Advertisement
Global  

“News neutrality by unbiased coverage”
One News Page
> >

Fraser Institute News Release: June 10 is Tax Freedom Day, when Canadians start working for themselves and not government

GlobeNewswire Sunday, 10 June 2018
VANCOUVER, British Columbia, June 10, 2018 (GLOBE NEWSWIRE) -- Canadian families celebrate Tax Freedom Day on June 10 this year, according to the Fraser Institute’s annual calculations.*Tax Freedom Day* measures the total yearly tax burden imposed on Canadian families by federal, provincial and municipal governments. If you had to pay all your taxes up front, you’d give government every dollar you earned before Tax Freedom Day.

“It's difficult for average Canadians to add up all the taxes they pay in a year because the different levels of government levy such a wide range of taxes, and that’s why we do these calculations—to give Canadians a better understanding of exactly how much they pay to government,” said Charles Lammam, director of fiscal studies at the Fraser Institute.

In 2018, the average Canadian family (with two or more people) will pay $50,464 in total taxes. That’s 43.6 per cent of its annual income ($115,724) going to income taxes, payroll taxes, health taxes, sales taxes, property taxes, fuel taxes, carbon taxes, “sin” taxes and more.

Represented as days on the calendar, the numbers add up to more than five months of income—from January 1 to June 9. It’s not until June 10—Tax Freedom Day—when families start working for themselves, not the government.

This year, Canada’s Tax Freedom Day falls on the same day as it did in 2017.

“Tax Freedom Day helps put the total tax burden into perspective, and helps Canadians understand just how much of their money they pay in taxes every year.”

Calculate your personal Tax Freedom Day using the Fraser Institute’s online calculator at www.fraserinstitute.org.

Tax Freedom Day for each province varies according to the extent of the provincially levied tax burden.
 
*2018 Provincial Tax Freedom Days (earliest to latest)*  
Alberta May 22
Saskatchewan June 1
Prince Edward Island June 2
Manitoba June 3
British Columbia June 5
Ontario June 9
New Brunswick June 10
Nova Scotia June 15
Quebec June 21
Newfoundland & Labrador June 26
*CANADA* June 10  

*MEDIA CONTACT*:
Charles Lammam, Director, Fiscal Studies (in Vancouver)
Fraser Institute

To arrange media interviews or for more information, please contact:
Mark Hasiuk, Senior Communications Specialist
Fraser Institute
Tel: (604) 688-0221 Ext. 517
E-mail: mark.hasiuk@fraserinstitute.org
        Follow the Fraser Institute on* Twitter* *| *Like us on* Facebook*

The Fraser Institute is an independent Canadian public policy research and educational organization with offices in Vancouver, Calgary, Toronto, and Montreal and ties to a global network of think-tanks in 87 countries. Its mission is to improve the quality of life for Canadians, their families and future generations by studying, measuring and broadly communicating the effects of government policies, entrepreneurship and choice on their well-being. To protect the Institute’s independence, it does not accept grants from governments or contracts for research. Visit www.fraserinstitute.org
0
shares
Share on
Facebook
Share on
Twitter
Post on 
Reddit
Share by
Email
 

You Might Like


Tweets about this


Other recent news in Press Releases

Taiwan SMEA Will Host the Global Entrepreneurship CONGRESS Plus (GEC+ Taipei) from 9/26-29 in TaipeiReal Agent Pro Lands a Top Spot on Inc 5000 List of AMERICA’s Fastest-Growing Private Companies with Three-Year Sales Growth of 1596%
Attorney Stephen Mason Joins Dickinson Wright's Austin OFFICE as a MemberGCP Hospitality, a member of Gaw Capital Partners, expands its Australia portfolio by acquiring Bell City mixed-use development in MELBOURNE

Recent related videos

U.S.-Mexico Border Arrests Fall In July [Video]U.S.-Mexico Border Arrests Fall In July

U.S. border agents arrested about 8 percent fewer people in July than in June. But the number of migrant families detained remained nearly constant. The numbers were released by the Department of..

Wochit News -

Manafort's Man Testifies Against In Fraud Case [Video]Manafort's Man Testifies Against In Fraud Case

ALEXANDRIA, Va. (Reuters) - Rick Gates, a longtime business associate of U.S. President Donald Trump’s former campaign chairman Paul Manafort, on Monday testified that he helped Manafort file false..

Wochit News -

Manafort Trial Day 3 To Focus On Accountants [Video]Manafort Trial Day 3 To Focus On Accountants

Reuters reports President Donald Trump’s former campaign chairman Paul Manafort is set to shift focus to the accountants who prepared years of his allegedly false tax returns as the court battle..

Wochit News -

Tax 'Holiday' This Weekend For Back-To-School Shoppers [Video]Tax 'Holiday' This Weekend For Back-To-School Shoppers

It’s that time of year again! Florida shoppers once again will have a three-day “tax-free holiday” weekend in anticipation of the new school year. Matt Yurus reprots.

CBS4 Miami -

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2018 One News Page Ltd. All Rights Reserved.  |  About us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  Help  |  Contact us  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? Send us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter   FIND us on Google+  •  FOLLOW us on Pinterest