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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Uber wants court to stop Surrey ‘from issuing illegal tickets’

Ride-hailing company trying to ‘defend its right’ to operate in Surrey

Semiahmoo First Nation to have potable water ‘for sure’ by summer

Chief Harley Chappell attributes six-month delay to unforeseen circumstances

McCallum declares Feb. 1, 2020 RCMP ‘Appreciation Day’ in Surrey

This year is the centennial anniversary of the national police force

LETTER: MAiD – Grateful for the choice

One local letter writer encourages people to voice their thoughts on medically assisted dying

Plans for apartments on Strawberry Hill shopping site move forward

It would be near the library, and include 123 rental units

Feds preparing plane to fly Canadians out of Wuhan, once China gives OK

160 Canadians have asked for help to leave province at centre of coronavirus outbreak

60% of Canadian workers would take a pay cut for better mental health support: survey

Survey found 77% of workers would leave for better wellness initiatives

Runaway rail car reported on same B.C. train line as fatal 2019 derailment

CP Rail confirmed the incident happened on Jan. 14.

Fraser Valley homeless advocate killed by RCMP leaves behind complicated legacy

Barry Shantz was shot by Lytton police officers after six-hour standoff on Jan. 13

Body found in vehicle at bottom of Mission ravine

Deceased male appears to be the lone occupant of the vehicle, discovered on Dewdney Trunk Road

Southern resident orca L41 considered missing and feared dead

The orca was last spotted in August 2019 when photographed in western Strait of Juan de Fuca

‘I am so sorry’: Stolen Baby Bear statue reunited with Mama, Papa Bear in B.C. town

Culprit left it near the Henry Road roundabout in Chemainus with a note attached

‘Critically low’ caribou population prompts wolf cull in the Chilcotin

Itcha-Ilgachuz herd numbers down to 385, from 2,800 in 2003

Most Read