The newly-announced GST holiday and tax rebate is a grab bag of bad ideas that will not get Canada out of its long-term growth rut.
tax burden
Since 1961, the average family’s tax bill has increased 180.3 per cent after adjusting for inflation.
Canadians should consider the $69.9 billion in combined federal and provincial deficits as deferred taxes.
In 2024, the average Canadian family earning $147,570 will pay an estimated $65,766 in total taxes.
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 carbon tax will rise to $80 per tonne this year.
The top 10 per cent earned 29.1 per cent of all income but paid 35.8 per cent of the total tax burden.
The average family in the province earning $112,418 will pay $49,623 in total taxes.
The average family in the province will pay more than 45 per cent of its income in taxes this year.
The average family in the province will pay more than 43 per cent of its income in taxes this year.