June 7 was Tax Freedom Day: Fraser Institute

This means if you paid all your taxes up front, you would have given every dollar you earned this year to government.

FI

That includes everything from income taxes, payroll taxes, health taxes, sales taxes, property taxes, fuel taxes, vehicle taxes, profit taxes, import taxes, to various “sin” taxes, and much more.

Some of these taxes are visible but many are hidden, making it nearly impossible for the average Canadian to get a clear sense of all the taxes imposed by different levels of government.

Therein lies the value of Tax Freedom Day. It’s a handy measure of the total tax burden imposed on Canadian families by the federal, provincial and local governments.

In 2016, we estimate the average Canadian family consisting of two or more people will earn approximately $105,200 in income and pay a total of $45,200 in taxes. In other words, the average Canadian family will pay 43 per cent of its income in taxes.

Charles Lammam is director of fiscal studies and Milagros Palacios is senior economist with the Fraser Institute. They are co-authors of Canadians Celebrate Tax Freedom Day on June 7, 2016.

 

Just Posted

Temporary Cold Weather Shelter in the works for Revelstoke

The Women’s Shelter Society, BC Housing and the city are working on making it happen

Black bear kills donkey in Revelstoke, put down by RCMP

Conservation Officer says once they attack livestock they are a danger to the public

Alberta woman dies in motorcycle accident in Revelstoke

RCMP say an SUV turned left in front of the motorcycle

High 30 for Revelstoke today

Roads and weather conditions

Balu Pass closed in Glacier National Park

The National Park is east of Revelstoke on Highway 1

VIDEO: Could we BE any more excited? ‘Friends’ fans go crazy for merch

Movie theatres will show select episodes to mark the NBC series’ 25th anniversary

Penticton man sentenced in non-fatal 2017 shooting

Elkena Michael Knauff sentenced to seven and a half months in jail

Bodies of two missing Surrey men found near Ashcroft

Ryan Provencher and Richard Scurr have been missing since July 17

Kamloops RCMP locate and arrest man who fled from police

The 22-year-old male was wanted in relation to a domestic violence investigation

Five hedgehogs quickly adopted after being left at BC SPCA

Lucky new owners picked up their pets from Maple Ridge branch on Aug. 20

COLUMN: Much to enjoy at Ryga Arts Festival

As I learn about George Ryga and his contributions, it is clear why this festival carries his name

Okanagan RCMP superintendent helps with arrest

Vernon Supt. Shawna Baher arrests man for theft; turns out to be suspect in assault and robbery

Kelowna man arrested after allegedly setting blaze near Fire Department

The man was allegedly seen lighting bushes on fire near the Kelowna Fire Department

Most Read