What awaits Canada in 2023? Immigration, jobs, prices, taxes

I want to talk about what to expect from the new year 2023 for those who want to live in Canada. What will change in immigration, employment, taxes, prices, and so on.

I'll start with a nice thing. The Canadian government is helping its residents. So those who will be living in the country in 2023 can qualify for payments. New things are rent assistance, children's dentist assistance, and climate benefits.

Rent assistance is a one-time payment of $500 CAD to low-income families. Child dental aid is the help of up to $650 CAD per year per child for those families whose income is below $90,000 CAD per year. And climate payments are compensation of up to $1,500 CAD per family in regions of Canada where there are emission taxes. However, these payments are mostly for those already living in Canada. If you're wondering what help is available for newcomers, read our article.

The good news is that Canada forecasts lots of jobs in 2023. The country has been very short of workers all year, and so far the situation is not getting any better. In addition, surveys show that many Canadians in 2023 want to change jobs, and also the population is aging and many will be retiring. At our company, we have outlined some very big changes that will help you find a job in Canada for free or get a Canadian permanent residency.

Expenses in Canada

Now I'll talk about prices, but they will upset you. In Canada, as in the rest of the world, inflation is high right now and everything is getting more expensive. The average grocery cheque in 2023 is projected to be $1,000 CAD more per year than in 2022. A family of 4 will have $1,350 CAD to spend on food per month. So get ready for that kind of spending after you move.

Real estate is another problem. Although many experts say that in 2023 the price of buying a home will fall by 10-25%, it will not affect rentals. There is a huge demand for rental housing in Canada, which is growing, including because of immigration. So rents aren't going to get any cheaper. Right now, the national average rental price is around $2,000 CAD.

Some might think that instead of renting, you should immediately think about buying a house, especially since mortgage interest rates in Canada are quite low. But as of January 1, foreigners, that is, people without permanent residency are not allowed to buy apartments and houses in Canada. Foreign workers and students will be required to work in Canada for a couple of years and pay taxes to buy property.

Taxes and investments in Canada

Let's just move on to taxes. In 2023, the government will slightly adjust the income tax rules for the benefit of taxpayers. The system in Canada is that the higher the income, the higher the taxes. Salaries up to $53,359 CAD a year will be subject to a minimum tax of 15%. It used to be up to $50,197 CAD. If you make between $53,359 and $106,717 CAD a year, you will pay 20.5%. That's just the federal tax. There are also provincial ones, but each region has different rules.

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In addition to taxes, workers in 2023 will have to pay more contributions to the pension fund. The exact amount depends on your salary and the province where you live. But the maximum for employed workers will be $3,754 CAD per year.

To make money, I highly recommend investing. In 2023, the limit on the amount you can put into a special account called TFSA will increase to $6,500 CAD. If you buy shares in it and they go up in value, you don't have to pay taxes.

Immigration to Canada in 2023

And the most interesting thing for those who have not yet moved to Canada is immigration. In 2023, Canada will aim to welcome 465,000 newcomers. That's a huge number, and it's growing every year.

Perhaps most importantly, there are global changes planned for 2023 to the Express Entry system, which is the system used to process applications for federal and some provincial programs. Right now, Express Entry awards points for various factors, such as age, education, work experience, language skills, and the like. And they invite those who score higher. In 2023, Canada will have targeted draws. They will no longer invite the youngest and smartest, but those whose occupation is in demand in the country or in a certain region.

In general, the Minister of Immigration said that candidates will be selected by occupation, language, and province where they want to settle. Most likely, there will be separate draws for some occupations and separate draws for those who know French. French is used less than English in Canada, but it is promoted in every way possible.

There is a huge shortage of medics in Canada right now, and they are likely to be among the first to be invited in targeted draws. But there is a problem with that. All medical occupations require a license. In one interview, Canada's Minister of Immigration said that medics will be invited to those provinces that make it easier for them to get employed.

Now some Canadian regions, like British Columbia and Ontario, are working to allow doctors and nurses with foreign degrees to get jobs. I think this is the second immigration change to come in 2023. At the very least, I would like to see it implemented as early as 2023. Then it will be easier for medics to move to Canada and get jobs. Right now it's almost impossible to get a job unless you retrain in Canada.

I also want to believe that Canada will speed up the processing of visa and residency applications even more. There were huge delays all year long, and only recently things have somehow started to pick up. Dozens of our clients were somehow abruptly granted visas, and our family was granted Canadian citizenship.

iPhone giveaway and plans for the new year

By the way, I'm giving away a new iPhone among those of our clients who will start studying in Canada in September 2023. We will take care of the selection of a college and academic program, as well as the paperwork. Plus there's a cool promotion at one college in Toronto right now. You can get a $4,000 CAD tuition discount and 12 free weeks of English. See the article on our website for all the details.

Let me talk about what my team and I plan to do with Immigrant.Today in 2023 and how it will help you. But before I do, I'll brag about our accomplishments. I'll start with our immigration clients.

Several guys received letters of support from business incubators. This is a necessary step for the subsequent application for Canadian residency under the Start-up Visa program. This option can be considered analogous to business immigration with fairly simple requirements for applicants in terms of age, education, and language.

As I said earlier, we work closely with students who are going to study in Canada. The youngest client this year who got a visa is 18 years old, and the oldest one is 52. After they graduate, they will be able to stay in Canada to work, which will give them a lot of extra points that will help them get permanent residency.

Next year we plan to expand our company and hire more immigration consultants, which should expand our range of services.

Employment assistance

And the main idea, which I saved for the end. We have preliminary agreements with Canadian employers who need foreign workers. We will act as free intermediaries: you will upload your CV and videos of your work to our website. For example, how you park a truck or do repairs. And Canadian employers will select you. Our team of immigration consultants will help with work visas. If any company doesn't have an LMIA to hire, we'll help with that too.

Accomplishments for 2022

Speaking of important numbers, in 2022 I gained 100,000 subscribers on my YouTube channel and got a silver button. I also have over 100,000 followers on my Instagram and TikTok. My Telegram channel will soon have 23,000, and I have almost 95,000 people subscribed to my email newsletter.

In fact, it is incorrect to say "I". My team is working on everything, without whom I can't imagine such success. Guys, thank you very much.

Let all your wishes come true, and we wish you to immigrate to Canada in 2023!

Alex Pavlenko, founder of Immigrant.Today