Skip to main content

“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

FRASER INSTITUTE: Governments impose a litany of taxes - some visible, some hidden - making it very difficult for us to get a clear sense of all the taxes we pay. That’s why the Fraser Institute calculates Tax Freedom Day



According to the Fraser Institute, tomorrow is Tax Freedom Day ... so, happy almost Tax Freedom Day!

If you paid all your taxes up front, you’d give government every dollar you earned up to tomorrow (June 14th), Tax Freedom Day. From today onward, you’re finally working for yourself and your family.

Because governments impose a litany of taxes—some visible, some hidden—it’s very difficult for Canadians to get a clear sense of all the taxes they pay. That’s why every year the Fraser Institute calculates Tax Freedom Day, a handy measure of the total tax burden imposed on Canadian families by federal, provincial and local governments.

To learn more about Tax Freedom Day, check out the Fraser Institutes video, infographics and maybe even take a moment to calculate your own personal Tax Freedom Day on our website.

Here are just a few things you may wish to take note of:

  • In 2019, the average Canadian family will earn $117,731 in income and pay an estimated $52,675 in total taxes (44.7%).

  • If the average Canadian family had to pay its taxes up front, it would have worked until June 13 to pay the $52,675 total tax bill imposed on it by all three levels of government (federal, provincial, and local).

  • This means that Tax Freedom Day, the day in the year when the average Canadian family has earned enough money to pay the taxes imposed on it, falls on June 14.

  • Tax Freedom Day in 2019 comes one day earlier than in 2018, when it fell on June 15. This decline is due to the expectation that the incomes of Canadians will increase more than the total tax revenue forecasted by Canadian governments.

  • Tax Freedom Day for each province varies according to the extent of the provincially levied tax burden. The earliest provincial Tax Freedom Day falls on May 27 in Alberta, while the latest falls on July 2 in Newfoundland & Labrador.

  • If governments increased taxes to balance their budgets instead of financing expenditures with deficits (which are deferred taxes), Tax Freedom Day would arrive 8 days later. Put differently, the Balanced-Budget Tax Freedom Day arrives on June 22.


Labels:

Comments

Post a Comment

Popular posts from this blog

BC cannot regulate, redesign, and reinterpret its way to a stable forestry sector. Communities need clear rules, predictable timelines, and accountability for results.

Photo credit:  Atli Resources LP   BC’s Forestry Crisis Continues with Closure of Beaver Cove Chip Facility   As industry leaders, Indigenous partners, and contractors gather this week at the BC Natural Resources Forum in Prince George, the gap between government rhetoric and reality could not be clearer. Just hours after the Eby government once again touted reconciliation, certainty, and economic opportunity under DRIPA, Atli Chip Ltd, a company wholly owned by the ’Na̱mg̱is First Nation, announced it is managing the orderly closure of its Beaver Cove chip facility. The closure comes despite public tax dollars, repeated government announcements, and assurances that new policy frameworks would stabilize forestry employment and create long-term opportunity in rural and coastal British Columbia. “British Columbians are being told one story, while communities are living another,” said Ward Stamer, Critic for Forests. “This closure makes it clear that announcement...
Post a Comment
Read more

Stamer: Hope for Forestry Completely Shattered After Another Provincial Review Driven by DRIPA

IMAGE CREDIT:  Provincial Forestry Advisory Council Conservative Critic for Forests Ward Stamer says the final report from the Provincial Forestry Advisory Council confirms the worst fears of forestry workers and communities; instead of addressing the real issues driving mill closures and job losses, the NDP has produced a report that ignores industry realities and doubles down on governance restructuring. Despite years of warnings from forestry workers, contractors, and industry organizations about permitting delays, regulatory costs, fibre access, and the failure of BC Timber Sales, the PFAC report offers no urgency, no timelines, and no concrete action to stop the ongoing decline of the sector. “ This report completely shatters any remaining hope that the government is serious about saving forestry ,” said Stamer.  “ We didn’t need another study to tell us what industry has been saying for years. While mills close and workers lose their livelihoods, the NDP is focused on re...
Post a Comment
Read more

FORSETH – My question is, ‘How do we decide who is blue enough to be called a Conservative?’

How do we decide who’s blue enough to be a Conservative? AS OF TODAY (Friday January 30 th ), there are now eight individuals who have put their names forward to lead the Conservative Party of British Columbia. Having been involved with BC’s Conservatives since 2010, and having seen MANY ups and downs, having 8 people say “I want to lead the party” is to me, an incredible turn-around from the past. Sadly, however, it seems that our party cannot seem to shake what I, and others, call a purity test of ‘what is a Conservative’. And that seems to have already come to the forefront of the campaign by a couple of candidates. Let me just say as a Conservative Party of BC member, and as someone active in the party, that frustrates me to no end. Conservatives, more than any other political philosophy or belief, at least to me, seems to have the widest and broadest spectrum of ideals.   For the most part, they are anchored by these central thoughts --- smaller and less intru...
1 comment
Read more

Labels

Show more