Trudeau hiking taxes again in 2025
By Franco Terrazzano
New year, same plan from Prime Minister Justin Trudeau: take more money from Canadians.
In 2025, Trudeau will again take more money out of the pockets of Canadians through higher payroll taxes, while also making life more expensive with carbon and alcohol tax hikes.
Trudeau is raising the mandatory Canada Pension Plan and Employment Insurance contributions in 2025. These payroll tax hikes will cost a worker up to an additional $403 in 2025.
Federal payroll taxes will cost a worker making $81,200 or more a total of $5,507 in 2025. Their employer will also be forced to pay $5,938.
On April 1, Trudeau will again crank up his carbon tax to 21 cents per litre of gasoline, 25 cents per litre of diesel, and 18 cents per cubic metre of natural gas.
The Trudeau government claims “families are going to be better off” with its carbon tax and rebates. But the government’s own non-partisan, independent budget watchdog shows the government is using magic math.
The carbon tax will cost the average family up to $477 more than the rebates they get back in 2025, according to the Parliamentary Budget Officer.
The government also charges its sales tax on top of the carbon tax. This carbon tax-on-tax will cost Canadians $500 million in 2025. And the government doesn’t even pretend to rebate that money back.
You could be forgiven if Trudeau’s tax hikes drive you to drink. But Trudeau will be reaching deeper into your pockets next year when you pick up that case of Canadian, bottle of pinot or mickey of rum.