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

Police use lacrosse sticks to rescue ducklings from Delta storm drain

Delta police rescued five of six ducklings found in a Highway 17 storm drain on June 21

Surrey RCMP raises Pride flag Monday amid din of protesters

There were about 30 protesters on either side, and 20 Mounties doing crowd control

City of White Rock, SFN reaffirm close ties

National Indigenous Peoples Day celebrated on June 21

GUEST COLUMN: Looks like TransLink aims to ‘short-circuit’ plan for rail service on Interurban corridor

‘We are not going away,’ writes Rick Green, of South Fraser Community Rail Group

Swansong Ride2Survive raises $1M-plus in single-day cycle from Kelowna to Delta

Saturday’s ride was the 15th and final fundraiser of its kind for North Delta-based charity event

Video shows fireworks shot at swan in Alberta

Alberta Fish and Wildlife is investigating the incident in Grande Prairie

Grey-haired bank robber hit with dye pack in Langley heist

Police are looking for an older man who may be stained with dye

‘Text neck’ causing bone spurs to grow from millennials’ skulls, researchers say

Technology use from early childhood causing abnormal bone growths in 41 per cent of young adults

B.C. teen killed by fallen tree on field trip remembered as hero

13-year-old Tai Caverhill was the first to spot the tree falling and warned his friends

Should B.C. get rid of Daylight Saving Time?

The province wants to know, as state governments down south make the move

Air Canada reviewing how crew left sleeping passenger on parked plane

In a Facebook post, the woman said she woke up ‘all alone’ on a ‘cold dark’ aircraft

Canadians crash out of Women’s World Cup in 0-1 loss to Sweden

Canada missed a chance to tie the game on a penalty shot

New Lower Mainland bistro caters to board game fans and families

Local food and games at every table is the formula for the new business

Four-year-old boy assaulted at B.C. soccer game

It happened at a weekend tournament in Ashcroft

Most Read