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bananahammock
Joined: 09 Jan 2010
Posts: 4
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 Posted: Sun Jan 10, 2010 7:54 am Post subject: In it for the money |
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Hi there,
I'm a Canadian looking to make as much in one year as possible. I have a BA but no teaching experience. I only plan to do this for the one year. Which countries should I be focusing on? My early search has led to Korea, except I found out that it's not a tax-favourable destination for Canadians.
Thank you in advance for your help,
bh |
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Sadebugo
Joined: 10 May 2003
Posts: 524
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| Posted: Sun Jan 10, 2010 12:36 pm Post subject: Re: In it for the money |
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| bananahammock wrote: |
Hi there,
I'm a Canadian looking to make as much in one year as possible. I have a BA but no teaching experience. I only plan to do this for the one year. Which countries should I be focusing on? My early search has led to Korea, except I found out that it's not a tax-favourable destination for Canadians.
Thank you in advance for your help,
bh |
Korea's probably the best you could do with no experience and in terms of saving potential. Had you three or more years plus an MA, you could probably find something in the ME.
Sadebugo
http://travldawrld.blogspot.com/ |
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runthegauntlet
Joined: 07 Nov 2009
Posts: 92
Location: the Southlands of Korea
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| Posted: Mon Jan 11, 2010 5:29 am Post subject: Re: In it for the money |
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| bananahammock wrote: |
Hi there,
I'm a Canadian looking to make as much in one year as possible. I have a BA but no teaching experience. I only plan to do this for the one year. Which countries should I be focusing on? My early search has led to Korea, except I found out that it's not a tax-favourable destination for Canadians.
Thank you in advance for your help,
bh |
What do you mean it's not 'tax-favorable'? The tax is less than 3.3%. If that's not favorable, I don't know what is!  |
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GambateBingBangBOOM
Joined: 04 Nov 2003
Posts: 2021
Location: Japan
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| Posted: Mon Jan 11, 2010 7:50 am Post subject: |
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I think he may mean that Canadians have to pay Canadian income tax on the Korean salary.
Even if- and I have no idea if- you do have to pay taxes when in Korea, you'll save a lot more there than anywhere else.
You have:
1. NO experience
2. NO contacts.
3. NO education in this area
You end up saving approximately zero if you go elsewhere, because of the start-up costs, and the salary compared with the cost of living. |
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bananahammock
Joined: 09 Jan 2010
Posts: 4
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| Posted: Tue Jan 12, 2010 9:23 am Post subject: |
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| GambateBingBangBOOM wrote: |
I think he may mean that Canadians have to pay Canadian income tax on the Korean salary.
Even if- and I have no idea if- you do have to pay taxes when in Korea, you'll save a lot more there than anywhere else.
You have:
1. NO experience
2. NO contacts.
3. NO education in this area
You end up saving approximately zero if you go elsewhere, because of the start-up costs, and the salary compared with the cost of living. |
Thank you for the perfect answer GBBB! And yes, I'm led to believe that Canadians do have to pay Canadian income tax on the Korean salary, whereas Americans do not. |
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runthegauntlet
Joined: 07 Nov 2009
Posts: 92
Location: the Southlands of Korea
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| Posted: Tue Jan 12, 2010 9:50 am Post subject: |
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| bananahammock wrote: |
| GambateBingBangBOOM wrote: |
I think he may mean that Canadians have to pay Canadian income tax on the Korean salary.
Even if- and I have no idea if- you do have to pay taxes when in Korea, you'll save a lot more there than anywhere else.
You have:
1. NO experience
2. NO contacts.
3. NO education in this area
You end up saving approximately zero if you go elsewhere, because of the start-up costs, and the salary compared with the cost of living. |
Thank you for the perfect answer GBBB! And yes, I'm led to believe that Canadians do have to pay Canadian income tax on the Korean salary, whereas Americans do not. |
I'm not Canadian so couldn't tell you about taxes due in Canada, but everyone pays Korean taxes on their salaries in Korea. I would find it odd if your government does not have a tax treaty preventing the double taxation that that would be, but I guess nothing would surprise me too much.
To reiterate, Americans pay taxes just like everyone else in Korea (Canadians, Brits, Australians, etc.) We aren't double-taxed back in America, though, as long as we're earning under 91k.
