In 2019, the average Canadian family of two or more people will pay $52,675 in total taxes. (Black Press Media files)

Tax Freedom Day: Today British Columbians start working for themselves

Average Canadian family of two or more will pay $52,675 in total taxes, or 44 per cent of income

This Friday is offering a bit more of a boost than just being the end of the week: it marks the first day of the year where your income is entirely your own.

READ MORE: Tax hikes across B.C. set for 2019

According to Fraser Institute’s calculations, June 14 is this year’s federal Tax Freedom Day. The exact day is determined each year based on the annual tax burden for Canadian families by federal and provincial governments compared to the average income.

In 2019, the average Canadian family of two or more people will pay $52,675 in total taxes. That’s 44 per cent of their annual income of $117,731 going to income taxes, carbon taxes, property taxes and more.

“If Canadians paid all their taxes up front, they would work the first 164 days of this year before bringing any money home to their families,” Finn Poschmann, resident scholar at the Fraser Institute, said in a news release.

In B.C., the provincial Tax Freedom Day was Monday.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Aboriginal Day celebration in Chemainus

Culture combines with crafts, food and entertainment at Waterwheel Park

Bitcoin and cryptocurrency scams targeting the most vulnerable

Safely navigating a new type of gold rush frontier

Parading through town

Chemainus Summer Fest parade features floats, classic cars and many happy people

Community groups make a large amount of money available to Chemainus grads

Scholarships and bursaries for class members for post-secondary total $85,000

Chemainus Secondary grads embark on a new journey

Friday ceremony a time to reflect on the past, look forward to the future

VIDEO: Killer whale steals fisherman’s catch off North Coast

Fishing duel results in eager orca snagging salmon in Prince Rupert

Fate of accused in Canadian couple’s 1987 killings in jury’s hands

William Talbot’s lawyer says DNA doesn’t prove murder

PHOTOS: North Island home gutted in fire deemed ‘suspicious’

No injuries reported; firefighters prevented blaze from spreading

Child killed after being hit in driveway on Vancouver Island

The driver of the vehicle remained at the crash scene and is fully cooperating

Eating sandwiches, putting on makeup behind the wheel could land you a fine

RCMP say if you cause an accident while eating you could be penalized

Cat badly hurt in animal trap was likely stuck for days, B.C. owner says

Blu, a three-year-old house cat, suffered severe damage to his hind leg after being stuck in trap for days

Vancouver Island woman assaulted after confronting thief

RCMP warn residents to call for police assistance

Island Health issues safer drug-use tips ahead of music festival season

Health authority aims to reduce overdose risks at festivals

40 cats surrendered in apparent hoarding at B.C. home

Officers found the cats living among piles of garbage and feces, suffering from fleas

Most Read