Canadians spent more on taxes than basic necessities in 2019: report
If you felt you paid a lot of money in taxes last year, you're not alone.
A recent report from the Fraser Institute found that the average Canadian family spent 42 per cent of their income on taxes in 2019.
"Taxes remain the largest household expense for families in Canada," Jake Fuss, economist at the Fraser Institute and co-author of The Canadian Consumer Tax Index, 2020, said in a news release.
According to the report, last year, the average Canadian family earned earned $91,535 and paid $38,963 in taxes compared to $33,178 for the basic necessities, including housing--rent and mortgage payments--food, and clothing combined.
This means the average family spent 42.6 per cent of its income on taxes, compared to 36.2 per cent on basic necessities.
The amount Canadian families spent on taxes includes visible and hidden taxes--paid to the federal, provincial and local governments--including income, payroll, sales, property, carbon, health, fuel and alcohol taxes.
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