What is Tax Freedom Day in Canada?

Listen to this Podcast

What is Tax Freedom Day in Canada?

Get ready Canada – the day is coming when you can start actually keeping your money.

That’s because Tax Freedom Day is almost here!

According to the Fraser Institute, a Canadian public policy think-tank based in Vancouver, Tax Freedom Day marks the day when Canadians officially start keeping the money they make, instead of turning it over to federal, provincial, and municipal tax collectors.

Because provincial tax rates vary between provinces, Tax Freedom Day’s actual date is different across the country. For example, in 2017 Alberta marked it on May 21, earlier than any other province due to Alberta not collecting provincial sales tax. In contrast, the highly taxed citizens of Newfoundland and Labrador enjoyed tax freedom on June 25, well over a month after their westerly counterparts.

In other words, the total amount a person in Newfoundland and Labrador earned between January 1 and June 25 represented their total tax bill for that year. If that amount were due up front, every penny they made until June 25 would be paid to the government. That’s nearly half the entire year!

How Tax Freedom Day is Calculated
The date is calculated based on models created from data available from Statistics Canada and the Canada Revenue Agency. The model takes into account an individual’s marital and family status, location, as age, as well as a whole host of the different taxes they pay, including income, property, sales, health, carbon, and more.

Let’s look at an actual example. According to the Fraser Institute, the average Canadian family (two or more people) earned $108,674 in 2017. Using the model, a family of four in Ontario that includes two dependent children and a head of household who is 45 years old will celebrate Tax Freedom Day on June 5. That means that they spent 155 days working for the government and 210 days working for themselves, and have a total tax bill of $46,066.

Wherever you are in Canada, enjoy Tax Freedom Day. You’ve more than earned it!

Interested in tax-saving strategies that will help you keep more of your money for your family? Talk to your financial advisor today – we’re here to help!

When is Tax Freedom Day 2018 for your family?
Use this handy calculator to find out: https://www.fraserinstitute.org/tax-freedom-day-calculator

3,197 thoughts on “What is Tax Freedom Day in Canada?

  1. comprar viagra says:

    En esos casos el hombre puede tener erecciones al despertarse o espontáneas. Enfermedades neurológicas: Como lo mencionamos en el anterior, la erección se produce con la circulación sanguínea, pero es el cerebro el que indica dicho proceso mediante la excitación y los estímulos sexuales. Las causas físicas de los problemas de erección son más comunes en hombres de edad avanzada.

  2. comprar cialis genérico says:

    Afecta la capacidad del hombre de llegar a la tener una erección debido a la compresión de los vasos sanguíneos. ¿Sabes que es un simulacro? El hombre no debería mostrar ninguna postura demasiado grande de espera, dentro de la terapia de pareja, se puede obtener una mejora.

  3. comprar viagra generico says:

    Incluso en casos de impotencia por problemas físicos, muchos hombres la necesitan para poder problemas de autoestima derivados de esta enfermedad. Ante cualquier anomalía física, el tratamiento de la misma puede solucionar el problema de la impotencia.

  4. acompanhantes de goiania says:

    281130 711194Can I simply say exactly what a relief to get someone who truly knows what theyre dealing with on the internet. You really know how to bring a difficulty to light and make it crucial. The diet need to see this and fully grasp this side on the story. I cant believe youre not far more common because you undoubtedly hold the gift. 443591

  5. 3-mmc buy says:

    173241 329929Excellent blog here! Also your website loads up fast! What host are you making use of? Can I get your affiliate link to your host? I wish my website loaded up as rapidly as yours lol 555353

  6. live sex cams says:

    157185 638076Hello. Cool article. Theres an issue with the site in internet explorer, and you might want to test this The browser will be the marketplace chief and a large element of other folks will miss your fantastic writing due to this issue. 251446

  7. child porn says:

    870768 980500Thank you for the good writeup. It in fact was a amusement account it. Appear advanced to far added agreeable from you! However, how could we communicate? 775182

  8. gay porn says:

    379836 530049Admiring the time and effort you put into your site and in depth data you offer. Its good to come across a blog every once in a whilst that isnt the same out of date rehashed material. Wonderful read! Ive saved your site and Im including your RSS feeds to my Google account. 917883

  9. 12betvn88 says:

    686488 728484Exceptional post nevertheless , I was wanting to know should you could write a litte a lot more on this subject? Id be quite thankful in case you could elaborate a bit bit much more. Thanks! 198135

  10. vn88.com.vn says:

    836909 501208Im often to blogging and i in actual fact respect your content. The piece has really peaks my interest. Im going to bookmark your content and preserve checking for brand new info. 877322

  11. THC Vape Oil says:

    893818 272454Spot on with this write-up, I truly believe this website needs significantly far more consideration. Ill probably be once more to read considerably much more, thanks for that information. 208261

  12. child porn says:

    787818 890581Im often to blogging and i in actual fact respect your content material. The piece has truly peaks my interest. Im going to bookmark your content material and preserve checking for brand new info. 339830

  13. ABSTRACT says:

    877205 301521Hey there guys, newbie here. Ive lurked about here for just a little while and thought Id take part in! Looks like youve got quite a great location here 931845

  14. Pingback: sildenafil online

  15. Pingback: Google

  16. Pingback: ed meds online

  17. Pingback: make money online

  18. Pingback: make money online

  19. Pingback: kitt replica for sale

  20. Pingback: Blessed CBD

  21. Pingback: erectile dysfunction drug

  22. Pingback: CBD oil for anxiety

  23. Pingback: CBD oils UK

  24. Pingback: Google

  25. Pingback: Blessed CBD

  26. Pingback: buy CBD oils

  27. Pingback: CBD products

  28. Pingback: CBD oil for depression

  29. Pingback: ed meds online

  30. Pingback: generic cialis online