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 Government 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.
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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!!!