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

FORSETH -- Given the noted infractions of this agreement with OneBC leader Dallas Brodie, I request the Party immediate suspend the leadership campaign of Yuri Fulmer

I have personally emailed the following to the Board and Administration of the Conservative Party of BC:   TODAY (03/30) Yuri Fulmer, a candidate for the leadership of the Conservative Party of BC, made a pact with ONEBC leader Dallas Broldie, that if he is elected will commit the Conservative Party to the following. Specifically, the pact states : This Memorandum of Understanding outlines the definitive electoral and governing alliance that will be executed upon Yuri Fulmer’s election as Leader of the Conservative Party of British Columbia OneBC Party commits to not nominating or authorizing candidates in 88 of British Columbia’s 93 electoral districts. In exchange, the Conservative Party of BC, under the leadership of Yuri Fulmer, commits to not nominating or authorizing candidates in five (5) specific electoral districts . OneBC will be the sole standard-bearer for the right in those five districts. The specific ridings will be determined through mutual negotiation and fin...
Post a Comment
Read more

Delays to the replacement of the Red Bridge? Kamloops North Thompson MLA Ward Stamer says they are, “Totally Unacceptable.”

I think it’s totally unacceptable that on one hand the Ministry of Transportation and Transit (MoTT) is saying they’re going to be responsible for putting together multiple replacement options with public engagement, and then in the same breath they're saying, ‘Oh, and by the way, we're going to start our geotechnical environmental and archaeological site assessments on both sides of the river, possibly beginning this summer.’ According to Stamer, that should already have been done. “Obviously, we're pretty sure it will be in the same location because there's really no other place to put it. So, if you're going to put in a bridge, you think that at least you'd be doing the archaeological assessments first off”, stated Stamer.   “If it's determined it has to be a free-span bridge, and it can't have anything or very minimal impact in the riverbed, they should already be determining that. It would help in the design, wouldn't it?” Stamer indicated...
Post a Comment
Read more

Your government has a gambling problem (Troy Media)

Provinces call it “revenue,” but it looks a lot like exploitation of the marginalized The odds of winning Lotto Max are about 1 in 33 million. You’re statistically more likely to be struck by lightning than to win it. But your government is betting that statistics won’t hold you back; they’re counting on it. Across Canada, provincial governments not only regulate gambling, they also maintain a monopoly on lottery and gaming by owning and operating the entire legal market. That means every scratch card is government-issued, gambling odds are government-set, casino ads are government-funded and lottery billboards are government-paid. And these are not incidental government activities. They generate significant revenues that governments have powerful incentives to expand, not constrain. It would be one thing for our governments to encourage us to engage in healthy activities. We can quibble about whether the government should be trying to convince us to be more active or eat more vegetabl...
Post a Comment
Read more

Labels

Show more