According to the Fraser Institute’s annual calculations, Tax Freedom Day arrives one day later than in 2011, when it fell on June 10. Monday, June 11, 2012, is Tax Freedom Day, the day Canadians have finally earned enough money to pay all the taxes they owe to all levels of government for the year and start working themselves.
As indicated by the Fraser Institute, June 6, 2011 marks tax freedom day! Canadians start working for themselves after paying off the total tax bill imposed on them by all levels of government. So what does that mean?