Revenues

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Revenues consist of all tax and other amounts which enter into the calculation of the annual surplus or deficit of the Government.

Tax revenues

Table 3.2
Tax revenues
(in millions of dollars)
  2019 2018
Tax revenues
Income tax revenues
Personal 163,881 153,619
Corporate 50,368 47,805
Non-resident 9,370 7,845
Total income tax revenues 223,619 209,269
Other taxes and duties
Goods and services tax, Table 3.3 38,221 36,751
Energy taxes
Excise tax—Gasoline 4,483 4,501
Excise tax—Aviation gasoline and diesel fuel 1,319 1,238
Total energy taxes 5,802 5,739
Customs import duties 6,881 5,416
Other excise taxes and duties
Excise duties 5,228 4,857
Air travellers security charge 872 823
Other miscellaneous excise taxes and duties 223 233
Total other excise taxes and duties 6,323 5,913
Total other taxes and duties 57,227 53,819
Total tax revenuesLink to Table note 1 280,846 263,088

Personal income tax

Personal income tax is levied on personal income under the provisions of the Income Tax Act.

Corporate income tax

Corporate income tax is levied on corporate income under the provisions of the Income Tax Act.

Non-resident income tax

Non-resident income tax is levied on income earned in Canada by non-residents under the provisions of the Income Tax Act. This tax is derived from tax withheld from dividends, interest, rents, royalties, alimony, and income from estates and trusts paid to non-residents.

Non-resident income tax revenues also include withholding taxes on income earned in Canada by non-resident life insurance companies and income from trusts.

Other taxes and duties

Other taxes and duties are collected under the Excise Act, the Excise Act, 2001, the Excise Tax Act, Customs Tariff (Act) and other acts. They include the goods and services tax, energy taxes, customs import duties, as well as other excise taxes and duties.

Goods and services tax

The goods and services tax (GST) became effective January 1, 1991. It is applied at a rate of 5% on most goods and services consumed in Canada, with only a limited set of exclusions that consists of certain medical devices, prescription drugs, basic groceries, residential rents as well as most health and dental care services.

Table 3.3
Goods and services tax
(in millions of dollars)
  2019 2018
GST 45,392 43,687
Less: remission order for the GST paid and accrued by ministries on or for goods and services purchased from outside parties 2,494 2,357
Gross GST from outside parties 42,898 41,330
Less: quarterly tax credits 4,677 4,579
Net GST from outside parties 38,221 36,751

Energy taxes

Energy taxes primarily include the excise tax on gasoline, aviation gas and diesel fuel.

Customs import duties

Revenues from customs import duties consist mainly of ad valorem taxes on the importation of goods levied under the Customs Tariff (Act).

Other excise taxes and duties

Excise taxes and duties are levied on alcoholic beverages and tobacco products. In addition, excise taxes are imposed on other items such as passenger vehicle air conditioners. The Air Travellers Security Charge is collected by air carriers at the time of payment for the air travel by the purchaser of an air transportation service.

Employment insurance premiums

Premiums from employees and employers are levied under the provisions of the Employment Insurance Act and are classified as part of revenues. Additional details on employment insurance premiums are provided in Section 4 of this volume.

Other revenues

Table 3.4
Other revenues
(in millions of dollars)
  2019 2018
RestatedLink to Table note 2
Other revenues
Enterprise Crown corporations and other government business enterprises
Share of annual profit 5,920 6,959
Interest and other 1,181 772
Total enterprise Crown corporations and other government business enterprises 7,101 7,731
Other programs
Return on investments, Table 3.5 1,806 1,316
Sales of goods and services
Rights and privileges 2,322 2,824
Lease and use of public property 778 746
Services of a regulatory nature 1,780 1,622
Services of a non-regulatory nature 4,014 4,515
Sales of goods and information productsLink to Table note 2 1,218 1,307
Other fees and charges 806 847
Total sales of goods and services 10,918 11,861
Miscellaneous
Interest and penalties 6,171 4,352
Other 1,414 255
Total miscellaneous 7,585 4,607
Total other programs 20,309 17,784
Net foreign exchange
Exchange Fund Account 1,480 1,713
International Monetary Fund 164 (negative 212)
Other 23 (negative 28)
Total net foreign exchange 1,667 1,473
Total other revenuesLink to Table note 3 29,077 26,988

Enterprise Crown corporations and other government business enterprises

Revenues include interest earned on loans to enterprise Crown corporations and other government business enterprises as well as the government's share of the accumulated profits or losses of enterprise Crown corporations and other government business enterprises.

Other programs

Other program revenues include sales of goods and services, return on investments, and miscellaneous revenues. Details are reported by individual ministry in Volume II of the Public Accounts of Canada.

Net foreign exchange

Net foreign exchange revenues include the revenues from investments held in the Exchange Fund Account and the International Monetary Fund, as well as the net gains or losses resulting from the translation of these investments to Canadian dollars as at March 31. Net foreign exchange revenues also include the net gains or losses resulting from foreign debt and currency swap revaluations.

Return on investments

Table 3.5
Return on investmentsLink to Table note 4
(in millions of dollars)
  2019 2018
Cash and accounts receivable
Interest on bank deposits 738 418
Loans, investments and advances
National governments including developing countries 24 11
International organizations 3 6
Other loans, investments and advances 964 908
Total loans, investments and advances 991 925
Other accounts 1 –Link to Table note 5
Total ministerial return on investments 1,730 1,343
Net gain (loss) on exchange 25 (negative 61)
Accrual of other revenues 52 38
Total return on investments 1,807 1,320
Elimination of return on investments internal to the Government (negative 1) (negative 4)
Total external return on investments 1,806 1,316

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