outpace basic needs – consume more income
Taxes continue to outpace basic needs for Canadian families. Now, taxes consume more income than food, housing, clothing combined.
Canadians everyday living reality is that the lion’s share of their income is paid out in tax.
According to the Canadian Consumer Tax Index 2025, the average Canadian family earned $114,289 in 2024 and paid $49,844 in total taxes or 42.3% of their income, compared to 35.5% on housing, food and clothing combined.
These trends appear deeply entrenched and despite recent tax relief measures at various levels of government, the total tax burden remains near historical highs.
Full Read:
- https://www.wealthprofessional.ca/news/industry-news/taxes-continue-to-outpace-basic-needs-for-canadian-families/389778?hsmemberId=624931&tu=cab225e9-a56e-4453-ba7a-30cbd695b619&utm_campaign=&utm_medium=20250722&_hsenc=p2ANqtz–8eK4C1EoCJ6sRhXTGrNi46XP6NUn3Umx7uhUV5UWwQ3FBoXVjMDGkee8ttvHz389oibODiVkUiPprsejedS5T42_YgHYNi6zAMWqk2GGixYOND5M&_hsmi=372389474&utm_content=cab225e9-a56e-4453-ba7a-30cbd695b619&utm_source=