According to a new report by the Fraser Institute, more than 92.2% of Canadian families will pay higher taxes once the Canada Pension Plan tax increases are fully implemented by 2025.
The first of seven increases to CPP tax, which all working individuals must pay, begins in 2019.
The study’s co-author, Charles Lammam, broke down the tax fairly well:
“Canadian families will endure a significant tax increase and that tax bill will increase over time. The Trudeau government has talked a lot about cutting taxes for families. Based on the personal income tax changes they’ve already put in the case, we’ve found that’s not true for the vast majority of middle-class families.”
She furthermore broke down the projected cost to most families:
Read More HERE
