Happy Tax Freedom Day
Prince George, B.C.- Today is national Tax Freedom Day in Canada. Calculated annually, the Fraser Institute says if the average family of 4 with an income of $105,000 had to pay all their taxes up front, today is the day they start working for themselves.
Since governments impose a litany of taxes—some of which are visible but many are hidden—it’s nearly impossible for the average Canadian to get a clear sense of all the taxes they pay. That’s why every year the Fraser Institute calculates Tax Freedom Day, a handy measure of the total tax burden imposed on Canadian families by all levels of government.
Tax Freedom day can differ from family to family, and the Fraser Institute has produced a calculator to help you determine when you are finally working for you and your family.
The calculator can be accessed here.