• First Reference
  • About us
  • Contact us
  • 24th Annual Ontario Employment Law Conference 📣
  • Blog Signup 📨

First Reference Talks

Discussions on Human Resources, Employment Law, Payroll and Internal Controls

  • Home
  • About
  • Archives
  • Resources
You are here: Home / Payroll / June 10 is tax freedom day 2015

By Marie-Yosie Saint-Cyr, LL.B. Managing Editor | 2 Minutes Read June 12, 2015

June 10 is tax freedom day 2015

Image: http://opinion.financialpost.com
Image: http://opinion.financialpost.com
According to the Fraser Institute’s annual calculations Tax Freedom Day for the average Canadian family falls on June 10 this year, one day later than in 2014. This day is when Canadians start working for themselves and not government.

What is tax freedom day?

According to Paul Nightingale, Deputy Director of the Science Policy Research Unit (SPRU) at the University of Sussex, the concept was developed in the United States in 1948 by Dallas Hostetler who showed his entrepreneurial skill by trademarking the phrase. His yearly calculations were transferred to the Tax Foundation in 1971, and since then they have calculated it each year, gradually expanding its application to individual US States and now other nations.

In relation to Canada, Tax Freedom Day measures the total tax burden imposed on Canadian families by the federal, provincial and local governments, including income taxes, payroll taxes, health taxes, sales taxes, property taxes, fuel taxes, vehicle taxes, profit taxes, import taxes, ‘sin’ taxes on liquor and tobacco, and more. If you had to pay all your taxes up front, you’d give government each and every dollar you earned before Tax Freedom Day. “The later the Tax Freedom Day, the heavier the tax burden.”

What does the 2015 tax freedom day data mean to the average Canadian?

Here are some findings and conclusions from the Fraser Institute’s annual calculations:

  • Tax Freedom Day in 2015 arrives one day later than in 2014, when it fell on June 9, because the average Canadian family’s total tax bill is expected to increase at a faster rate this year (3.1%) than the growth in income (2.1%). Governments across the country are partly to blame since many have raised taxes this year.
  • In 2015, seven provincial governments expect to run budget deficits. Had Canadian governments increased taxes even more to balance their budgets, the average Canadian family would have worked until June 13 to pay the tax bill. In other words, the Balanced Budget Tax Freedom Day arrives on June 14, four days later than Tax Freedom Day.
  • In 2015, the average Canadian family will earn $102,874 in income and pay a total of $44,980 in taxes (43.7%).
  • Tax Freedom Day for each province varies according to the extent of the provincially levied tax burden. The earliest provincial Tax Freedom Day falls on May 19 in Alberta, while the latest falls on June 21 in Newfoundland & Labrador. Compared to last year, Tax Freedom Day comes later in 2015 for all provinces. This means that nearly all Canadians will work more for the government and less for themselves and their families this year.

Provincial 2015 Tax Freedom Days (earliest to latest)

  • AB: May 19
  • BC: June 06
  • SK: June 06
  • PE: June 08
  • ON: June 10
  • MB: June 11
  • NS: June 13
  • NB: June 14
  • QC: June 16
  • NL: June 21

Canadians can calculate their personal Tax Freedom Day using the Fraser Institute’s Personal Tax Freedom Day Calculator at www.fraserinstitute.org.

  • About
  • Latest Posts
Follow me
Marie-Yosie Saint-Cyr, LL.B. Managing Editor
Managing Editor at First Reference Inc.
Marie-Yosie Saint-Cyr, LL.B., is a trained lawyer called to the Quebec bar in 1988 and is still a member in good standing. She practiced business, employment and labour law until 1999. For over 20 years, Yosie has been the Managing Editor at First Reference. She manages the PolicyPro Human Resources and Internal Controls editions, The Human Resources Advisor editions, PaySource and the HRinfodesk news service as well as the blogs. Marie-Yosie (a.k.a. Yosie) is a recognized and respected author, with an extensive background in human resources, employment and labour across the country.
Follow me
Latest posts by Marie-Yosie Saint-Cyr, LL.B. Managing Editor (see all)
  • Ontario introduces Bill 79, Working for Workers Act, 2023 - March 29, 2023
  • Call for a ban on NDAs in certain cases - March 1, 2023
  • First Reference annual holiday donation, season’s greetings, and holiday break - December 23, 2022

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to email a link to a friend (Opens in new window)
  • Click to print (Opens in new window)
  • More
  • Click to share on Reddit (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on Mastodon (Opens in new window)

Article by Marie-Yosie Saint-Cyr, LL.B. Managing Editor / Payroll / fraser institute, Payroll taxes, Personal Tax Freedom Day Calculator, tax freedom day, Tax Freedom Day 2015, tax rates, taxes

Get the Latest Posts in your Inbox for Free!

Electronic monitoring

About Marie-Yosie Saint-Cyr, LL.B. Managing Editor

Marie-Yosie Saint-Cyr, LL.B., is a trained lawyer called to the Quebec bar in 1988 and is still a member in good standing. She practiced business, employment and labour law until 1999. For over 20 years, Yosie has been the Managing Editor at First Reference. She manages the PolicyPro Human Resources and Internal Controls editions, The Human Resources Advisor editions, PaySource and the HRinfodesk news service as well as the blogs. Marie-Yosie (a.k.a. Yosie) is a recognized and respected author, with an extensive background in human resources, employment and labour across the country.

Footer

About us

Established in 1995, First Reference is the leading publisher of up to date, practical and authoritative HR compliance and policy databases that are essential to ensure organizations meet their due diligence and duty of care requirements.

First Reference Talks

  • Home
  • About
  • Archives
  • Resources

Main Menu

  • About First Reference
  • Resources
  • Contact us
  • 1 800 750 8175

Stay Connected

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

We welcome your comments on our blog articles. However, we do not respond to specific legal questions in this space.
We do not provide any form of legal advice or legal opinion. Please consult a lawyer in your jurisdiction or try one of our products.


Copyright © 2009 - 2023 · First Reference Inc. · All Rights Reserved
Legal and Copyright Notices · Publisher's Disclaimer · Privacy Policy · Accessibility Policy