VANCOUVER — Canadian families celebrate Tax Freedom Day today, June 10, this year, according to the Fraser Institute’s annual calculations.
“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.
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 add up to more than five months of income—from January 1 to June 9. It’s not until June 10—Tax Freedom Day—when families start working for themselves, not the government, on average across the country.
This year, Canada’s Tax Freedom Day falls on the same day as it did in 2017.
“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)|
|Prince Edward Island||June 2|
|British Columbia||June 5|
|New Brunswick||June 10|
|Nova Scotia||June 15|
|Newfoundland & Labrador||June 26|