Spreadsheet: 0f690244-5ec4-4c48-8b6f-404f0e7d4c64
Sheet: Sheet1

Country | Cost of Living* | Quality of Life** | Inflation rate/ '00 - '07 Annual average | College Planning | Health insurance -- gov't supported | Health Insurance -- private | Child Care Support | Retirement Program / public and compulsory | Retirement Program/private and on demand | Long-term care planning | Non-citizens' ability to own property | Federal Earned Income Tax | Earned Income Tax Rate at US$100K salary - single person filing | [NAME] | Death Tax | Capital Gains Tax
Argentina (Buenos Aires) | 54 | 6.5 | 6.18 | private system (with rates from U$ 100 to U$ 600 each month), free public education including university | free public health coverage in hospitals. Syndicates give medicine for their associates. | yes | private and public | social Security. Or  a private system (AFJP) (people can choose) | yes, but people have to choose between public and private | private long-term care (it is rarely used) | yes | 33 % maximum | 22% average | no gift tax | no death tax | 0.01
Australia (Sydney) | 106 | 7.9 | 3.2 | Free public education is available up to high school; along with a partially subsidised tertiary education available for residents.  Tertiary education student loans are available through the Federal Govt. | Free basic public health coverage in hospitals, together with the use of private specialists partly funded through Medicare.  The working population pay 1.5% of their income as a Medicare Levy to fund this system. | Federal Govt encourages residents to purchase Private Health Insurance, by imposing an additional 1% Medicare [NAME] for residents who do not have private cover and earn income greater than: $50,000 individual; or $100,000 family. The govt provides assistance in the form of a 30% rebate of the premium. | Private expenditure with some Government assistance through child care benefit payments. | Employers contribute a minimum of 9% of salary into each employees private Superannuation account; this money becomes accessible once retirement age is reached.   The Federal Govt supports an Old Age Pension, which is available to retirees who meet the income and asset tests. | Retirees can take their Superannuation balance as a pension or lump sum amount to self fund their retirement.  They may also be entitled to a full or partial Old Age Pension.  Note: the Superannuation regime is a tax effective vehicle to fund retirement.  For example: a pension/lump sum for a retiree over 60 years old is tax free. | Govt does develop and provide for long term care planning initiatives for example aged care, mental health and preventative medicine.  Private sector plays a significant role in the delivery of these services. | Yes | Income tax rate 2007/08:  $0 to $6,000 - 0%; $6,001 to $30,000 - 15%;  $30,001 to $75,000 - 30%;  $75,001 to $150,000 - 40% +$150,001 taxed at 45%.  Plus 1.5% Medicare Levy | Average tax rate of 27.9% + 1.5% Medicare Levy = 29.4% (based on the current exchange rate $0.94 USD per $1 AUD) | Donors can claim tax deductions for gifts made to eligible gift recipients. Entities entitled to receive tax deductible gifts are called deductible gift recipients (DGRs).   The tax treatment for the recipient of the gift will depend on the type of asset and who has gifted it. | The tax treatment will depend on a the relationship the beneficiary had to the deceased; when the asset was acquired and the type of asset/s. For example - Superannuation:  - A lump sum death benefit payment is tax-free if paid to a person who is a dependant of the deceased.   - If a lump sum death benefit is paid to a non-dependant, the taxable part of the benefit is taxed at maximum rate of 15% plus any applicable [NAME]. | Taxed at marginal tax rate on 100% of gain, or 50% of the gain if the asset is held for more than 1 year.
