Where Does All Your Tax Money Go?

May 1st, 2008 • Related • Filed Under
                                                         

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 government 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 government’s presentation yourself by clicking here.

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There Are 3 Responses So Far. »

  1. Comment by Cash Instinct on 1 May 2008:

    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!!!

  2. Comment by ghost on 18 May 2008:

    You realize that CRA has nothing to do with where tax money is spent (save their own budget). That is up to elected officials and the dept of finance, Which the presentation you linked makes obvious since it is from the dept of finance.

  3. Comment by taxguyinthelbokc on 25 August 2008:

    this is good stuff. thanks bud.

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