Canadian Taxpayers Federation. Image credit: X/@taxpayerDOTcom
Toronto/CMEDIA: Canadian Taxpayers Federation (CTF) has reportedly outlined in its annual report six tax hikes Ontarians face at the federal level.
Through the Canada Pension Plan tax, both employees and employers with an annual income of $68,500, or more, will pay an additional $133.
The Employment Insurance tax will require 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 hike in federal carbon tax on April 1 this year, the increase in price per tonne will be from $65 to $80.
Through fuel regulations, the Canadian government’s second carbon tax would also boost gas prices by up to 17 cents per litre which will reportedly cost the average household between $384 and $1,157 by 2030.
Although the federal government had paused the carbon tax on home heating oil for three years, but it was reportedly pointed out by Goldberg that most Ontarians use natural gas for heat, the cost of heating is also expected to hike for average Ontario household on their home heating bill from $300 dollars in carbon taxes on April 1 to closer to $400.
There will also be an increase in federal liquor escalator tax on April 1 this year by 4.7 percent accounting for nearly half of the price of beer, 65 percent of the price of wine and more than three-quarters of the price of spirits.
