Today is Tax Freedom Day
The Institute takes into account all of the taxes the average Canadian family has to pay, and if those taxes had to be paid up front,, then as of today you would be working for yourself.
Since governments impose a variety of taxes, some visible and some hidden, it’s very difficult 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, to show Canadians the total tax burden they are carrying.
According to the Institute, it takes 159 days for the average Canadian to cover all the taxes.
Tax Number of days
Sales Tax 25
Fuel/Vehicle/carbon taxes 5
Of course each individual’s tax freedom day is different based on their income, so to calculate what that might be for you, the Fraser Institute has provided a link to help you calculate your tax freedom day. You can access that calculator by clicking here.