Canadian Families Spend More on Tax Than Food, Shelter and Clothes
August 28, 2015 Taxation in Canada
OTTAWA – Taxes paid out by families in Canada have risen by almost 150 percent over the last 54 years.
The average Canadian family spends more each year on taxes than they do on food clothing and shelter, according to new research released by the Canadian non-government organization Fraser Institute.
In 2014 the average Canadian family paid out approximately CAD 28 887 for food, shelter and clothing combined, while earning CAD 79 010 in salaries, and at the same time they paid out a total of CAD 33 272 in taxes.
The outgoings are equivalent to 42.1 percent of the average income being paid out in taxes and 36.6 percent for basic necessitates.
It was noted that taxes have not always made up such a large portion of incomes, as in 1961 taxes accounted for 33.5 percent of incomes, while food and other basic necessitates accounted for 56.5 percent of incomes.
In total, the tax bill faced by Canadian families has risen by approximately 1 886 percent since in 1961 in absolute terms, and approximately 149.2 percent when accounting for taxation.
Photo By: Matt MacGillivray