Fraser Institute says June 10 was Tax Freedom Day
Average Canadian tax payers would start the week without a single dollar of taxes left to pay – if they’d paid everything upfront.
Sunday (June 10) was Tax Freedom Day, the theoretical date that an average Canadian taxpayer starts working for themselves according to a calculation by the Fraser Institute.
“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.
Although tax freedom has fallen on the same date as in 2017, it is not universal across Canada of course.
While those in New Brunswick achieved freedom on the national-average June 10, those in Nova Scotia (June 15), Quebec (June 21) and Newfoundland & Labrador (June 26) still have some work to do for the government!
Meanwhile, those in the other provinces have been theoretically pocketing every dollar they earn from as early as May 22.
Provincial Tax Freedom Days:
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