Canadians spend 44% of income on taxes

CKTB News- Taxes

Do you ever wonder where all your money goes?

According to a new study by the Fraser Institute, it goes to taxes.

The study has found the average Canadian family spent more than 44 percent of its income on taxes last year.

That's more than we spend on housing, food and clothing combined.

The Institute says it's a dramatic shift since 1961 when the average family handed over about 33 percent of its income to the taxman.

The total bill includes taxes paid to all three levels of government including property taxes as well as alcohol and fuel.