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Today is "Tax Freedom Day". It doesn't mean that you don't need to pay tax today. It means that you have worked hard enough to be able to pay all your tax bills this year on June 10. From now on you are truly working for yourself and your family, not for the government. Isn't it ridiculous? Average Canadian family contributes almost 43.7% of their income to various taxes, including income tax, property tax, HST, etc. Is it fair for hard-working Canadians to work almost half of the year for the government? There are two things that are inevitable for everyone, death and tax. However, there are legal ways to reduce your tax burden. Every hard working Canadians should include tax saving strategy in their financial planning.
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