June 10th is Tax Freedom Day in Canada

Order the cake and chill the champagne.

Thanks again to the Fraser Institute — who crunched all the numbers — we know that June 10th is national Tax Freedom Day, the day where Canadians start working for themselves after paying off the total tax bill imposed on them by all levels of government.

"Canadians are waiting an extra two days to celebrate Tax Freedom Day partly because governments across the country continue to increase taxes in an effort to make up for their overspending and deficits," the the think-tank's Charles Lammam, wrote in a press release to highlight their annual report.

"What’s worse, some governments are relying on the most damaging types of tax increases including higher tax rates on personal income and investment, which will ultimately discourage economic growth."

[ Related: New poll suggests the vast majority of Canadians support more taxes for the rich ]

As explained by the Fraser Institute, Tax Freedom Day varies from province to province, depending on the taxation levels of provincial and local governments.

They've even released a video as an illustration of where all our tax dollars flow:

Just in case you were curious: Tax Freedom Day in the United States and the UK was on April 18th and May 30th respectively. But, don't despair, we're not the worst: The French don't have their Tax Freedom Day until mid-July.

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