Tax Freedom Day comes later this year
Posted Jun 10, 2015 7:25 am.
This article is more than 5 years old.
Congratulations Canada! You’ve finally made enough money this year to say you’ve paid your tax bills.
The Fraser Institute has declared June 10 to be Tax Freedom Day, and it’s once again a day later than last year.
Charles Lemmam, who co-authored the report, says it’s a disturbing trend, as the day has come later each year since 2009 when it was June 3.
“We have seen a steady delay, partly driven by governments trying to increase taxes to close their deficits. Unfortunately, they haven’t been tremendously successful,” he said.
On average, Canadian families will hand over $45,000 to the tax man, although the picture is a bit better in Alberta.
The province’s Tax Freedom Day was actually back on May 19, a day earlier than last year, mostly due to lower taxes being collected in a slowing economy.
However, Lemmam cautions that’s likely to change.
“A new government is going to present its tax and spending plans in the fall,” he said. “My expectation is that we will see Tax Freedom Day change, perhaps come even later, based on the new government’s platform.”
