Tax Freedom Day in Canada Finally Arrives! :CRA SOTW
Alan Baggett
Finally free of taxes, for now
Canwest News Service
Published: Friday, June 13, 2008
VANCOUVER -- Today is Tax Freedom Day, that satisfying day Canadians
stop working to pay off their annual accumulated taxes and can
unofficially start working for themselves.
The yearly survey is computed by Vancouver-based think-tank the Fraser
Institute, based on income tax, property tax, sales tax, alcohol and
tobacco tax, fuel tax and the list doesn't stop there, taking into
account federal, provincial and local taxes.
"Given the number of different taxes imposed on Canadians, it is
virtually impossible to know exactly how much tax we pay," Niels
Veldhuis, the institute's director of fiscal studies, said in a
statement. "The point of Tax Freedom Day is to give people a
comprehensive and easy-to-understand indicator of the total amount of
taxes paid to all three levels of government."
Although June 14 signifies a now taxless year for the average
Canadian, citizens in the majority of provinces should have already
celebrated - only Quebec, Saskatchewan and Newfoundland fall after
today's date. (June 19, 20 and 30 respectively.)
Albertans paid off their debt to society on May 28.
This year's national date moved up four days, from June 18, which was
in turn five days up from the year before on June 23. But 2005 marked
the latest Tax Free Day, on June 25, since the study began in 1961.
Recent tax cuts can be attributed to the shifting date, the Fraser
Institute said, pointing to the federal GST cut and provincial tax
breaks and reductions.
In 2008, the average Canadian family will earn $90,678, paying a total
of $40,667 in taxes - or 44.8 per cent of its income. Income for the
average family will increase by 2.8 per cent ($2,501) this year while
the total tax bill increases 0.6 per cent ($223).
Many countries around the world also celebrate their own Tax Freedom
Day, including Australia, Bulgaria, the Czech Republic and the United
Kingdom.
© Canwest News Service
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> Tax Freedom Day in Canada Finally Arrives! :CRA SOTW
>
*snip*
Does that mean that the hookers in the market will stop adding the GST
on their "services" that they perform on you?