The federal government has raised some taxes and this is how it will impact Ontarians, according to the Canadian Taxpayers Federation (CTF).
“Canadians are being nickeled and dimed to death at a time when many people are struggling,” Jay Goldberg, the Ontario Director of the CTF, told CTV News Toronto.
On Tuesday, the non-profit organization released its annual report and outlined six tax hikes Ontarians face at the federal level.
Through the Canada Pension Plan tax, anyone earning an annual income of $68,500, or more, will pay an additional $133 – as well as their employers. Meanwhile, the Employment Insurance tax will see workers earning $63,200 paying an extra $47, with their employers paying an additional $65.
Payroll taxes will increase by up to $347, though the CTF said it will depend on income.
With the federal carbon tax increasing on April 1 this year, the price per tonne will rise from $65 to $80. The Canadian government’s second carbon tax is also expected to boost gas prices through fuel regulations by up to 17 cents per litre.
According to the Parliamentary Budget Officer, this will cost the average household between $384 and $1,157 by 2030.
The cost of heating is also expected to go up. The federal government paused the carbon tax on home heating oil for three years, but Goldberg said most Ontarians use natural gas for heat.
”The average Ontario household is paying about $300 dollars in carbon taxes on their home heating bill,” said Goldberg. “The increase on April 1st means next year you’ll be paying closer to $400.”
The federal liquor escalator tax is also set to increase on April 1 this year, rising by 4.7 per cent. The CTF said taxes already account for nearly half of the price of beer, 65 per cent of the price of wine and more than three-quarters of the price of spirits.
“You can’t find an alcoholic beverage in this province where less than half the cost is for taxes,” said Goldberg.
The CTF said while payroll taxes have already kicked in, the group urges Canadians to tell their elected officials to say no to new carbon and liquor taxes before April 1st.
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