It is Tax Freedom Day.
According to the Fraser Institute, if Canadians paid all their taxes up front, they would work the first 165 days of this year before bringing any money home for themselves.
The institute estimates the average Canadian family with two or more people, will pay $58,567 in total taxes or 45.2 per cent of their annual income of $129,589 in various taxes.
Those include health taxes, sales taxes, property taxes, fuel taxes, carbon taxes, and more.
With record deficits due to the pandemic, The Fraser Institute also calculation the Balanced Budget Tax Freedom Day, the day the average Canadian starts working for themselves if the governments kept their books in the black.
That wouldn’t arrive until July 2nd.
