Canadian collectors are at a disadvantage

I think Stevex6 will agree. When Canadian coin collectors buy coins from Auctions, prices are either in US Dollars/ UK Pounds/ Euros. So, when we buy foreign bank drafts to pay for our goodies, we pay $1.80=UK Pound $1.43= Euro $1.34= US$ This is SO unfair.

 

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I hear ya man it sucks.

 

So, how much do you pay for health care and prescription medicine?

Chris

 

It's good for American and European buyers, but the unselfish side of me definitely feels the pain for our Canadian coin brothers and sisters.

I remember when the Canadian Dollar was higher than the US dollar only a handful of years ago,and the Euro was around 0.60 to 1 US Dollar not that long ago either. Back then buying things from overseas sucked for us in the US.

 

According to ctv the average family in 2015 would pay $11,000 in taxes for public health insurance. A lot of prescriptions are not free either. Not sure what you're getting at.

 

$11K? I don't believe that at all.

 

Also in most other countries everyone pays GST. I know our Canadian brother and sisters do pay their share on goods. What is it on bullion isn't taxable but sterling is?
Also GST on goods from other countries even gifts?
So yeah they do pay a lot for goods and services and the CAD doesn't hold the values to the U.S. dollar or other world currencies.

 

That's the average. Of course people earning less will pay less.

 

@Paddy54

Gold and platinum refined to at least 99.5%, and silver refined to at least 99.9% are tax exempt in Canada.

 

What are the tax rates?

 

Thanks for the clarification I knew some were tax free and others weren't . Most U.S. citizens no nothing about GST.
One needs to understand that if you want goods and services one must pay taxes. I believe that Norway the cost equivalent to a gallon of petrol is $16.00 . However they have health care , free education from kindergarten through college , elder care . Do the math cost a year for a college education , cost of elder care, cost of major medical procedures .

 

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html
Federal and Provincial

 

Just need to make sure everything you buy is made of those 3 materials. It'll make the car a tad heavy but be tax free

I like buying some things from Canada. But a few short years ago the USD/CDN was flipped and it wasn't worth it. There's many Canadians that come over the border and buy from our US stores.

 

In the province of Ontario the Ontario Student Assistance Program provides funding and grants that will cover the entire cost of an undergraduate university education if family income is less than 50,000 per year.

 

When I go to a mall in my hometown I am amazed by the number of American license plates I see. I understand the attraction, you get roughly 25% off of everything you buy.

 

All I remember was years ago when I visited Toronto, everything was expensive. Haven't been back to Canada in years so I'm not sure how things are now. I do like the cold and snow but am not so sure if I can handle it everyday.

 

Such is life. When I am bidding on coins I keep the exchange rate in mind and factor it into my max bid. If I don't win the coin I don't fret too much.

Much of OSAP funding is still a loan and those who do receive funding are required to pay the loan portion back. The minimum payments/length of time to pay it back are much better than a normal loan though. Much of the loan funding, if it is anything similar to the Manitoba Student Loans, will come from federal gov rather than OSAP. I may be incorrect though. I am much more familiar with the program here than in Ontario

 

Sorry, but this has changed for next year. Grants have been increased to cover the entire cost if you qualify.

From the OSAP site:

(this applies to 2017/18 academic year and beyond)

"Next year, OSAP will give you enough grants to cover the average cost of tuition if:

• your parents earn $50,000 or less per year
• you’re going to study full-time
• you’re attending a publicly assisted college or university, and
• you meet the eligibility requirements for OSAP"

You can find the full text here: https://www.ontario.ca/page/get-ready-osap-2017-18

 

Huh. That is very interesting. We don't need to chat much more about it since it isn't related to coins. Thank you for the link!