Today Is Tax Freedom Day

Friday, June 13, 2008 10:00 AM

Prince George, B.C. - Tax Freedom Day in B.C. is today. This is the day you can start working for yourself as all your taxes in B.C. have finally been paid off. The B.C. Tax Freedom day is 6 days earlier than last year.

Tax freedom day varies Province to Province, and Nationally, the day is tomorrow four days earlier than in 2007 says the Fraser Institute.

“Canadians spend almost half the year working to pay all the various taxes levied on them by federal, provincial and local governments. Every dollar they earn before June 14 would be required to pay the taxes owing to all levels of government,” said Niels Veldhuis, the Fraser Institute’s Director of Fiscal Studies.

There are several reasons why Tax Freedom Day comes earlier in 2008. The federal government’s reduction in the Goods and Services Tax (GST) to five per cent from six per cent, which took effect on January 1, 2008, moved Tax Freedom Day up by two days.

The taxes used to compute Tax Freedom Day include income taxes, property taxes, sales taxes, profit taxes, health, social security and employment taxes, import duties, license fees, taxes on the consumption of alcohol and tobacco, natural resource fees, fuel taxes, hospital taxes and a host of other levies.

The latest Tax Freedom Day in Canadian history was in 2005, when it fell on June 25. Tax Freedom Day moved forward to June 23 in 2006 and June 18 in 2007.

Alberta has the earliest tax freedom day, May 28th followed by New Brunswick on June 3 and Prince Edward Island on June 4. Next comes Manitoba (June 8), followed by Ontario (June 9), Nova Scotia (June 12), B.C. June 13th, Quebec (June 19). Saskatchewan has the second-latest Tax Freedom Day (June 20) with Newfoundland and Labrador waiting the longest, until June 30.

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Posted on Friday, June 13, 2008 10:00 AM in News by 250 News

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Comments

Posted by: ShannanigansB on June 13 2008 10:33 AM

How depressing.

Posted by: Death to Socialism on June 13 2008 11:32 AM

How come I don't feel free?

Posted by: camoose on June 13 2008 11:35 AM

Is the huge Municiple tax increases factored into these figures?

Posted by: realitysetsin on June 13 2008 11:35 AM

Yah until Carbon Tax takes effect in 15 days hahahah

Posted by: NorthernPike on June 13 2008 11:35 AM

This is the day you can start working for yourself?

Funny, I teach my socials students that I pay my taxes to myself: police to protect me, generally; roads, sewers, libraries, health care (somewhat), infrastructure,education, democracy, social peace and good government (at least compared with Zimbabwe). I've been working for myself all year, and I would be willing to increase my tax load, if it meant that the police (and prosecutors) would get the resources, health care would be improved, and class sizes and special needs for students would be increased.

I have no interest in increasing my tax load to pay for the Lower Mainland Olympics, or the Lower Mainland super-transit costs, but that's what democracy is all about.

Posted by: lostfaith on June 13 2008 11:59 AM

Cool, does that mean I will have no BC tax deductions on the rest of my paycheques this year?

Posted by: beesknees on June 13 2008 12:52 PM

NorthernPike, that is the smartest, most enlightening thing I've read today. Paying taxes to yourself, to get the things you need, to keep yourself comfortable in our civil society.

And I agree, I would like to pay more too, if I had a bigger say in where that money went. Maybe we should change this system we labour in, to do just that. Imagine if we all had a bigger say in how our "contributions" were spent. I agree, I wouldn't fund that new highway to Whistler, just so the "ultra-rich" or "mortgaged to the hilt" crowd could race their little chariots to the "hill" on the weekend.

Posted by: palomino on June 13 2008 1:48 PM

beesknees -- maybe we should take a lesson from the Niska'a !! They just started paying GST and PST a couple weeks ago, according to their obligations under the agreement drafted by Glen Clarke and the NDP.

But guess what ---- they pay the taxes to THEMSELVES !! Sweeeet, the money goes right back into the band coffers -- along with the money you and I pump in from our priviledge of paying taxes too.

Goes to show just who's got this system figured out.

Posted by: Arthur Williams on June 13 2008 3:51 PM

NorthernPike and beesknees,

You guys have it right on the whole tax thing. If you don't pay for it through taxes, you end up paying some other way (for health coverage in the U.S., bribes to police for protection in many Third World countries, etc.)

But I seriously don't know why everyone up here has a hate on for the Olympics. The Calgary Olympics raised the tourism profile of the whole province, not just Calgary. I was a kid in Calgary when the Games came. Even though I'm not a big sports fan, it was still a really memorable, special event. Why would you deny that to your fellow Canadians and British Columbians? To yourself?

Go volunteer, or just take in the ambience when the Games come. I can guarantee you it's an experience you will remember for the rest of your life.

Posted by: lmorg on June 13 2008 6:47 PM

Because Mr. Williams....Alberta wasn't in a northern recession the likes of which will soon be seen in the northern interior. Campbells olympics will break the province since forestry won't take up the slack. I like the olympics but wish they were cancelled in BC just so the province will keep afloat. See what happens.

Posted by: Andyfreeze on June 13 2008 9:14 PM

I'll second that Imorg.

Posted by: rightwing on June 13 2008 10:13 PM

beesknees, NorthernPike you guys are a bunch of kooks...who the heck would want more taxes. the name of the game is 0 taxes, 0 services, 0 govt....the rich shall rule and the poor will be kept in line with armys!

Posted by: socredible on June 13 2008 10:32 PM

If you think it's your taxes that pay for the services you want, and you want more services and are willing to pay more taxes to get them, secure in the notion that "your" government always knows what's best for you and how to spend "your" money on what's best for you better than you could ever spend it individually yourself, then why don't you give ALL your money to "your" government? Would you be happy then with what it gives you in return?

Posted by: socredible on June 13 2008 10:40 PM

Yes, Arthur, the Olympics will truly be "an experience we will remember for a lifetime." Two lifetimes even, maybe. It'll take us about that long, to pay for them! What'll we do for an encore? I know, let's have a 'good war'!

Posted by: acrider54 on June 14 2008 6:35 AM

Thank you ever so much you highness the tax king

Posted by: robichal on June 14 2008 8:15 AM

What frustrates me when it comes to taxes is the lack of accountability the gov't has w/ OUR money! Taxes are a given, they are needed, but it doesn't seem they spend it fairly, wisely, or with us in mind. Gov'ts sicken me, they are all crooked and smarmy, they say whatever it takes to be elected and then proceed to break many if not all of the promises they made during election time. We as the people, should have a say and there should be accoutability. We elect them, we should also be able to un-elect them. The selling of BCR comes to mind...

Posted by: giterdun on June 14 2008 11:47 AM

Nice to see that our federal govt just gave $17 million to two lower mainland indian bands so that they can partake in the Whistler games.