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Tax Freedom Day comes a day late on June 10!

The day Canadians start working for themselves and not three levels of government.


June 10, 2015
by PLANT STAFF

Screen shot 2015-06-10 at 10.05.58 AMVANCOUVER — Tax Freedom Day, which measures the total yearly tax burden imposed on Canadian families by the federal, provincial and local governments, falls on June 10 this year—one day later than in 2014, according to the Fraser Institute’s annual calculations.

The list of taxes families pay includes income taxes, payroll taxes, health taxes, sales taxes, property taxes, fuel taxes, vehicle taxes, profit taxes, import taxes, “sin” taxes and more.

In 2015, the average Canadian family of two or more people will pay $44,980 in total taxes or 43.7% of their annual income, which represents more than five months of income from January 1 to June 9.

Freedom comes one day later than last year because the average family tax bill will increase at a faster rate (3.1%) than income (2.1%).

“Governments across Canada are partly to blame for the increased tax burden because many have raised taxes again this year,” Lammam said.

The Fraser Institute says the $1,353 net increase this year includes increases (among others) in income taxes ($927), payroll and health taxes ($312), sales taxes ($195) and auto, fuel and motor vehicle taxes ($55), among others.

This year’s tardy tax freedom day continues a trend of delays that began in 2009 when it fell on June 3.

Tax Freedom Day differs across the country with change from last year noted in brackets:

Alberta, May 19 (-1)

BC, June 6 (no change)

Saskatchewan, June 6 (+2)

PEI, June 8 (+1)

Ontario, June 10 (+2)

Manitoba, June 11 (+1)

Nova Scotia, June 13 (+1)

New Brunswick, June 14 (+1)

Quebec, June 16 (+4)

Newfoundland & Labrador, June 21 (-1)

Calculate your personal Tax Freedom Day using the Fraser Institute’s online calculator and check out the video.

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