Fraser Institute News Release: Canadian families are finally working for themselves?not to pay taxes
VANCOUVER, British Columbia, June 11, 2018 (GLOBE NEWSWIRE) -- Canadians celebrated Tax Freedom Day, which means they are finally working for themselves and not to pay taxes, 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.
"As Canadians head to work this morning, they will finally be working for themselves and their families?if Canadians paid their taxes up front, they would have had to work the first 160 days, over five months, of the year just to pay their taxes," 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 comprise more than five months of income?from January 1 to June 9. It wasn't until yesterday, June 10?Tax Freedom Day?that families started working for themselves, not to pay for government.
"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:
Bryn Weese
Media Relations Specialist, Fraser Institute
(604) 688-0221 ext. 589
[email protected]
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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
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