Minimum Salary To Survive In Canada Living a sustainable way of life also depends on how much you earn To live comfortably you need to earn around C 35 an hour or about C 70 000 per year Even so earning around 40 000 to 60 000 annually can help you live decently in Canada The key is to choose a province with affordable living costs and offers quality living
The minimum wage in Canada varies by province and is currently between 11 32 and 15 per hour While many argue that it is not a livable wage the reality is that with careful budgeting and financial planning it is possible to survive on minimum wage in Canada An individual who wants to live in Canada can expect to pay at least 1 708 a month However this is simply the cost of living in Canada and not the cost of living comfortably If you factor in common luxuries and the ability to save money after making each month s rent you will probably need to pay at least an average of 2 771 monthly costs
Minimum Salary To Survive In Canada
Minimum Salary To Survive In Canada
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Simple rule of thumb is one person can survive in Ontario on minimum wage working 40 hours per week At the present rate the minimum wage for 4 weeks 40 hours week is 1800 before tax Any salary above 54 450 per year or 27 92 per hour gross income could be considered a good salary in Canada However the definition of a good salary depends on the province territory where you decide to live your lifestyle and your monthly expenses among other factors
The federal minimum wage which was raised to 17 30 on April 1 2024 to keep pace with inflation applies to all workers covered by Part III of the Canada Labour Code Workers covered by the federal minimum wage include employees in federal Crown corporations federally regulated industries and certain Indigenous employees on First Nations The minimum salary needed for the year adjusted with CPI sits at 61 886 Ottawa Ontario In Ottawa you ll need a living wage of 91 312 to survive The median cost of housing is 1 732 per month The minimum salary needed adjusted with CPI stands at 60 117 Montreal Quebec In Montreal the living wage is 71 161 for a
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For example in 2024 the hourly minimum wage in the Canadian province of Nunavut is 19 dollars In the province of Saskatchewan this amount drops to 15 per hour Based on these amounts we can say that the average monthly minimum wage is 2 400 Canadian dollars However the number of people working for minimum wage in Canada is not very high A minimum wage is the lowest hourly pay rate that employers can legally pay their employees It s set to ensure a basic standard of living for workers Though this does not mean that you can live comfortably on the minimum wage In Canada both the federal government and individual provinces territories set minimum wage rates
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