Accounting & Commerce

Professional Opportunity:
For CAs moving into these countries, the ICAI has signed MOUs of all these countries CA Professional bodies for ICAI members to become a members of the other institutes. Australia - MoU with Australia allows you to become an Associate member after submitting the required documents. You can't publicly practice there I. e you will be able to join the Industry but not sign or certify in independent capacity. Canada - MoU with the Canada professional bodies ends by 2016, ICAI has initiated talks to continue the same. The professional bodies in Canada have been reconstituted, as of now I'm unclear of my professional opportunity there other than employment. England - MoU with England's ICAEW is in existence for a long time. ICAEW associate membership is same as Australia you cannot sign or certify in Independent capacity. But the ACCA a professional body in UK without the MoU allows you few exemptions in the exam papers, so you can avail their membership after clearing the non-exempted papers. Their membership allows you to act in Individual capacity. UAE - ICAI has its own Middle East chapters unlike any other Professional body to give an upper hand to its members to establish practice in the Country. There is an abundant number of opportunities for CAs in employment in this country than practice and are also paid handsomely. Job profile in the above countries are more towards corporate employment rather than individual practice, except in UAE where Indian Firms in the country hire CAs for their audit works. Cost of living - Taxes, insurance, and other nuts and bolts. The cost of living is very high in Australia due to its housing taxes. Housing in Canada is far more affordable at the moment when compared to Australia. Regular living expenses also tend to be higher in Australia that they are in Canada. When compared to Australia with England, Australia is still on a higher side. Rental facts:
Apartment (1 bedroom) in City Centre in Toronto $1,464.62, in Sydney $2,244.02 and in London $1400. Abu Dhabi $1367 - $3,267. Personal Taxes:
No taxes in Canada till $43,561, Australia $18,200 and in England tax slab starts from 0 -31,785 at 20%. No taxes in UAE for any amount of income.