Canada (Toronto) | 90 | 7.6 | 2.3 | RESPs (Registered Education Savings Plans); government provides 20% grant on RESP contributions. | Basic level of healthcare provided by respective provincial governments | Group health benefits over and above the basic level of healthcare provided by the government, are typically sponsored by an employer but are also available privately. | Some government subsidized child care programs are available, but generally funded privately. | Canada Pension Plan (CPP); Old Age Security (OAS). | Registered Retirement Savings Plans (RRSPs); private company pension plans ([NAME]: defined benefit and defined contribution) | Private long-term care policies and  basic level of government-funded care. | In most of the 10 Canadian provinces & 3 territories, non-citizens are able to own property without restriction.However, this is an area that is governed provincially and, we are aware of at least one province that does restrict foreign ownership. | Federal tax rates: 16% on the first $35,595 of taxable income; 22% on the next $35,595 of taxable income; 26% on the next $44,549 of taxable income and 29% on taxable income over $115,739. In addition to federal tax rates, provincial tax rates also apply, however, they vary b/w jurisdictions. | Combined federal & provincial tax rate = approx. 40% on US$100k of earned income, assuming 1.15 FX rate | No gift tax. | No death tax in Canada. However, deemed distribution of capital assets and de-registration of registered plans (if spousal rollover can't be utilized), can still trigger a significant tax liability at death. | 50% of capital gains are taxed
Germany (Berlin) | 106 | 7 | 1.7 |  | Public HI: obligatory for employees (<€3940pm);50% pd by empler | Only for self-employed & higher wage earners | Private; ltd tax deduction | Gesetzliche Rentenversicherung- compuls. for emplees (<€5250pm); 50% pd by empler | Riester, [NAME]; Entgeldumwandlung, [NAME] | compulsory,attached to public health ins. plan or private | Unrestricted | 16-44,3% (supplemnt. reunification charge included) | 29900 | 7-50% (tax between close family members 7-30%) | 7-50% inheritance tax en close family members 7-30%) | based on income tax rate (securities < 1yr; real estate < 10yrs)
Hong Kong | 107 | 7.34 | -0.8 |  | None but local hospitals provide cheap medical service; ongoing discussions about health reform to reduce pressure on the public system | Open market for private medical insurers | Private | Government-funded Comprehensive Social Security Assistance Scheme provides a low monthly support | Mandatory retirement scheme (Mandatory Provident Fund) for all employers and employees which is privately run. | Private but government provides limited subsidy for low income sector | The property market is totally open and there is no particular restrictions or tax liability for foreign owners |  | 0.16
India (New Delhi) | 45 | 5.75 | 4.6 |  | Negligible: Public Hospitals for those who cannot afford private care | Govt. regulated Health Cover upto a maximum of 22,000 USD equivalent. Medical Premiums deductible. | None. Children's Education expenses eligible for deduction upto 2200 USD equivalent per person | EPF, EPS and  EDLIS compulsory contribution by organised sector employees of 12% of salary upto 1700 USD equivalent matched by employer & supplemented by Govt. Returns guaranteed by Govt. PPF available for all citizens, where investments are limited and are eligible for deduction. | Private programs by way of pension plans by insurance companies. Investment in pension products are now eligible for a deduction up to a limit of Rs 100,000. |  | Restricted to certain Non-citizens of Indian origin | 10.2% to 33.66% | USD 32K i.e. 32.41% | No Gift Tax on gifts to immediate relatives (upto spouses of siblings of donor's spouse). Ineligible donee receiving annual gifts above 550 USD equivalent to include it in taxable income . | No Estate Duty | (1)Listed Equity and Equity Oriented Mutual Funds - Zero LTCG Tax & 15% STCG Tax. For Debt Mutual Funds 10% LTCG Tax & STCG Tax at Marginal Income Tax Rate.[NAME] is > 12 months. (2)For other assets 20% LTCG with indexation of cost benefit. STCG at marginal rate. [NAME] is > 36 months.
Israel (Tel Aviv) | 88 | 6.5 | 1.5 | Private funding: various kinds of saving plans | 5% of income with a cap of 5 times averge income | Privately-Funded.  No tax reliefs | public & priv. | 1st layer (15% of average income) is paid by Social Security from formal date of retirement. 2nd layer -mandatory contributions to employees starting 2008 | Mostly pension fund or life insurance schemes aiming to save for retirement and offer LTD and survivors benefits.  Employer& employee combined contributions including severence fund.  [NAME] plans with a tax relief as a voluntary option. | Privately owned policies with no tax benefits. | yes | 20% -47% | 0.37 | 0 |  | 0.2
Italy (Rome) | 98 | 7.81 | 2.4 | mostly public | 6.97%of income | private on demand | public & priv. | mostly public and compulsory. 25.72% of income | private on demand | private | yes | 23-43% progressive | 31.5% with USD/Eur being $100,000US equaling 65,000Eur. | 0 | 0 | 0.125
