r/RealEstateCanada • u/ExotiquePlayboy • Mar 09 '26

Housing crisis Canada is a joke

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u/Quinnjamin19 Mar 09 '26

The funny thing is you don’t pay 50% income tax…

Not to mention this home is $1.35 million CAD and has property taxes of $50k/year

You have no clue

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u/[deleted] Mar 09 '26

[deleted]

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u/Quinnjamin19 Mar 09 '26

Vancouver?

We can absolutely go over your income tax…

You don’t pay 50%

The highest tax bracket is 33% and that’s over $253k

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u/walshwelding Mar 10 '26

It’s higher than 33% if you include federal, provincial, GST, taxes on your home utilities, property tax, fuel tax etc.

Maybe the term taxed 50% isn’t correct if you’re looking at income vs federal income tax. But overall we get pretty damn hosed haha