The Broadbent Institute takes an open swipe at the annual Tax Freedom Day report from the Fraser Institute which calculates that Canadian families pay 40 per cent in tax, and a study by Macdonald-Laurier Institute which says the tax burden is increasing.
Broadbent says that using “more accurate statistical methods” it has calculated that the actual tax burden for a typical Canadian family is 24 per cent with income tax only for an individual worker aged 25-54 at 14 per cent.
It says that only 2 per cent of working Canadians pay more than 30 per cent in income tax with those earning $250,000 or more averaging 29 per cent.
also highlights that Canada’s tax burden in relation to GDP is lower than most of its OECD peers.
More market update:
A new study aims to bust the theory that Canadians pay too much tax.