Malaysia (Kuala Lumpur) | 68 | 6.6 | 2 | Private funding: Insurance Education Plans, Mutual Funds or EPF (A/C 3). | Sihat Malaysia (Medical Card) | Privately-Funded.  Personal tax relief on premium paid up to [NAME] (Note:the relief is for education/ medical plan combined) | Private | Employees Provident Fund (EPF) | No formal/negligible private programs (No tax incentive).  Dependent on EPF. | Very little awareness on long term care.  If any, will be private arrangements. | Restricted to 1 property above [NAME] (owner occupied) | [NAME] of 0 - 27%.  Max 28% | Graduated scale: 0-27%.  Up to [NAME] at 27%, Above [NAME] at 28% | No Gift Tax | No Death Tax.  Estate Duty was repealed in 1991. | No Capital Gains Tax.   Only Real Property Gains Tax
Mexico (Mexico City) | 79 | 6.76 | 5.2 | Endowment contracts for education, scholarships, free public universities | Universal health care provided for by the government;Those that do not qualify, i.e. foreign residents, can buy into the system | Group plans, individual plans, international plans. Private hospital plans, similar to HMOs in the US. | Limited government support at free daycares. | The government mandated social security program has been privatized. Employees have private accounts that they manage. Employees, empoyers and government pay into the accounts. | Voluntary contibutions to Social Security accounts. Special retirement accounts funded individually. Use of endowment contracts and annuities to meet retirement goals. Private pensions. |  | Yes.  Real property in the "restricted zone", 100 kilometers next to international borders and 50 kilometers next to the sea, must beheld in a trust, or a Mexican corporation if commercial property. Outside of the restricted zone, foreigners own property in fee simple. | Marginal rates on individuals up to 28% for 2007. Brackets severely compressed. | Top bracket at 28%, dropping 1% a year until 25% | No tax if gift  is between spouses, ascendants and descendants. For all other Mexican residents  the value of the gift is considered regular income and may be taxed as high as 28% | No estate or inheritace taxes. Foreign tax residents may need to pay 25% of the value of the inheritance. | Generally, gains are taxed at regular  income tax rates, as high as 28%. Foreign tax residents may be subjected to higher taxes on the gain of appreciated property.
The Netherlands (Amsterdam) | 101 | 7.41 | 2.5 | Wettelijke studiefinanciering | [NAME] | Aanvullende verzekeringen | Private, limited Bijdrage werkgever wettelijk voorgeschreven | AOW, Social Security | AOW, Pension by Employer, private options: [NAME] | With Levensloopsparen (since 2005) you collect money to have spare time to raise your kids or care for familiy. Not a special product | Possible -- when you want to live in The Netherlands you have to do a language exam, and a "inburgerings" course to learn about local customs. | up to 52% | up 52% | included in income tax when your gift > 1% of year income | 5% - 41% | exempted
New Zealand | 87 | 7.4 | 2.6 | Free public education is available up to and including high school (year 13); private education options; partially subsidised tertiary education available for residents.  Tertiary education student loans are available through the Govt. | Free basic public health care in hospitals and for specialist referrals; subsidies on GPs, prescriptions. Extra subsidy for low income earners via Community Services Card. ACC earners levy (1.3%) subsidises treatment of non-work accident-related injuries. All employers required to provide work-related personal injury cover for all employees. | Private healthcare commonly used to bypass wait times; private health insurance entitles to free public health services. | Private expenditure with some Government assistance through child care benefit payments. | Pension available for all residents over 65. Compulsory 'KiwiSaver' program introduced 2007. All new employees contribute 4% or 8% of wages into Govt approved fund (existing employees can opt in); employers contribute 1%, increasing to 4% by 2011; funds accessible at 65. | Some private in addition to mandatory KiwiSaver. Some approved employee schemes can be used in place of KiwiSaver | Govt develops and provides for long term care planning initiatives for example aged care, mental health and preventative medicine.  Private sector plays a significant role in the delivery of these services. | Yes but subject to some limits if making a large purchase | Income tax rate 2008/09:  up to $38,000 = 19.5% $38,001 to $60,000 = 33%  Over $60,001 = 39%  Plus 1.3% ACC Levy | 32.1% average (see calc at left) | Up to $27,000 = 0% $27,001 to $36,000 = 5%  $36,001 to $54,000 = $450 plus 10% of amount over $36,000 $54,001 to $72,000 = $2,250 plus 20% of amount over $54,000 Over $72,000 = $5,850 plus 25% of amount over $72,000 | None. Outstanding tax liability must be settled | None unless deemed to be a property or share trader
