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 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.

Related posts:

  1. $700,000,000,000
  2. US Debt Clock
  3. Gold Plated Member of Parliament Pension Plans

About Preet
Preet Banerjee, B.Sc., FMA, DMS, FCSI is the W Network's Money Expert. He is a former stockbroker and financial planner. Prior to that, he was a racecar driver, and before that he trained to be a neuroscientist. Basically, he can't hold down a job for very long.

Comments

  1. Cash Instinct says:

    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. ghost says:

    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. this is good stuff. thanks bud.

Speak Your Mind

*