Categories: BusinessCanadian NewsPolitics

92% of families face tax hike of over $2,200 beginning in 2019

According to a new report by the Fraser Institute, more than 92.2% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025.

The first of seven increases to CPP tax, which all working individuals must pay, begins in 2019.

The study’s co-author, Charles Lammam, broke down the tax fairly well:

“Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they’ve already put in the case, we’ve found that’s not true for the vast majority of middle-class families.”

She furthermore broke down the projected cost to most families:

“We found that plus what has already been implemented will result in over 92% of all families with children in Canada paying higher taxes and they’ll be paying on average $2,200 more per year.”

Most interestingly, the report pointed out that the so-called savings the Trudeau government had originally touted regarding middle-class personal income tax cuts had been more than cancelled out by the increases in the CPP.

“The Trudeau government has repeatedly claimed to cut taxes on the vast majority of families and our findings show that’s not the case… The focus has been on the federal rate cut from 22% to 20.5% — however, the reality is they’ve introduced several other tax changes both to the personal income tax system they’ve spearheaded with the provinces, CPP, which will result in higher payroll taxes.”

This $2,200 is also not the only fee or heavy cost that Canadians are dealing with.

Compounded with the effects of the carbon tax, increases on interest rates caused by government overspending, and high housing costs nationwide, it’s no wonder Canadians are tired of our tax and spend government.

What do you think about this report? Let us know below!

Ali Taghva

Business owner, former EDA President, and a degree in Industrial Relations from Mcgill. Interested in the intersection of politics and culture. I firmly believe in a free media and work to get new stories to your screen each day.

Comments

  • He is adictor and will eliminate the middle class Once hes done it he will take everything house your money and what everone owns and kick us out into the streets and the he will build the pipes lines and sell it for his profit like Venezella and Saudi Arabia. That is he goal Now make sure everyone votes for him you idiots that did

    • speaking of saudi arabia, i wonder if the new prince, son of the king that s emprisoning all his cousins and uncles is not a fidelite. maybe fidel dipped to oil money too.

  • This lying sack of crap has to build mountains of money in an attempt to pay off the insane amount of money he's pissing away on ghost projects and foreign handouts. Where is all that money really going to? He's making alot of people very rich on the backs of Canadian taxpayers. ONE TERM ONLY!! Then it'll take decades for a Conservative government to clean up his disaster.

    • Yeah and they'll never be able to correct the spending because Canadians are retards and they'll vote them out in a term or two. Wouldn't be surprised to see the NDP win at some point then we are in real trouble...

    • CPP is a deduction that they invest then use the interest for political agendas when it should be reinvested into the CPP don't kid yourself they do this with every dollar they tax us for.

      • wrong Jason.. but the fear mongers among us want everyone to think that.. CPP is a payroll deduction.. but the government does not get to spend it any way they like.. the Government does not contribute to CPP in any way.. the only thing they get is the FEE that is given to them to manage the distribution of the fund.. very much like the EI fund.. However this does not stop governments from borrowing interest free from those funds.. much like the Chreitian and Martin Liberal Governments did to the EI fund when they borrowed (never to be paid back) 35 Billion to balance the budgets back in the early 2000's.

        • CPP is not open for the government to use. They have no say in where or how investments are made. EI on the other hand can be accessed by government because they are a contributer. You are right about Chretien and Martin using EI to balance the books. We are still waiting to be paid back.

          • Not quite. The government appoints the Board which makes the decisions. And it is not too far fetched to think that the board knows the line the government wants to project.

  • This is just another reason why the most flourishing industry in the country is the underground economy. Who hasn't needed garbage hauled to the dump or a small drywall, vehicle repair, plumbing or electrical job done and been told 'cash only'! I am not alone in being single and relatively healthy. I pay my fair share for schools and hospitals and pubic transport that I never use, and each time my pocket gets picked by the Province or the Feds I think maybe I am the dumb one.

    • you forgot the local strong arm city taxers after the feds , then the provincial comes the local for a final beat down - funny how they all pretend there are different people out there tax payers, users, consumers motorists voters transit users renters home owners business owners workers unionists associations drinkers smokers etc Im sure there are more - they all try and pretend they are all different people - it helps with the divide and conquer principle the governments like to use

  • This is all towards the Trudeau objective of NWO and getting a seat on the UN council - Think of the loot that is squandered to the UN alone.

  • Hate him! He’s a selfish man who’s never had to struggle, how could he possibly understand how this effects the middle class. Rich get richer and poor get poorer

  • There is so much to be said with this New World order George Soros poppet Justin Trudeau. He has no idea and doesn't care. He selling us out totally to the New World order. That starts out with open borders totally chaos and spending as much of our country's money as he can until we will be week enough so as the New World order leaders can come in and create martial law and take total control of us and start total control and the depopularization of the world. There will be no middle-class. It will be the elites with totally controlled. Not for me

  • Equating cpp with income tax is misleading. CPP is basically a forced savings plan for retirement. Increases in CPP mean people will get more in CPP and actually be able to live on it when they retire.

    So yes you will be paying more for CPP but you'll also be getting more when you retire or if you become disabled. Very few people have corporate pensions anymore and is hard to save enough for a comfortable retirement.

    With more and more people being self employed changes to cpp really needed to happen.

    Lastly, the fraser institute doesn't Jane the best rep.

    • Mara I don't know where you live but you can't even pay your rent or taxes and hydro on CPP in Ontario. For all your years of paying in, you don't get so much back monthly and it's taxed. FYI the old age security is also. taxed. Nothing is free in Canada, .

  • We thought his father Pierre Elliot Trudeau destroyed us well his sanctimonious som Justin is definitely worse. This CPP issue will not affect me because I am 65 but I can’t afford to retire due to all the other tax increases & the pittance I receive from CPP and OAS. I pay additional taxes off my pay cheque bi-weekly & still have to give the friggin government more every year when I file my taxes. I want to retire. Quit increasing the friggin taxes!!!

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