In 2023, the average Canadian family paid 46 percent of its annual income in taxes—including income taxes, property taxes, payroll taxes, sales taxes, carbon taxes, and more, says Jake Fuss, director of fiscal studies at the Fraser Institute think tank.
“And that’s before any of the increases that we’re going to see in 2024,” he told The Epoch Times.
A slew of tax hikes are coming through, including at the federal level a rise in Canada Pension Plan (CPP) and Employment Insurance (EI) contributions and in the carbon tax, alcohol tax, and more. On the municipal level, many major cities are seeing big property tax hikes.