![]() The combination of rising prices for goods and a growing tax bill is making life costlier for average Canadian families. That’s where these calculations help-they estimate the cost of government for the average family.Īs price increases become a bigger issue for Canadians, being able to make these calculations about annual expenses becomes even more important. While it’s ultimately up to individual Canadians and their families to decide if they’re getting the best bang for their buck, you must know how much you pay in total taxes to make an informed assessment. Of course, taxes fund important government services, but we shouldn’t simply assume that higher taxes always provide better government services. So, with 43.0 per cent of income now going to taxes, Canadian families are right to wonder whether they get good value for their tax dollars. Today’s deficit spending means higher taxes tomorrow, so the tax bill for Canadian families will likely increase in the future rather than decrease. In nominal terms, since 1961 the tax bill has increased by 2,440 per cent, dwarfing increases in annual housing costs (1,751 per cent), food (802 per cent) and clothing (790 per cent).Īnother factor to consider is the recent budget deficits run by Canadian governments. On an inflation-adjusted basis, the total tax bill for families has increased by 181.6 per cent over 60 years. In 1961, the average Canadian family spent 56.5 per cent of its total income on shelter, food and clothing compared to 33.5 per cent on taxes. Even if we add expenses for food and clothing on top of housing costs, the average family spent significantly less on those three basic necessities last year (35.7 per cent of its income) than it paid in taxes.īut the tax bill for families has not always exceeded the amount spent on basic necessities. So the average family spends more than double the amount on taxes than it does on housing. Together, these taxes comprise our total tax bill.Īs noted in a new study published by the Fraser Institute, last year the average Canadian family (including single Canadians) earned $99,030 and paid $42,547 in total taxes-that’s 43.0 per cent of our income going to taxes.įor context, housing costs (including rent and mortgage payments) for the average Canadian family totalled $20,923 or 21.1 per cent of its income. To understand the extent of our tax burden, beyond the income and payroll deductions on our paycheques, we must consider all taxes-both visible and hidden-we pay throughout the year to federal, provincial and municipal governments including property taxes, sales taxes, alcohol taxes, import taxes and many more. In fact, taxes represented the single biggest expense for Canadian families in 2021. But no bill has increased for the average Canadian family more than the tax bill. Keep checking our promos page or subscribe to our newsletter to get first dibs on the latest Maya updates.Due to high inflation, prices for food, housing and other necessities have risen, squeezing household budgets across Canada. That’s why we’re excited to have key billers on board so you can pay your bills hassle-free, and face “adulting” much easier! Stay tuned for more awesome announcements from Maya!įor more details about the Pay Bills feature, please visit our FAQs page at Yearly fees for card is Rs 499 which is waived off if your spends exceed Rs 2,00,000 a year. For all other spends directly it gives 2 cashback. We all work hard, so payments should come secure, convenient, and easy. Axis Bank Ace Credit card offers 5 cashback on all electricity, gas, phone bills, mobile recharges when paid via gpay. You’ll be notified in-app and via SMS that your payment was successful! Add 0 before the area code to make it 10 digits.įor Meralco, enter your Meralco Reference Number(MRN) as your account number. *Reminder: Remember to pay your bills before your due date.Ħ. For PLDT, please input a 10-digit phone number using your area code and landline. What bills can I pay using this service?ģ. Enter the Account Number on your bill. Only Maya allows you to pay your bills without the need for a bank account or enrolling your billers. Our partnership with Bayad Center enables all Maya users to pay their utility bills and other private entities and government requirement fees in just a tap with the Maya app! Now, you don’t have to leave the comfort of your home, risk the cash you are carrying, and wait in long lines just to pay your bills. Now we’d like to take this a step further by partnering with Bayad Center to make “adulting” even easier. Since we started, Maya has been helping young individuals enjoy the independence of seizing their passions without relying on a credit card.
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