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Government takes hands out of taxpayers' pockets June 19

(CNW) Canadians will start working for themselves this Monday, June 19.


(CNW) Canadians will start working for themselves this Monday, June 19.

According to The Fraser Institute's annual Tax Freedom Day calculations, Canadians have to work until Sunday, June 18 to pay the total tax bill imposed on them by all levels of government.Tax Freedom Day arrives five days earlier than in 2005, when it fell on June 24.The latest Tax Freedom Day was in 2000, when it fell on June 25. Tax Freedom Day decreased to June 18 in 2001 before increasing to June 22 in 2002 and 2003, June 23 in 2004, and June 24 in 2005.

Tax Freedom Day falls over a month and a half later than it did 45 years ago,  said Niels Veldhuis, senior research economist at the institute.

In 1961, the earliest year for which the calculation has been made, Canada's Tax Freedom Day was May 3.

The Fraser Institute calculates Tax Freedom Day to provide a simple reference point about the impact of government tax collection. The institute has been researching the comprehensive tax burden on the average family in Canada and in each of the provinces since 1977."It is nearly impossible for an ordinary citizen to have a clear idea ofhow much tax they really pay. Tax Freedom Day gives Canadians a true picture of their total tax burden," said Veldhuis.
 
Tax Freedom Day calculations include all taxes levied on Canadians such as income taxes, property taxes, and sales taxes, as well as profit taxes,health, social security and employment taxes, import duties, license fees,taxes on the consumption of alcohol and tobacco ("sin" taxes), natural resource fees, fuel taxes, hospital taxes, and a host of other levies. 




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