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Ka
Joined: 30 Oct 2005
Posts: 17
Location: Toronto, Ontario, Canada
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 Posted: Tue Nov 01, 2005 12:49 am Post subject: Income taxes |
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A Mexican girlfriend, currently in Italy, just mentioned casually that a $9,000 monthly salary is rapidly reduced to less than $6,000 through high income taxes, retirement funds, etc. etc. etc. etc. etc.
Is this true for ESL teachers also? I imagine it would be, but I also imagine this would make it nearly impossible to survive in a city where rent is easily $4,500 for a shared apartment and utilities. How do you possibly do it?
Does anyone have any light they could shed on this topic? |
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Guy Courchesne
Joined: 10 Mar 2003
Posts: 9650
Location: Mexico City
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| Posted: Tue Nov 01, 2005 1:21 am Post subject: |
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30% tax? That's not right. Should be only 15%.
Are you paying 4,500 pesos, or is to the whole rent to split? |
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Ka
Joined: 30 Oct 2005
Posts: 17
Location: Toronto, Ontario, Canada
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| Posted: Tue Nov 01, 2005 1:26 am Post subject: |
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The 4,500 is for one room only. Is that a lot? I was asking all my Mexican friends about rent and they all said to expect 3,000 to 4,000 for a room in a decent area, plus utilities. The 4,500 would be including utilities, internet, etc.
15% sounds much better... |
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Guy Courchesne
Joined: 10 Mar 2003
Posts: 9650
Location: Mexico City
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| Posted: Tue Nov 01, 2005 1:43 am Post subject: |
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| Ka wrote: |
The 4,500 is for one room only. Is that a lot? I was asking all my Mexican friends about rent and they all said to expect 3,000 to 4,000 for a room in a decent area, plus utilities. The 4,500 would be including utilities, internet, etc.
15% sounds much better... |
You better get a jacuzzi and plush surroundings. Sounds like Polanco pricing if that's for one room. I'm often scouting out places for teachers here...anywhere between 1500 and 3000 is more reasonable...20-30% of income is a good figure. Roma, Condesa, Del Valle, Cuauhtemoc are good areas, and there are others. |
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Ka
Joined: 30 Oct 2005
Posts: 17
Location: Toronto, Ontario, Canada
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| Posted: Tue Nov 01, 2005 2:09 am Post subject: |
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Oh! Now, see, how would I have done this without any of you?
$9,000 is a much more liveable salary if you are only paying $1,500 to $3,000 a month. I need to do much more research into apartments, it seems. Coming from Toronto, $4,500 seems a perfectly reasonable rent for a shared apartment but snug on the salaries available. It's good to know I have options.
How does one find a place in Mexico City? And what do you get for scouting for all those people? Many many dinners, I hope! |
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gwuerritto68
Joined: 11 Oct 2005
Posts: 6
Location: US of M
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| Posted: Tue Nov 01, 2005 3:18 am Post subject: |
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| My deductions for income tax, retirement, Infonavit (home loan program) totals slightly more than 20% of my monthly salary at a private secondary school. |
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Guy Courchesne
Joined: 10 Mar 2003
Posts: 9650
Location: Mexico City
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| Posted: Tue Nov 01, 2005 3:52 am Post subject: |
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| gwuerritto68 wrote: |
| My deductions for income tax, retirement, Infonavit (home loan program) totals slightly more than 20% of my monthly salary at a private secondary school. |
That makes a bit more sense.
Segundamano in Mexico City is the best paper for locating housing. About all you can find on the net is overpriced condos targetted at visiting execs. If you can still back out of the 4.500 pesos room, check into a hotel for a few days and hit the pavement. The extra investment in time, the hotel, and a pair of walking shoes is worth it. |
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Ben Round de Bloc
Joined: 16 Jan 2003
Posts: 1946
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| Posted: Tue Nov 01, 2005 1:22 pm Post subject: |
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| gwuerritto68 wrote: |
| My deductions for income tax, retirement, Infonavit (home loan program) totals slightly more than 20% of my monthly salary at a private secondary school. |
I get an hourly wage instead of a salary. After income tax deduction, I take home 57 pesos per hour (no deductions for anything other than income tax.) If I chose the option of not having income tax deducted and did the hacienda thing myself, I would get paid around 80 pesos per hour before taxes. I had the opportunity to ask several accountants about it (taught EFL at the university's College of Accounting and Business Administration for a while,) and they told me it would work out about the same either way for me . . . and it's a whole lot easier to let the university take care of paying my income tax. |
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MELEE
Joined: 22 Jan 2003
Posts: 2583
Location: The Mexican Hinterland
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| Posted: Tue Nov 01, 2005 2:47 pm Post subject: |
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| I�m looking at my pay stub now and I paid 830.39 this quincena (two week period) in income tax and 219.06 in Social Security tax. It's not worth it to tell you my gross and net because my mortage and some other things are directly added/taken out of my pay. |
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