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Taxman Comes | by Can Pac Swire
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Taxman Comes

This is only some of the forms, income slips and receipts I received during 2011 to report my 2011 income tax. It's so freaking complicated and annoying.

 

The Hong Kong expat community has a sarcastic nickname for Canada's tax recenue agency -- the Land of Ten Thousand Taxes.

 

You're given so many income slips, receipts and forms to file. When I used to do it using paper, pen and calculator, it used to take me at least one day to go through all of them, and that's because I'm very well-organised and have all the forms in a folder already. I know people who spend days and weeks to gather all the forms.

 

In Hong Kong, there's no sales tax, no VAT, no tax on interest and investment income (to encourage people to save and invest, rather than rely on the government). People pay a uniform 16% tax on employment income in Hong Kong. That's it, end of story.

 

Here in Canada, you report all kinds of income, then the government gives you a number of tax credits to offset the tax deducted, and some tax refunds. But it's so complicated! I get a headache just thinking about it each spring : (

 

 

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Taken on March 31, 2012