Canadians Celebrate Tax Freedom Day on June 14, 2019
— Published on June 13, 2019
- In 2019, the average Canadian family will earn $117,731 in income and pay an estimated $52,675 in total taxes (44.7%).
- If the average Canadian family had to pay its taxes up front, it would have worked until June 13 to pay the $52,675 total tax bill imposed on it by all three levels of government (federal, provincial, and local).
- This means that Tax Freedom Day, the day in the year when the average Canadian family has earned enough money to pay the taxes imposed on it, falls on June 14.
- Tax Freedom Day in 2019 comes one day earlier than in 2018, when it fell on June 15. This decline is due to the expectation that the incomes of Canadians will increase more than the total tax revenue forecasted by Canadian governments.
- Tax Freedom Day for each province varies according to the extent of the provincially levied tax burden. The earliest provincial Tax Freedom Day falls on May 27 in Alberta, while the latest falls on July 2 in Newfoundland & Labrador.
- If governments increased taxes to balance their budgets instead of financing expenditures with deficits (which are deferred taxes), Tax Freedom Day would arrive 8 days later. Put differently, the Balanced-Budget Tax Freedom Day arrives on June 22.
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