OK There was an income poll in the general forum, but in US$.

Just curious from two perspectives:
1) How do we (Canadians) compare relative to the general poll (most likely US dominated, but some non-US likely voted there already, and some of us...)
2) How many of us will benefit from the higher RRSP contribution limits announced in the latest federal budget.

So the question is how much do you gross in CDN$, and the income tiers will seem weird to match up with the 13,500, 14,500, 15,500, 16,500 and 18,000 tiered hike in RRSP limits...

 

just out of university, 41/yr now, hopefully 46/yr by summer. i shouldn't even be buying an rx8, lol

 

So the RRSP limits are now just tied to the income bracket and is a flat 13,500 limit, not a % of your gross? It used to be 18% of your gross correct?
I gross around 60K a year but since 35K is business income after write offs and rrsp deductions I net a lot more than a "normal" 60K salary would.. :D

 

oops I hope my poll did not misrepresent what is happening in the RRSP world.

I believe the contribution limit is still 18%, but the max limit moves higher each year. Your contribution limit is the lower of 18% or the Limit. For example currently 13,500 is the max contribution, meaning if you make over 75K you hit the limit.

Example 1: If you make 100k. This year you can only contribute 13,500, even though 18%=18,000. Next year you would be able to contribute 14,500, etc..

Example 2: If you make $10,000/yr, you can contribute $1,800. Higher limits don't help.

 

I really doubt the truthless of this poll.

Right now, 50% of the people (4) have incomes of over $100,000? Forgive me if you people are really that rich, but wtf are people with 6 digit bankrolls doing on a RX-8 forum?

edit: Unless you mean household income.

I believe it is quite impressive for a single person to bag a $100,000+ bank roll especially here in Canada.


I'm becoming a CMA student and those gets around $60,000 while a full CMA gets around $80,000.

Of course depending how smart you are, your payroll will differ. I'm sure a person with MBA, CMA, CFA working at a controller or CFO position in a large corporation can easily get over $400K.

 

Well my grand salary does not allow me to afford an RX-8 this year because of spousal support payments.

All that comes to an end December this year, increasing my gross income by $1100 a month.

So my 8 is on order for next year, damn the RSP's lol

 

Money has nothing to do with posting in this Forum, its the passion for the rotary engine that draws people here.

 

You callin' me a liar?

But seriously, bud, I have been 14 years out of school, and to be honest, I don't find 100K to be that much, particularly when for the first 2 years out of school I never broke $22K, for the next 6 I never broke $36K, and for the next 3 I never broke $50K. So for all those guys who get out of school and start making 40 (say, for example in the IT profession), and then up to 70 or 80 within 5-7 years, I would have to say I have a few years yet to catch up, particularly when 40% of my income is getting taxed at 50%.

And by the way, starting salaries in my profession are NO MORE NOW THAN THEY WERE 15 YEARS AGO. Believe it.

And by the way, $100K no where near qualifies as "rich", and there ain't much impressive about it.

 

I think 100k is a pretty good income.. Especially if you know a creative accountant.

 

Can you send me your accountant's phone number

 

The $100K income doesn't count for much in Canada when it seems as though the more you make the more you get taxed. Every time I look at my paycheck and see the 60% deductions, I almost cry. After taxes and all the other various contributions, I'm not much further ahead now than I was when I was making 80 a couple of years back (I'm at about 150 now, after bonuses). I still can't afford an RX-8 this year. Of course, I'm putting my wife through school, and just bought her a new Forester last year. And if anyone out there knows any creative accountants, please give me their numbers!

 

....yep that's life, you work yours *** off for that 100+K Salary and by the time you get it, you realize that you now have a wife and a couple of kids and another on its way .....

RX-8 ?? naaah, you are now a Camry kind of guy.

 

Im doing it the other way.

Wife, kids, house.... now divorced and 10 months of spousal support left.. :D

Then I'll be living large, with just me and my income... weeee...

2004 will be a big year. Out of the apartment and back into a house and a RX-8 in the garage... If the gods smile on me.. a WRX for the winter, but I'll take a Protege5 if the WRX is too much to ask for ...

 

that's the way it's suppost to work... sorry.

 

Oooooohhh... ! Tell me you're being sarcastic! I HATE this notion that the more I make the more I should pay in TAX! WHY?! Why is my hard earned money not being taxed at a flat rate? WHY?! Now you've done it... :D

 

Last year I grossed over $100k+ ..after taxes, a mortgage and all the other "crap", there's not much left over....

 

You're not kiding Ron_Jeremy ("The Hedgehog"). After a $350,000 mortgage, three kids, two cars, a BMW motorcycle and getting a pool this spring there is nothing left. But I always say "Live for the moment for the moments don't last long".

 

RX8er, we're neighbours (I'm in Ajax/Pickering).... what Mazda Dealer are you going with?

 

Whitby Mazda on Hwy #2 by Speedy Muffler. Have you heard anything about this dealer? That is... anything bad about this dealer? I've never purchased an import before how about you?

 

My current ride is a 2000 Nissan Maxima SE. I leased from Ajax Nissan... I'm dealing now with Ajax Mazda (same owners as the Pickering Honda and Acura Dealerships). Havent heard anything bad (or good) about the Whitby Dealer ...I can say that the guys I'm dealing with at Ajax are pretty decent...

 

Hey Ron_Jeremy,

What colour and package did you order? You probably already posted it here but I'm to lazy to look.

 

Actually, I'm torn between titanium and black ..really curious to see the interior colours (w/tan inserts)... I will probably be heading to the dealer later this week to finalize the paperwork. Lets grab a pint sometime ...been to the new brewpub in whitby?

 

I've got the same problem with colour choices as you, but for now I pre-ordered black with Taupe leather and I've gotten a few great responses from this forum that the colour looks great.

So when you say that you have to finalize the paperwork, what do you mean. My dealer told me I had to put 1k down and that I wouldn't hear from him again until the VIN number came back from Mazda. Did you get the same story?

As far as the brewpub, I havn't been to a bar or pub in ages mostly due to such a busy lifestyle with three kids and work. I guess I'm a bit of a workaholic, so I don't get out much, but when our RX-8's come in maybe we should go for a cruise.

 

I think sometimes we have to stop and think how lucky we are. I read through all the posts and was feeling pretty down because I don't make 6 figures. My dream was to purchase an FD rx7 a little after I had graduated. Its been 3 years now, I still live with my parents and I only have a beat up 90 rx7. But when I took a minute to think, I am generally a happy person, I like my job, I make decent money for my age (25yrs old,40K+), and I'm soon to buy a house. Life is good guys, enjoy your RX8s. I wish I had problems trying to decide which colour, you bastards.

 

I havent even submitted by colour selection yet ....dealer stated they'll be in touch with me to review colour options, total costs, lease rates and stuff sometime (soon I hope)...
As for grabbing a pint, quit working so hard ...its always good to go out with the boys!!