Hard-working Canadian can celebrate Tax Freedom Day this weekend!
It's the day in the year when we start working for ourselves -- and not government.
The Fraser Institute study finds if Canadians paid all their taxes up front, they would work the first 158 days of this year before bringing any money home.
Tax Freedom Day measures the total annual tax burden imposed on Canadian families by federal, provincial, and municipal governments.
This year, the average Canadian family two or more people) will pay $68,266 in total taxes.
That's 43.1% of its annual income ($158,533) going to income taxes, payroll taxes (including the Canada Pension Plan), health taxes, sales taxes (like the GST), property taxes, fuel taxes, "sin" taxes and more.
But Canadians should also be worried about the nearly $90-billion in deficits the federal and provincial governments are forecasting this year, because that will have substantial tax implications in future years.
BC tied with Alberta & PEI for "Provincial Tax Freedom Days'.
BC workers started paying themselves last Sunday, May 31.