tax freedom day

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A new year can bring new possibilities. It’s a chance to take stock of what we’ve accomplished in the past year and to set new goals for the future. It’s also, however, when Canadian governments typically enact new taxes. Unfortunately, governments across the country in recent years have been all too keen to bring in new taxes or increase existing ones, resulting in squeezed household budgets. The question for 2014 then, is will this trend continue or will governments recognize it’s time to give taxpayers a break?


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When Manitoba’s NDP government delivered its budget back in April, Finance Minister Stan Struthers ruffled some feathers with his announcement of an increase in the provincial sales tax (PST) to eight per cent from seven per cent, effective July 1, which happens to be Canada Day. His proposed tax hike has been hotly debated ever since.


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Taxes, according to the famous quote attributed to Oliver Wendell Holmes Jr., are the price we pay for a civilized society.

Fair enough. But Holmes didn't put a price tag on the notion of a civilized society. How much are you willing to pay? Or put another way, how long in the year would you be willing to work to pay for all the stuff government does?

In 2013, Canadians worked until June 10, which happens to be Tax Freedom Day, to pay all their taxes.

Étiquettes:

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Shortly before unveiling the provincial budget in March, Quebec Finance Minister Raymond Bachand told reporters that the average family pays enough taxes in Quebec. We couldn’t agree more. This year Quebecers have to wait until June 17 (nearly six months) to celebrate Tax Freedom Day. That is, if the average family in Quebec had to pay all the taxes it owed to all levels of government in advance, they would have to hand-over every single dollar they earned up to June 17—Tax Freedom Day.


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If you’ve ever tried to calculate all the taxes you pay in a year to all levels of government, you’ve probably given up somewhere along the way. While most of us can easily decipher how much income tax we pay – it’s right there on our tax returns – it’s a lot more difficult to gauge how much we pay in not-so-obvious taxes.


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Monday’s federal budget was all political spin. Like in March, when the 2011 budget was first introduced, the Conservatives dubiously titled it: A Low-Tax Plan for Jobs and Growth.

But in reality, the Conservatives’ plan increases the federal tax take, increases government spending, and fails to provide a truly austere plan to balance the budget. It will, therefore, do little to improve economic growth and create jobs.