Taxes are divided in many categories and vary from province to province. (Fraser Institute)

Tax bill paid for the year, you’re working for yourself

B.C. in the middle of the Canadian pack for Tax Freedom Day

After five months of paying for various levels of government service, Canadians are on average working for themselves this week.

Tax Freedom Day 2018 arrived Sunday, June 10, based on the Fraser Institute’s annual calculation of total tax paid to all levels of government across the country. By that calculation, the average Canadian family pays 43.6 per cent of its annual income in payroll, income, health, sales, property, fuel, carbon, liquor, tobacco and other taxes, equivalent to more than five months of the year if all the taxes were paid up front.

“Tax Freedom Day helps put the total tax burden into perspective, and helps Canadians understand just how much of their money they pay in taxes every year,” said Charles Lammam, director of fiscal studies at the Fraser Institute.

B.C. is currently in the middle of the taxation pack for provinces, due to its mix of provincial sales and income taxes. B.C.’s Tax Freedom Day was June 5 this year, fifth behind Alberta (May 22), Saskatchewan (June 1), Prince Edward Island (June 2) and Manitoba (June 3).

Next is Ontario (June 9), New Brunswick (June 10), Nova Scotia (June 15), Quebec (June 26) and the highest taxes province, Newfoundland and Labrador (June 26).

The dates are based on averages, and the Fraser Institute has an online calculator for people to enter their own province and family income to determine their personal Tax Freedom Day.

RELATED: Payroll tax replaces medical premiums

B.C.’s new NDP government inherited a large surplus when it took office last summer, allowing it to proceed with planned reductions in small business tax and hold the line on income taxes, except for adding a new top bracket for high income earners.

B.C.’s main shift was an increase in carbon tax on fuels that took effect April 1, with a policy change that carbon tax increases would no longer be offset by reductions in personal income tax rates.

Just Posted

Runners crowned at 41st King of the Mountain Race

The event was organized by the Skeena Valley Runners for the first time this year

Terrace to hold fundraiser for Telegraph Creek fire evacuees

Terrace Professional Firefighters, mayor and council will be serving up Mr.Mikes burgers August 16

Terrace-area hiking trail closed due to grizzly activity

Closure of Gunsight Lake Trail expected to last one week

B.C. Wildfires 2018: Thousands prepare to leave their homes at a moment’s notice

Northwest B.C. and Cariboo seeing most fire activity in province as crews battle 490 fires

UPDATE: 5 injured in plane crash following Abbotsford International Airshow

One in critical condition in incident involving vintage plane

Average Canadian family spends 43% of income on taxes: study

Fraser Institute’s consumer report shows taxes accounting for larger chunk of income each year

Column: Mother orca’s display of grief sends powerful message

The grief of this orca mother may not be visible anymore, but we must not forget.

Seven people with ties to Red Scorpions gang arrested in B.C. drug bust

Delta police have secured 94 charges against seven people, including drug and firearm offences

Second measles scare this summer at YVR

An infected traveller flew out of Vancouver’s airport three times

Judge OKs Weinstein suit, cites casting couch’s history

Actress Kadian Noble can sue disgraced Hollywood mogul for violating sex trafficking laws

Employers to raise salaries 2.6% on average next year: report

Firm points to factors such possibility of more trade protectionism, rising interest rates

PM Trudeau and federal ministers to meet on Vancouver Island

Cabinet retreat will be held in Nanaimo from Aug. 21-23

B.C. school’s pledge to ban sex outside of heterosexual marriage now optional

Community convenant of Langley’s Trinity Western University has been centre of rights debate

48 sockeye, harbour seal seized from poachers caught on B.C. river

Charges pending after two poachers arrested for salmon fishing at night

Most Read