Since 1961, the average family’s tax bill has increased 180.3 per cent after adjusting for inflation.
income taxes
This year the top 20 per cent of income-earning families in Canada will pay 54.2 per cent of total taxes.
Canadians should consider the $69.9 billion in combined federal and provincial deficits as deferred taxes.
At $50,000 of income, residents in the province face the third-highest tax rate among 61 jurisdictions in North America.
In 2024, the average Canadian family earning $147,570 will pay an estimated $65,766 in total taxes.
An individual making C$50,000 per year faces a higher income tax rate in Ontario than in every U.S. state.
According to polling data, 80 per cent of Canadians don’t want average families to pay more than 40 per cent of their income in taxes.
The federal government raised the top income tax rate from 29 per cent to 33 per cent.
Expenditures on housing comprise less than half of what the average family pays in taxes.