We should all be celebrating this exciting occasion - that we have worked all year for nothing...
Canadian tax freedom day is Saturday, Fraser Institute
The Canadian Press
Tax freedom day — the day average Canadians have paid off the year’s tax load and begin working for themselves — arrives Saturday, according to the Fraser Institute.The free-market-oriented think-tank said today that governments are letting the citizenry keep four days’ worth of earnings more than last year.Niels Veldhuis, the Fraser Institute’s director of fiscal studies, says Canadians spend almost half the year working to pay all the various taxes levied on them by federal, provincial and local governments.Effectively, “every dollar they earn before June 14 would be required to pay the taxes owing to all levels of government.”The computation of tax freedom day includes income taxes, property taxes, sales taxes, profit taxes, health, social security and employment taxes, import duties, licence fees, taxes on alcohol and tobacco, natural resource fees, fuel taxes, hospital taxes and an array of other levies.
Friday, June 13, 2008
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