Taxes

— Jun 15, 2022
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This year, Tax Freedom Day is Wednesday, June 15. If you had to pay all your federal, provincial and municipal taxes up front, you would give government every dollar you earned from January 1st to Tax Freedom Day, when Canadians finally start working for themselves. In 2022, the average Canadian family (with two or more people) will pay 45.2 per cent of its annual income in taxes, including income taxes, payroll taxes, health taxes, sales taxes, property taxes, fuel taxes, carbon taxes and more.

— May 26, 2022
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Understanding the Changing Ratio of Working-Age Canadians to Seniors and Its Consequences

Understanding the Changing Ratio of Working-Age Canadians to Seniors and Its Consequences is a new study that finds as Canada’s population ages, the number of working-aged Canadians relative to the number of seniors has declined from 5.4 in 2000 to 3.4 in 2022, which means government spending related to seniors is increasing at the same time that the growth in tax revenues is declining.

— Apr 26, 2022
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What Are the Economic Costs of Raising Revenue by the Canadian Federal Government?

What Are the Economic Costs of Raising Revenue by the Canadian Federal Government? finds that for every additional ($1) dollar of personal income tax revenue collected by the federal government, $2.86 is lost in economic activity because of less investment, less entrepreneurship, less spending and other behavioural changes that shrink the tax base.

— Apr 6, 2022
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No Free Lunch for the 99 Percent: Estimating Revenue Effects from Taxes on Top Earners

No Free Lunch for the 99 Percent: Estimating Revenue Effects from Taxes on Top Earners finds that if the federal government, which plans to table its next budget this week, wants to fund a major expansion of government, it simply can’t raise enough tax revenue solely from Canada’s upper-income families.

— Mar 24, 2022
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High Tax Rates on Top Earners in Atlantic Canada and Quebec

High Tax Rates on Top Earners in Atlantic Canada and Quebec is a new study that finds Atlantic Canada and Quebec have some of the highest personal income tax rates nationwide on individuals and households that earn $100,000 or more a year, but also have the lowest percentages of tax filers with over $100,000 of income. By comparison, Ontario and western Canadian provinces have lower tax rates on high-income earners, and also a higher share of tax filers that earn more than $100,000 annually.

— Feb 8, 2022
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Impact of Federal Income Tax Changes on Canadian Families in the Bottom 20 Percent of Earners, 2022

Impact of Federal Income Tax Changes on Canadian Families in the Bottom 20 Percent of Earners, 2022 finds that contrary to rhetoric from Ottawa, 60 per cent of taxpaying families with children in the bottom 20 per cent of income earners paid more federal personal income tax—$233 more on average compared with 2015.

Taxes Research Experts