« Want to Start Your Own Blog? | Main | Hilarious Interview About How The Markets REALLY Work »

Where Does All Your Tax Money Go?



Do you hear that sound? Another deadline passing us by. When you owe money, you can actually here it whistle as it approaches... :) I found a presentation from the CRA that explains where all the revenues and expenses of the lockedmoney.JPGGovernment comes from and goes to. Some highlights for the fiscal year ending March 31st, 2007:

(Note these won't add up since I'm only presenting some highlights, see link below for more info) 

Revenues ($236 Billion Total)

$110.5 Billion - Income Tax
$37.7 Billion - Corporate Tax
$31.1 Billion - GST

Expenses

$33.9 Billion - Interest on National Debt
$30.3 Billion - Elderly Benefits (OAS, GIS, etc.)
$63.3 Billion - Operating Expenses of Government
       $6.8 Billion - Canada Revenue Agency
       $1.7 Billion - CBC (!)

Surplus - $13.8 Billion

You can view the CRA's presentation yourself by clicking here.

 

Subscribe to the free Email Updates to learn more about personal finance.
If you use a feed reader, you can click here to add my RSS feed.

If you like this blog, you might like my book:
  RRSPs: The Definitive Book on Registered Retirement Savings Plans

Posted on Wednesday, April 30, 2008 at 08:01PM by Registered CommenterPreet in , | Comments1 Comment

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments (1)

Sometimes, I think I would prefer not to know where governement money is spent.

Seeing how much debt, CRA and CBC cost does not encourage generating high income to pay more taxes!

I did not go see the presentation, not wanting to know more!!!

May 1, 2008 | Unregistered CommenterCash Instinct

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>