It’s Tax Freedom Day

Posted Jun 11, 2012 6:57 am.

This article is more than 5 years old.

Monday is the day Canadians have finally earned enough money to pay all the taxes they owe to all levels of government for the year.

Tax Freedom Day comes one day later than in 2011, according to calculations by the Fraser Institute.

The report finds the average Canadian family will earn over $94-thousand and pay a total of $41,627 in taxes.

The largest tax increase this year comes in the form of social security, pension, medical and hospital taxes, up $507 for the average Canadian family.

Broken down by province, Alberta continues to enjoy the earliest Tax Freedom Day on May 22.

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