Taxes are much on our minds at the end of April aren’t they?- not just property tax but Federal and Provincial. How many days are you working for yourself and how many for the common weal? You can find out here with this handy dandy tax calculator:
This calculator includes all taxes from all levels of government that Canadians pay including income & sales taxes; liquor, tobacco, amusement & other excise taxes; automobile, fuel, & motor vehicle licence taxes; CPP/QPP and EI contributions, medical & hospital taxes; property taxes; import duties; profit taxes; and natural resource levies.We note that if we lived in Alberta Tax Freedom day would come for us 2 full weeks earlier!
The G& M front page article this morning told us that Canada’s top 10% pay 52% of the Federal Tax bill. But note it also pointed out further down that:
A Statscan study released last month showed that at the municipal level, low-income earners do shoulder a greater tax burden. In every one of the 342 municipalities surveyed, low-income homeowners paid proportionally more of their income in property tax than did their higher-income counterparts, the study said.
Please keep this in mind Councillors!