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The Fraser Institute, May 19, 2020 is Tax Freedom Day

May 19, 2020 is Tax Freedom Day

Tax Freedom Day is the day in the year when the average Canadian family has

earned enough money to pay the taxes imposed on it by all three levels of

government (federal, provincial, and local).This year Tax Freedom Day falls on May 19th.

This means that if Canadians had to pay all their taxes up front, they

would have to pay each and every dollar they earned to governments prior to Tax

Freedom Day, when they finally start working for themselves. Ordinarily Tax

Freedom Day comes much later in the year—last year it fell on June 8th—but, an

earlier Tax Freedom Day this year is nothing to celebrate since it's not the

result of governments reducing taxes. Instead, Canadian families have been

significantly affected by the economic shutdowns in response to COVID-19. When

the economy slows and incomes decline, Canadians are bumped into lower income

tax brackets and pay a smaller percentage of income in taxes. Canadians

have also reduced their spending, which means less sales taxes are paid. And

Canadians should also be worried about the tax implications of the more than

$300 billion dollars in deficits our governments are running this year. These

unprecedented deficits will have to be paid eventually by Canadian taxpayers in

the form of higher taxes. So, in order to see how these deficits will affect Tax

Freedom Day in the future, we calculated a Balanced Budget Tax Freedom Day, the

day of the year when average Canadians would start working for themselves if

governments were obliged to cover current spending with current tax

revenues. In 2020 the Balanced Budget Tax Freedom Day won't arrive until July 26th!

That's another reason there's little to celebrate this Tax Freedom Day.

For more information, visit FraserInstitute.org


May 19, 2020 is Tax Freedom Day May 19, 2020 is Tax Freedom Day Le 19 mai 2020 est la journée de la liberté fiscale 19 de maio de 2020 é o Dia da Liberdade Fiscal 2020 年 5 月 19 日是税收自由日

Tax Freedom Day is the day in the year when the average Canadian family has Tax Freedom Day is the day in the year when the average Canadian family has El Día de la Libertad Fiscal es el día del año en que la familia canadiense promedio tiene O Dia da Liberdade Fiscal é o dia do ano em que a família canadense média tem 免税日是一年中普通加拿大家庭拥有

earned enough money to pay the taxes imposed on it by all three levels of ganado suficiente dinero para pagar los impuestos que le imponen los tres niveles de ganhou dinheiro suficiente para pagar os impostos que lhe são impostos pelos três níveis de 赚到足够的钱来支付所有三个级别对其征收的税款

government (federal, provincial, and local).This year Tax Freedom Day falls on May 19th. governo (federal, provincial e local). Este ano, o Dia da Liberdade Fiscal cai em 19 de maio. 政府（联邦、省和地方）。今年的免税日是 5 月 19 日。

This means that if Canadians had to pay all their taxes up front, they هذا يعني أنه إذا كان على الكنديين دفع جميع ضرائبهم مقدمًا ، فهم Esto significa que si los canadienses tuvieran que pagar todos sus impuestos por adelantado, Isso significa que se os canadenses tivessem que pagar todos os seus impostos antecipadamente, eles 这意味着如果加拿大人必须预先支付所有税款，他们

would have to pay each and every dollar they earned to governments prior to Tax tendrían que pagar todos y cada uno de los dólares que ganaron a los gobiernos antes de Tax teriam que pagar cada dólar que ganhassem aos governos antes do Imposto 必须在税前向政府支付他们赚取的每一美元

Freedom Day, when they finally start working for themselves. Ordinarily Tax Día de la Libertad, cuando finalmente comienzan a trabajar por sí mismos. Impuesto Ordinario Dia da Liberdade, quando finalmente começam a trabalhar por conta própria. Normalmente Imposto 自由日，当他们终于开始为自己工作时。通常征税

Freedom Day comes much later in the year—last year it fell on June 8th—but, an O Dia da Liberdade chega muito mais tarde no ano - no ano passado caiu em 8 de junho - mas, um 自由日来得晚得多——去年是 6 月 8 日——但是，一个

earlier Tax Freedom Day this year is nothing to celebrate since it's not the anterior o Dia da Liberdade Fiscal este ano não é nada para comemorar, pois não é o 今年早些时候的税收自由日没有什么值得庆祝的，因为它不是

result of governments reducing taxes. Instead, Canadian families have been resultado de governos reduzindo impostos. Em vez disso, as famílias canadenses foram

significantly affected by the economic shutdowns in response to COVID-19. When significativamente afectados por los cierres económicos en respuesta a COVID-19. Cuando significativamente afetados pelas paralisações econômicas em resposta ao COVID-19. Quando 受 COVID-19 经济停摆的严重影响。什么时候

the economy slows and incomes decline, Canadians are bumped into lower income a economia desacelera e a renda diminui, os canadenses são esbarrados em renda mais baixa 经济放缓，收入下降，加拿大人收入下降

tax brackets and pay a smaller percentage of income in taxes. Canadians tramos impositivos y pagan un porcentaje menor de los ingresos en impuestos. canadienses faixas de impostos e pagam uma porcentagem menor de renda em impostos. canadenses 税级并支付较小比例的收入税。加拿大人

have also reduced their spending, which means less sales taxes are paid. And também reduziram seus gastos, o que significa que menos impostos sobre vendas são pagos. E

Canadians should also be worried about the tax implications of the more than Os canadenses também devem se preocupar com as implicações fiscais dos mais de 加拿大人还应该担心超过

$300 billion dollars in deficits our governments are running this year. These $ 300 bilhões de dólares em déficits que nossos governos estão executando este ano. Esses 我们的政府今年有 3000 亿美元的赤字。这些

unprecedented deficits will have to be paid eventually by Canadian taxpayers in déficits sem precedentes terão que ser pagos eventualmente pelos contribuintes canadenses em 加拿大纳税人最终将不得不支付前所未有的赤字

the form of higher taxes. So, in order to see how these deficits will affect Tax la forma de impuestos más altos. Entonces, para ver cómo afectarán estos déficits a Impuestos sob a forma de impostos mais elevados. Então, para ver como esses déficits afetarão a 更高税收的形式。因此，为了了解这些赤字将如何影响税收

Freedom Day in the future, we calculated a Balanced Budget Tax Freedom Day, the Freedom Day no futuro, calculamos um Balanced Budget Tax Freedom Day, o 在未来的自由日，我们计算了一个平衡预算税收自由日，

day of the year when average Canadians would start working for themselves if dia do ano em que os canadenses médios começariam a trabalhar por conta própria se 一年中普通加拿大人开始为自己工作的日子

governments were obliged to cover current spending with current tax os governos foram obrigados a cobrir os gastos correntes com impostos correntes 政府有义务用现行税收来支付现行支出

revenues. In 2020 the Balanced Budget Tax Freedom Day won't arrive until July 26th! ingresos ¡En 2020 el Día de la Libertad Fiscal del Presupuesto Equilibrado no llegará hasta el 26 de julio! receitas. Em 2020, o Dia da Liberdade Fiscal do Orçamento Equilibrado não chegará até 26 de julho! 收入。 2020 年平衡预算税收自由日要到 7 月 26 日才会到来！

That's another reason there's little to celebrate this Tax Freedom Day. 这是几乎没有人庆祝这个免税日的另一个原因。

For more information, visit FraserInstitute.org 如需更多信息，请访问 FraserInstitute.org