More Middle Class Canadian Families Paying Higher Taxes

by in Canadian Government News and Updates
More Middle Class Canadian Families Paying Higher Taxes
Fraser Institute released a new study that finds majority of middle-class Canadian families are paying higher income taxes because of tax changes made by federal government.

According to the study, middle class families will pay $840 more in federal income taxes this year. 

The findings certainly paint a different picture as to what the federal government has been saying all along – that they have lowered income taxes for middle class families.  In reality, the major income tax changes they have implemented have actually raised the income taxes on more than 80% of middle-income families in Canada. 

The federal government’s income tax changes, according to the study, will result in higher income taxes for 81% of middle-class Canadian families with children (includes bot single parents and two-parent households) whose household incomes are between $77,089 and $107,624.

Among the major taxes changes made were the scrapping of income splitting for couples with young children and the elimination of some tax credits like the children’s fitness tax credit, the education tax credit, the textbook tax credit and the public transit tax credit. 

Source: https://www.fraserinstitute.org/studies/measuring-the-impact-of-federal-personal-income-tax-changes-on-middle-income-canadian-families
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