The average Canadian household devoted more than 40 percent of its income to taxes last year, exceeding the combined costs of housing, food, and clothing, according to a newly released report.
A Canadian family with a combined income of $114,289 paid $48,306 in taxes in 2024, accounting for 42.3 percent of their income, a study published by the Fraser Institute suggests. That figure is 6.8 percent more than the 35.5 percent of income that Canadians designated for housing, food, and clothing combined.
“At a time when the cost of living is top of mind across the country, taxes remain the largest household expense for Canadian families,” said report co-author and Fraser Institute director of fiscal studies Jake Fuss….