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.

Preet Banerjee
Preet Banerjee
...is an independent consultant to the financial services industry and a personal finance commentator. You can learn more about Preet at his personal website and you can click here to follow him on Twitter.
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Showing 4 comments
  • Cash Instinct

    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!!!

  • ghost

    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.

  • taxguyinthelbokc

    this is good stuff. thanks bud.

  • DUSTIN

    We should be outraged by this. Im sick of seeing my country have a bunch of mindless sheep TO busy with being entertained rather than informed. People have lost sight of what really matters. Freedom and the ocnstitution.