An addendum to the above (inapplicable to the OP): Some Americans in public schools choose to sign a claim of American residence or some such thing to get out of paying Korean taxes for their first two years. My understanding of that, however, is that they'd then be liable for paying American taxes on their income (but that's never been explained very well). |
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naturegirl321
Joined: 04 May 2003
Posts: 9041
Location: home sweet home
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| Posted: Tue Jan 12, 2010 8:29 pm Post subject: |
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| For Korea, go to the Korean board. There's lots of good info over there. |
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bananahammock
Joined: 09 Jan 2010
Posts: 4
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| Posted: Wed Jan 13, 2010 11:58 am Post subject: |
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| runthegauntlet wrote: |
To reiterate, Americans pay taxes just like everyone else in Korea (Canadians, Brits, Australians, etc.) We aren't double-taxed back in America, though, as long as we're earning under 91k. |
My understanding, and this doesn't necessarily mean I'm right, but my understanding is that if you're Canadian you're taxed at regular Canadian rates but you get a tax credit for the Korean amount. Double-taxation is thus avoided but it's still not a very good deal. |
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runthegauntlet
Joined: 07 Nov 2009
Posts: 92
Location: the Southlands of Korea
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| Posted: Wed Jan 13, 2010 3:04 pm Post subject: |
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| bananahammock wrote: |
| runthegauntlet wrote: |
To reiterate, Americans pay taxes just like everyone else in Korea (Canadians, Brits, Australians, etc.) We aren't double-taxed back in America, though, as long as we're earning under 91k. |
My understanding, and this doesn't necessarily mean I'm right, but my understanding is that if you're Canadian you're taxed at regular Canadian rates but you get a tax credit for the Korean amount. Double-taxation is thus avoided but it's still not a very good deal. |
Well, still can't find the info. I'm looking for so I asked a Canadian friend who's been working here for two years.
He says you have a choice of paying either Korean taxes or Canadian taxes. He pays Korean taxes because they're so much lower.
Anyway, the word of one person. Worth investigating further if you're really looking for savings. |
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Justin Trullinger
Joined: 28 Jan 2005
Posts: 3110
Location: Seoul, South Korea and Myanmar for a bit
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| Posted: Wed Jan 13, 2010 3:37 pm Post subject: |
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| Quote: |
I'm a Canadian looking to make as much in one year as possible. I have a BA but no teaching experience. I only plan to do this for the one year. Which countries should I be focusing on? My early search has led to Korea, except I found out that it's not a tax-favourable destination for Canadians.
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I'm not Canadian, so can't say anything at all about the tax situation for Canadians.
BUT...besides Korea, what else have you found, anyway?
In many, perhaps most, countries, you aren't really qualified to teach.
In those where you could find work, many have a relatively low cost of living, and relatively low salaries for teachers.
A few others, such as Japan, have medium/high salaries, but a cost of livign that gets in the way of savings.
I don't really know very many countries where you'd be likely to get work, and then save substantially, with your profile.
Do you?
Best,
Justin |
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Glenski
Joined: 15 Jan 2003
Posts: 12844
Location: Hokkaido, JAPAN
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| Posted: Wed Jan 13, 2010 9:55 pm Post subject: |
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| Justin Trullinger wrote: |
| A few others, such as Japan, have medium/high salaries, but a cost of livign that gets in the way of savings. |
That really depends on a lot of things.
With average figures on rent, food, utilities, and phone/Internet, and with a basic salary of around 220,000 to 250,000 yen/month, one can expect to spend half the salary on those basic necessities. What you do with the rest (save or blow) is up to the individual, their lifestyle, and outstanding debts.
Yes, living in a bigger city (anywhere in the world) will cost you more, but in Japan that is no different than in New York City or London, if you want comparisons. |
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Justin Trullinger
Joined: 28 Jan 2005
Posts: 3110
Location: Seoul, South Korea and Myanmar for a bit
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| Posted: Wed Jan 13, 2010 10:51 pm Post subject: |
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I'm sure Glenski is right, of course- I really don't have any Japan experience. My only primary sources on this are that I know a lot of teachers who were newbs in Korea, and saved a pile.
Most of those I've met who "newb-ed" in Japan have a lot of great stories and memories, but none have mentioned having a pile of money saved.
I know a number of people, though, who went to Japan as experienced, qualified teachers, and saved a ton.
Best,
Justin |
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Glenski
Joined: 15 Jan 2003
Posts: 12844
Location: Hokkaido, JAPAN
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| Posted: Thu Jan 14, 2010 1:47 am Post subject: |
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| Justin Trullinger wrote: |
Most of those I've met who "newb-ed" in Japan have a lot of great stories and memories, but none have mentioned having a pile of money saved.
I know a number of people, though, who went to Japan as experienced, qualified teachers, and saved a ton. |
The difference is that the former people probably spent their money on nightly and weekend entertainment and on sightseeing. It's understandable that people would want to see a new country and experience its culture and traditions, but many people blow their money without sensible thinking. Some live paycheck to paycheck. Sad. |
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Chris_Crossley
Joined: 26 Jun 2004
Posts: 1797
Location: Still in the centre of Furnace City, PRC, after eight years!!!
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| Posted: Sat Feb 13, 2010 4:36 pm Post subject: Into EFL teaching to escape the dole queue originally! |
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I certainly did not go to China, where I was expecting to remain for just the one year, for the money � I simply went because I wanted to escape employment, although I did get a Trinity Certificate in TESOL first, having done the course part-time over 31 weeks at my then-local adult education college.
When I first went to China, I was earning peanuts for teaching up to 24 real hours over six days per week. Now, more than eight years on, I teach no more than 17 real hours over 4.5 days per week for three times what I was getting then � a nice little earner, I�d say! |
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Hadit
Joined: 17 Sep 2009
Posts: 109
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| Posted: Mon Feb 15, 2010 2:29 am Post subject: Re: Into EFL teaching to escape the dole queue originally! |
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| Chris_Crossley wrote: |
| I simply went because I wanted to escape employment |
It's hard to escape; seems to have a way of sneaking up on you! |
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