Welcome guest.  ( Sign in )

Canadians spent more on taxes than food and housing combined!

August 23, 2016 - Updated: August 23, 2016

Study: average Canadian family spent more on taxes than food and housing combined last year

 
 
 

The Vancouver-based think-tank estimates that the average bill for income taxes collected by governments was $10,616 in 2015.

The second-biggest category was payroll and health taxes, at $7,160, followed by sales taxes at $4,973 and property taxes at $3,832.
The other categories include taxes on profits, liquor or tobacco, fuel, natural resources and import duties - totalling $7,573.

The study's authors conclude that visible and hidden taxes would have been equal to 42.4 per cent of the cash income for an average Canadian family in 2015, estimated at $80,593.

By comparison, the study estimates the average Canadian family spent $30,293 on housing, food and clothing last year - about 37.6 per cent of the family's total cash income.

The Fraser Institute uses its own "Canadian consumer tax index'' to track the tax bill paid by a family with "average income.''

"The objective is not to trace the tax experience of a particular family, but rather to plot the experience of a family that was average in each year,'' the 11-page report says.

"The 'consumer' in question is the taxpaying family, which can be thought of as consuming government services.''

Are you or someone you know looking to buy or sell a property? At Durham Bungalows we can make the process go smoothly.

 

source: http://www.canadianrealestatemagazine.ca/news/study-average-canadian-family-spent-more-on-taxes-than-food-and-housing-combined-last-year-212579.aspx


Tagged with: taxes housing
| | Share

Boost your Credit Score regardless of age.

Originally posted on: April 26, 2018
Filed under: credit credit score
Credit scores are important. Many people are taking more time to review their scores and finding ways to improve them, especially younger consum ...

Green Ontario Fund Energy Rebates

Originally posted on: April 10, 2018
Last updated on: April 10, 2018
Filed under: green on greenon energy
If you have not heard of this, it is a Government Program to entice us to have a smaller carbon footprint and reduce energy costs. There are dif ...

History of Easter

Originally posted on: March 29, 2018
Last updated on: March 29, 2018
Filed under: easter history
Happy Easter Weekend! The Ancient Pagan Origins of Easter ...

How to protect your information.

Originally posted on: March 2, 2018
Last updated on: March 2, 2018
Filed under: online password protection
Many of us spend a lot of time online. We shop, use social media to connect with family and friends, send personal and business emails, pay bill ...

History of Valentine's Day

Originally posted on: February 14, 2018
Last updated on: February 14, 2018
Filed under: history valentine valentines
Happy Valentine's Day Everyone, If you have ever wondered how Valentine's Day start here is an article that goes over it. Plea ...
Sales Representative


Durham Bungalows
Brokerage
Independently owned and operated.

420 Green Street #105
Whitby, ON L1N 8R1


Phone: 1-289-274-2273
Powered by Lone Wolf Real Estate Technologies (CMS6)