Singapore | 108 | 7.71 | 1 | Under the Education Scheme,  you can use your Central Provident Fund (CPF) savings  to pay for your children’s local  tertiary education at the approved  institutions.  Child education  endowment policy | Government sponsored financing framework:  [NAME],  MediShield, [NAME]  Private Integrated Plans and  Medifund.  http://www.cpf.gov.sg/cpf_info | Medisave-Approved Private  Integrated Plans | Child Care Centres provide  full day and half-day care  programmes to children  below the age of 7 years.  Most centres admit children  from 18 months onwards. | The CFP is a compulsory government program to address retirement, home ownership, healthcare and more.  For retirement, after a minimum sum of $90,000SD has been set aside, people can begin to draw on this fund after age of 55. | Supplementary Retirement Scheme | ElderShield was introduced  by the Ministry of Health in  June 2002. It is an affordable  severe disability insurance  scheme, designed to provide  Singaporeans with basic  financial protection against  expenses required in the  event of severe disabilities. | Foreigners can purchase apartments  in non-condominium  developments of less  than 6 levels without  the need to obtain  prior approval. For  properties on private lots, such as single family homes, prior approval  is still needed if foreigners  wish to buy.  [NAME] | First S$30,000 tax rate is 3.75%.   Next S$10,000 is 5.75%.  Next  $40,000 is 8.75%.  Next S$80,000 is 14.5%.  Next S$160,000 is 18%. Above S$320,000 is 21%. Based on year 2005 income. | With $100,000US equaling S$165,000, the tax rate  for the first S$160,000 is S$16,050. The remaining S$5,000 is taxed at  18% of S$5,000.   The total amount is S$16,950. | No | First S$12 million, the rate is 5%.   Beyond S$12 million,  the rate is 10% | No
UK (London) | 125 | 6.91 | 1.6 | Private school schemes, Educational trusts, mostly insurance based savings schemes | None - National Health Service | Private Medical Insurance, Hospital & Dental Plans | Govt benefits although limited. No specific private plans | Social Security | Personal Pension, Company pensions but new "simplified" rules from April 2006. Also the use of "unsecured Pensions" - an income drawdown of pension fund by deferring annuity purchase | State Funded Care is means tested. Capital investment, Private LTC Insurance plans. Impaired Life annuities (at point of care usually). | Few restrictions to non-citizen ownership buy Local State (Council) taxes | In 2008 there are now two rates of tax - 20% and 40%  However there is also National Insurance Contributions for Employers and Employees. Rates range from 10% to 40%. | [NAME] of 40% | Only above approx $600,000 if a gift to a trust.  No tax if made directly to a recipient and donor survives 7 yrs. 20% or 40% tax charge | 40%. Only above nil rate allowance of approx $600,000 per person. Unused allowance can now be transferred between spouses. | New Tax Rate applied from 6-4-08 of 18%, but also a Lifetime Entrepreneurial Allowance of £1m where the tax is 10%. Rates applied after income tax so up to 40%
USA (Seattle) | 82 | 7.61 | 2.8 | Qualified Tuiition (Section 529) Programs, Coverdell Education Savings Accounts (ESA),  Student and parental loans available as well as need based grants.  Deduction from taxes of Student Loan Interest and Tuition based on deduction limits and adjusted gross income. | Medicare/Medicaid - Minimal costs with 40 qtrs of coverage.  Deduction from wages and employer - total rate 2.9% on all earned income. | Ave. cost $300 per mo. | private, limited public | Social Security - Min benefit is slightly over $600 per mo with 40 qtrs of coverage.  Payroll tax is 15.3%. | 401(k), 403(b), 457, SEP IRA Plans - allow pre-tax contributions. Withdrawals are fully taxed.                     IRA (Traditional) - allows pre-tax contributions subject to participation in other retirement plans and income level. Withdrawals are fully taxed.                     IRA ([NAME]) - Allows after-tax contributions subject to income limitations.  Withdrawals are tax free. Withdrawals from retirement plans prior to age 59 1/2 incur a 10% penalty. | private long-term care policies, limited public assistance | Yes, but subject to inquiries into terrorism and money laundering | 10% to 35% | Approx. $22,000 Plus additional state income tax if applicable. | Highest rate is at 46% with first $1 million being exempt for residents and citizens. $12,000 gift/year/donee tax exempt. | Highest Federal rate is at 45% with first $2 million being exempt for residents and citizens. States may have state death tax in addition to Federal Death Tax. | Generally 15% rate until current provision expires in 2008.
NOTE: This information is intended for general information only.  In all countries, subtleties may change the guidance given above from one individual to another.
The following matrix is to provide a snap shot of planning issues from country to country.  For additional information, countries with hotlinks (in blue) are
linked to a full cross-border resource page.  Certain assumptions are made for the starred headings.  Those with asterisks have explanatory notes which are listed below.
All taxation is based on resident citizenship.  Cells with red corners (see USA cost of living cell above as example) have imbedded comments.  Pass cursor over cell to read.
*  Cost of living has been taken from the Economist http://www.lankanewspapers.com/news/2007/3/12963_space.html, a survey measuring the comparative cost of over 177 items in each location,
including housing, transport, food, clothing, household goods and entertainment.
** Quality of life has been taken from http://www.economist.com/media/pdf/QUALITY_OF_LIFE.pdf
*** Inflation figures from IMF:  http://www.imf.org/external/pubs/ft/weo/2008/01/pdf/tables.pdf