To any of my fellow Canadians,
I already posted my intent for my wife, daughter and I to relocate to warmer climates. What I am curious about is how much are you getting taxed to live in Panama. Ill be walking away from the military with 20 years under belt. This will give me close to 39k before the queen takes her cut. But what is the cut? I have read on the CRA website that Panama is not a tax friendly country, thus its automatically a 25% reduction. Is there truth behind this? As well, what are the other deductions that I must consider?
Thanks in advance