Middle-income families face higher personal income taxes due to changes implemented by the Liberal government, finds a new report by the Fraser Institute.
While the government of Prime Minister Justin Trudeau reduced the marginal tax rates for income between $46,000 and $92,000, it also implemented other reforms that have resulted in most Canadians with children and middling incomes paying more, on net, in income taxes than they did before, according to the study.
I remember a lady at my workplace was so, er, excited about this. She told me that her "income tax cut" amounted to $600. She had also calculated "other payments" she would have to make thanks to Trudeau's plan. That came out to an extra $1,000 to the government.
Her total middle class tax cut was -$400. Yippie!
Lower-middle-class families, those with household incomes between, roughly, $52,000 and $77,000 are paying $382 more on average, with nearly 70 per cent paying more.
Look on the bright side, Canadians. Next year, you'll be able to smoke your concerns away. Weed is going to be legal baby!