From now on its all yours. Yesterday was Tax Freedom Day in Canada, the point in the calendar year when – theoretically – you’ve paid all your taxes, if you devoted 100 per cent of your income to this point to paying government fees and levies.
That isn’t the way it works, of course, but the Fraser Institute uses this methodology to point how the size of government and how deeply or lightly it digs into your pocket.
The 2024 version notes that 44.6 per cent of the average income in this country is taken by government to fund services from the local municipality to the federal administration.
Provincially, Saskatchewan hit Tax Freedom Day almost two weeks ago on June 2. That is second-best in the nation behind have-not province Manitoba which crossed over in May. For us, June 2 is pretty much on par with the past few years but considerably better than 2005 when we had to get into July to make the cross-over.
The average family income in Saskatchewan they say is $152,000 which is number three in the country and we pay $63,500 in taxes which ranks fourth.
