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

Fraser Valley dashes for endangered species at the zoo

Greater Vancouver Zoo raises $9,000 to fund West Coast wildlife conservation programs

Janda Group revises old Aldergrove mall redevelopment plans

Aldergrove Town Centre is long overdue, residents say

VIDEO: Cops for Cancer “Tour de Valley” sees 26 riders depart on 800 km cycle

Annual Canadian Cancer Society fundraiser celebrates 20 years as riders trek to Boston Bar and back

Sip ‘n’ Dip returns again for adults only at Aldergrove water park

It is the third event of its kind in partnership with Trading Post Brewery

Cloverdale-Langley City candidate attended event with blackface characters

The controversial “Black Peter” character has been a feature at Sinterklaas celebrations

VIDEO: Trudeau asks Canada to look to current, not past, actions on race

Liberal leader says he never spoke about the racist photo because he was embarrassed

Human case of West Nile virus reported on Vancouver Island

B.C. Centre for Disease Control confirmed case reported in August

Forestry watchdog warned B.C. government about Bamfield Road in 2008

Ombusman’s specific concerns re-surface in wake of bus crash that killed two students

B.C. Liberal leader says private sector development will help housing affordability

Andrew Wilkenson spoke in Kelowna during a real estate conference

Legislature gifts, clothing, travel need better control, B.C. auditor says

Audit follows suspensions of managers by Speaker Darryl Plecas

‘Really disturbing:’ Trudeau’s racist photos worry B.C. First Nation chief

Wet’suwet’en Chief concerned the photos will sow fear in Indigenous communities

Murder charges laid after body pulled from Fraser River ID’ed as missing man

Accused also face one count each of attempted murder in connection with Rudy Johnson Bridge incident

Unionized workers launch ‘open-ended strike’ at three Vancouver hotels

Workers at Hyatt Regency, Westin Bayshore and Pinnacle Harbourfront walked out

B.C. salmon farm inspection deal reached with Indigenous people

Monitoring to determine if any Broughton region farms stay open

Most Read