes, if the wife is working, that is a bonus.------ Post added on [DATETIME="UT"]1616505350[/DATETIME]</blockquote>

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