Impact of Regulation on Canadian Individuals – CFIB

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From filing taxes to applying for government permits, how much does red tape cost you? OurĀ  new report quantifies, for the first time, the cost of some of the most common red tape headaches for ordinary Canadians.

At least $10 billion a year, and a lot of stress. A new report entitledImpact of Regulation on Canadian Individuals,Ā for the first time, quantifies the cost of the most common red tape headaches faced by ordinary Canadians. The $10 billion figure takes into account the following:

  • Complying with personal income tax obligations (6.7 billion, excluding actual taxes paid);
  • Applying for and renewing passports ($645 million);
  • Applying for and renewing driverā€™s licenses and vehicle registrations ($1.7 billion); and
  • Time spent complying with these and other regulatory obligations (excluding personal income taxes).

Businesses and consumers alike are both affected by red tape. Government rules, permits and paperwork are involved in everything from renovating a home, to applying for a student loan, to going fishing. CFIB has previously pegged the direct cost of regulation on Canadian businesses at $31 billion/year. The new data on cost to individuals begins to provide a fuller picture of the total cost of regulation for Canadians.

The report also includes a public opinion poll in which almost half of the respondents said that excessive regulation adds significant stress to their lives.

VIEW & DOWNLOAD:Ā CFIB REPORT ON REGULATION COSTS TO CANADIANS

VISIT CFIB TO SIGN THE RED TAPE PETITION

Canadian Federation of Independent Business (CFIB).

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