Canadians’ tax payments last year were higher than their total spending on housing, food, and clothing combined, a new study suggests.
Canadians dedicate roughly 42 percent of their income to taxes and approximately 36 percent goes to pay for essential needs such as food, housing, and clothing, according to the latest report from the Fraser Institute.
“At a time when the cost of living is top of mind across the country, taxes remain the largest household expense for Canadian families,” Fraser Institute director of fiscal studies Jake Fuss said in an Aug. 13 press release.
“While Canadians can decide for themselves whether or not they get good value for their tax dollars, they should understand how much they pay in taxes each year and how much the tax burden has grown relative to other necessary costs they must pay.”…