From: AlanBaggett@volcanomail.com   
      
   June 7th was Tax Freedom Day in Canada : CRA SOTW   
      
      
   By Jackie Ruryk, CBC News   
      
   The Fraser Institute states June 7th as the official Tax Freedom Day but the   
   date may vary depending on where you live.   
      
   Canadians being taxed to the max can take comfort in this being Tax Freedom   
   Day.   
      
   The Fraser Institute picked June 7th this year as the day the average Canadian   
   family has worked long enough to pay its total tax bill.   
      
   It’s a hypothetical day meaning if you had to pay all your taxes up front o   
   different levels of government you would now be in the clear to keep the rest   
   of your earnings until the new year begins.   
      
   In 2016 the average Canadian family (with 2 or more people) earning $105,236   
   will pay $45,167 in total taxes. That’s 42.9% of its annual income.   
      
   On the calendar those months represent more than 5 months of income – from   
   Jan 1 to June 6. Therefore it’s only on June 7th when families start working   
   for themselves and not the government.    
      
   The Vancouver based think tank calculates the burden to include income taxes,   
   payroll taxes, taxes on health and property as well as what is levied on sales   
   and fuel.   
      
   EARLIER THAN 2015   
      
   While Tax Freedom day comes two days earlier than in 2015, “It’s not   
   because of any major tax reductions,” the institute says. It notes that 2016   
   is a leap year which helped the date arrive earlier.   
      
   And because the day is calculated based on federal and provincial tax revenue   
   forecasts, overly conservative revenue estimates moved the date earlier up the   
   calendar.   
      
   When governments provide actual revenue estimates at the end of the year tax   
   freedom day calculations are revised.   
      
   Before all Canadians can mark the day, however, the Fraser Institute says that   
   they need to remember that there are different tax freedom days depending on   
   where they live.   
      
   Albertans would have seen their tax burden lifted by May 17, while taxpayers   
   in Newfoundland and Labrador won’t have theirs lifted until June 14th.    
      
   PROVINCIAL TAX FREEDOM DAYS EARLIEST TO LATEST   
      
   Alberta      May 17   
   Saskatchewan      June 1      
   Prince Edward Island     June 1   
   British Colombia     June 5   
   Ontario      June 5         
   Manitoba     June 7   
   Nova Scotia     June 9   
   New Brunswick     June 11   
   Quebec     June 13   
   Newfoundland and Labrador      June 14   
      
   More than three decades ago, 1981, Tax Freedom Day fell on May 30th. In 2000   
   it was June 25th.    
      
   In the United Kingdom June 3rd was declared Tax Freedom day by the Adam Smith   
   Society a group of economists, business school leaders and other academics.   
      
   “We work longer for the government than medieval serfs had to work for their   
   Lords,” said the society.     
       
      
      
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