In 2019, the average Canadian family of two or more people will pay $52,675 in total taxes. (Black Press Media files)

Tax Freedom Day: Today British Columbians start working for themselves

Average Canadian family of two or more will pay $52,675 in total taxes, or 44 per cent of income

This Friday is offering a bit more of a boost than just being the end of the week: it marks the first day of the year where your income is entirely your own.

READ MORE: Tax hikes across B.C. set for 2019

According to Fraser Institute’s calculations, June 14 is this year’s federal Tax Freedom Day. The exact day is determined each year based on the annual tax burden for Canadian families by federal and provincial governments compared to the average income.

In 2019, the average Canadian family of two or more people will pay $52,675 in total taxes. That’s 44 per cent of their annual income of $117,731 going to income taxes, carbon taxes, property taxes and more.

“If Canadians paid all their taxes up front, they would work the first 164 days of this year before bringing any money home to their families,” Finn Poschmann, resident scholar at the Fraser Institute, said in a news release.

In B.C., the provincial Tax Freedom Day was Monday.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Revelstoke’s forestry museum launches podcasts and new website

One of their summer students is working remotely

Glimpses of Revelstoke’s past for Aug. 6

Chautauqua, CPR strike and destructive fire

Morning Start: The human body contains trace amounts of gold

Your morning start for Friday, August 7, 2020

A variety of art coming to Revelstoke gallery this fall

A members’ show in December will act as a gift market

Roots & Blues announces ticket giveaway ahead of online festival

The festival is streaming free online this year, but those who pre-register can win passes for 2021.

53 new COVID-19 cases, no new deaths cap off week of high infection rates in B.C.

Roughly 1,500 people are self-isolating because they either have COVID-19 or have been exposed to it

Moving on: Tanev scores 11 seconds into OT as Canucks oust Wild

Vancouver beats Minnesota 5-4 to move into first round of NHL playoffs

Number of Kelowna-linked COVID-19 cases grows to 159

Interior Health reported four new cases region-wide on Friday, 18 remain active

VIDEO: U.S. Air Force pilot does fly-by for B.C. son amid COVID border separation

Sky-high father-son visit plays out over White Rock Pier

3 Vancouver police officers test positive for COVID after responding to large party

Union president says other officers are self-isolating due to possible exposure

New mothers with COVID-19 should still breastfeed: Canada’s top doctor

Dr. Theresa Tam made the recommendation during World Breastfeeding Awareness Week

Collapse of Nunavut ice shelf ‘like losing a good friend:’ glaciologist

The ice shelf on the northwestern edge of Ellesmere Island has shrunk 43 per cent

Police watchdog deems Kelowna RCMP not responsible for man’s death

The man spoke to police after a car crash before leaving on foot; he was found dead six hours later

‘It’s just my job’: Off-duty Peachland paramedic saves choking girl downtown Penticton

Family vacationing in Penticton assisted by off-duty paramedic, who helps save 13-year-old

Most Read