Hi
I am not an expat in sg but a singaporean living in the GTA. It is interesting that you and I are taking/took diametrically opposite routes while citing exactly the same reasons. Maybe my views can answer your questions.
Assuming your bonus is the typical 13th month + a variable component of 2 months during good times, your salary over 15 months translates to $16,666 per month which is considered very good by the average singaporean earner's standard.
Your housing budget of $3.5K in the east coast area is do-able, you may expect either an older 3 bedroom or a newer 2 bedroom apartment. That budget cannot get you a terrace house (like a townhouse) on a 30' x 100' plot anywhere in Singapore. Your domestic helper (they call it maid there) will cost you around $700/mth plus expenses and medicals. I have little experience with maids so you might want to check this info.
I'm not sure what it costs to lease a small car, but if you buy, a 'bread and butter' model like the Toyota Corolla 1.6 litre is under $75,000, of which $20,802 is for the Certificate of Entitlement that expires in 10 years. At the end of 10 years, your car has a residual value called the PARF of about $8000 - $10000 that is the gov's incentive for you to scrap your car. The PARF is calculated based on a formula (
www.onemotoring.com.sg) that takes into account the actual new-car market value of your car at the time of import (which is close to the price of a new Corolla in Toronto). Factor in the annual road tax of $744 for a 1600cc car. Seeing that it is not cheap to buy the car, you can then factor the profit margin of a leasing arrangement. Most singaporeans buy rather than lease for obvious reasons.
You said it is a one-way trip, so I presume you are taking up PR or citizenship. I'm not sure if a work permit or S-Pass allows you to stay so long as to actually raise children. Either PR or citizenship will require you to contribute to CPF (
www.cpf.gov.sg) so your take-home pay is a little less. CPF is not the same as RRSP, but both involves withdrawals upon retirement, 55yo in this case. It is not a full withdrawal for citizens as they have to leave behind a minimum sum, something like $120,000 at your income bracket to be slowly drawn down as you age. It is full withdrawal for PRs who surrenders their PR.
For PRs and citizens and if your kids are boys, they will be liable for national service of 2 years in the military at the age of 18. Those university-bound will start their university after they complete their NS. 13 is the age where they will need permits to leave Singapore for 3 months or more, and if staying away for longer, they have to report in person to Central Manpower Base once within every 2 years, and 16.5 is when they enlist (online), and they serve at 18 to 20. For boys to continue to stay overseas, a bond of the higher of $75,000 or 50% of the parent's combined income must be posted with the ICA. Under the Enlistment Act (Google it), if the boy does not appear by 18 to serve, both he and the father become fugitives. If they re-enter Singapore, the boy will be given a choice of either doing 2 years of NS if he is still within NS serving age, or choose 3 years in Changi Prison (no brainer). The father has no such option, he will be fined $10,000 and gets to serve 3 years in Changi Prison. If your kids are girls, then there is no NS liability unless this change in the future. There is a tricky grey area of whether the PR son of a PR who leaves Singapore before the age of 13 is obligated for NS. The common interpretation is that if a PR has benefited from the system, such as having attended some form of education provided by Singapore, or traveled under the benefits of a Singapore residency, or enjoyed some form of benefits, then he has an obligation to serve NS.
Budget $500/mth per child for daycare. Local schools start at the age of 7 and monthly fees are about $10 plus books plus uniforms.
International Schools are much much more. I hear there is a long wait list for the French School so don't count on getting a place quickly. In the local schools, at the age of 9 in Primary 3 (Grade 3), your kids will be screened for the Gifted Education Programme. The top 2% will be channeled to GEP schools and follow an accelerated learning programme. At Primary 6 (Gr 6), all kids sit for a Primary School-Leaving Exam (PSLE) where they are awarded scores up to 300. Those that scored 265 and aove vie for the top schools such as Raffles Institution and Raffles Girls School. Those scoring below 188 will do an extended secondary school program of 5 years instead of the express secondary school of 4 years. There is the Direct School Admission where autonomous secondary schools such as Raffles can admit students before they take their PSLE exam for their sporting or arts talents. You will find that you will need to send your kids for all sorts of weekend and weekday enrichment classes just to keep up in school or to prepare for GEP, PSLE.
About the higher tax in Canada, I feel that as a family with school-going children, I do get something in return for it. The lower tax in Singapore is offset by 'indirect tax' if you own a car, employ a maid, send your kids for enrichment courses, and the medicals for the various frequent kiddie illnesses (there is no OHIP), not to mention the long hours of work with little time for family activities. Its a different picture if there are no children and you live car-less and maid-less in a downtown
condo.
You mentioned about the canadian education system. Having experienced both, I can only say that it is different. My daughter was from the abovementioned top school, and she now attends a regular school in my Peel Region zoned district. Her verdict is that the pace here establishes the foundations much better, and she actually likes math now. The english and literature in her zoned school (the equivalent of a singapore neighbourhood school) covers greater depth than what she experienced at RGS. The difference is that the canadian school teaches thinking, expression and creative skills whereas the singapore school stresses on the academic aspects. On top of that, she now finds time for music which she had to give up due to the heavy workload in Singapore. Late nights every night completing tons of assignments are now a thing of the past. You might also want to consider the odds of making it to university in Singapore. 1 in 4 of the qualifying cohort gains places in the main local universities (NUS, NTU, SMU). The other 3 in 4 of qualifying cohort find their own education through secondary means or else go overseas to universities in the UK, Canada, Australia, NZ, US. By the time your kids are 18 (girl) or 20 (boy) and if they decide to attend Ontario universities, I'm not sure if they will be considered for resident or international tuition.
On the issue of hot vs cold, its a matter of personal preference. Both has its merits. Coming from a hot climate, I am of the view that it is easier and cheaper to deal with heating in the cold months than trying to stay cool in a year-round humid climate. Though Singapore is surrounded by sea, any part of the shores of Lake Ontario gives a better effect of being by the water and offer more activities and it is possible to stay outdoors for longer periods if properly clothed. You can't beat the sunny days during the recent March school break and the countless trails and falls along the Bruce Trail. Driving on the 403 in snow at 6pm in January at 100kph is certainly less enraging than driving 5 minutes on the CTE any time of the day.
As to whether your kids will be better off or worse, that also depends. Kids might enjoy the different activities of 4 seasons and the outdoors. Some may prefer the non-grading non-ranking system of the elementary schools. But if they are the scholarly type and can rise to the elite top, Singapore with its high earnings, tax-free capital gains and low income taxes will give them an edge over the rest of the other regular kids. High income also helps when it comes to being able to take regular vacation breaks overseas.
Some of my info may be out of touch with the latest events in Singapore so you may want to read the links for updates and corrections. My views are my own and different families under different circumstances may have different needs. Hope this helps.
We came to SG on a local package although we did receive some shipping assistance. We do not have a maid, finally bought a car and live in an HDB apartment.
