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Canadian Families Spend 43 Per Cent of Income on Taxes

Posted: Thu Sep 03, 2020 2:28 am
by PNN
https://www.rebelnews.com/average_canad ... e_on_taxes

Average Canadian family now spends 43% of income on taxes
By Rebel News | September 01, 2020

A new study finds that the average Canadian family now spends more money on taxes than they do on food, shelter and clothing combined.

The news comes as the extended tax payment deadline expires today.

According to a press release from the Fraser Institute,

“Taxes remain the largest household expense for families in Canada,” said Jake Fuss, economist at the Fraser Institute and co-author of The Canadian Consumer Tax Index, 2020.

Last year, the average Canadian family earned $91,535 and paid $38,963 in taxes compared to $33,178 for the basic necessities—housing (including rent and mortgage payments), food and clothing combined.

In other words, the average Canadian family spent 42.6 per cent of its income on taxes compared to 36.2 per cent on basic necessities.

The tax burden on Canadians has “grown much more rapidly than any other single expenditure.”

In May, Parliamentary Budget Officer Yves Giroux said that it is “not unthinkable” that the federal debt could top $1 trillion.

In June of this year, Canada lost its former AAA credit rating.

Re: Canadian Families Spend 43 Per Cent of Income on Taxes

Posted: Thu Sep 03, 2020 3:50 pm
by Duane Berke
I didn't see a graph or chart listing regions across the country. Albertans pay the lowest tax total of course but would likely pay NONE AT ALL if not for the colonial-like Central Canadian welfare transfer extortion payments program.

Get Alberta Out!

Re: Canadian Families Spend 43 Per Cent of Income on Taxes

Posted: Thu Sep 03, 2020 6:06 pm
by Jean
That's right on the money! If I add up my income tax and various payroll deductions , my property tax , school tax , hydro , PST / QST .. I get to 43.9% of my salary.