Taxes

Taxes versus the Necessities of Life: The Canadian Consumer Tax Index 2023 edition

— Aug 22, 2023

Taxes versus the Necessities of Life: The Canadian Consumer Tax Index 2023 Edition is a new study that finds in 2022, the average Canadian family earned an income of $106,430 and paid $48,199 in total taxes--meaning, the average Canadian family spent 45.3 per cent of its income on taxes compared to 35.6 per cent on basic necessities.

New Brunswick’s Divergent Finances: A Possible Opportunity for Tax Reduction

— Aug 10, 2023

New Brunswick’s Divergent Finances: A Possible Opportunity for Tax Reduction finds that as a result of the New Brunswick government’s recent spending restraint, the province is now positioned to introduce meaningful tax relief, which if current government revenue and spending growth continues, could reach over $3,600 per taxpayer by 2032/33 without jeopardizing the province’s balanced budget.

Measuring Progressivity in Canada’s Tax System, 2023

— Aug 1, 2023

Measuring Progressivity in Canada’s Tax System, 2023 finds that the top 20 per cent of income-earning families pay more than half (53.1 per cent) of total taxes including sales and property taxes. Conversely, the bottom 20 per cent of income-earning families pay 2.0 per cent of total taxes, due partly to the progressivity of Canada’s tax system where the share of taxes paid typically increases as incomes rise.

A Poll of Canadians on the Fair Share of Taxes

— Jul 13, 2023

A Poll of Canadians on the Fair Share of Taxes finds that the majority of Canadians (58 per cent) believe personal income tax rates should not exceed 50 per cent, and yet the top combined personal income tax rate in every province (except Alberta and Saskatchewan) currently exceeds 50 per cent.

Canadians Celebrate Tax Freedom Day on June 19, 2023

— Jun 19, 2023

This year, Tax Freedom Day is Monday, June 19. 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 2023, the average Canadian family (with two or more people) will pay 46.1 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.

Calculate Your Personal Tax Freedom Day

The Cost of Business Subsidies in Canada

— Mar 14, 2023

The Cost of Business Subsides in Canada finds that from 2007 to 2019 (the latest year of available pre-COVID data), federal, provincial and local governments spent more than $350 billion on business subsidies—also known as corporate welfare.