Revenues

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

Tax revenues

Table 3.2
Tax revenues
(in millions of dollars)
  2020 2019
Tax revenues
Income tax revenues
Personal 167,576 163,881
Corporate 50,060 50,368
Non-resident 9,476 9,370
Total income tax revenues 227,112 223,619
Other taxes and duties
Goods and services tax, Table 3.3 37,386 38,221
Energy taxes
Excise tax—Gasoline 4,453 4,483
Excise tax—Aviation gasoline and diesel fuel 1,230 1,319
Total energy taxes 5,683 5,802
Customs import duties 4,853 6,881
Other excise taxes and duties
Excise duties 4,950 5,228
Air travellers security charge 798 872
Other miscellaneous excise taxes and duties 210 223
Total other excise taxes and duties 5,958 6,323
Total other taxes and duties 53,880 57,227
Total tax revenuesLink to footnote 1 280,992 280,846

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)
  2020 2019
GST 45,038 45,392
Less: remission order for the GST paid and accrued by ministries on or for goods and services purchased from outside parties 2,628 2,494
Gross GST from outside parties 42,410 42,898
Less: quarterly tax credits 5,024 4,677
Net GST from outside parties 37,386 38,221

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)
  2020 2019
Other revenues
Enterprise Crown corporations and other government business enterprises
Share of annual profit 3,588 5,920
Interest and other 1,471 1,181
Total enterprise Crown corporations and other government business enterprises 5,059 7,101
Other programs
Return on investments, Table 3.5 1,808 1,806
Sales of goods and services
Rights and privileges 2,078 2,322
Lease and use of public property 772 778
Services of a regulatory nature 1,995 1,780
Services of a non-regulatory nature 4,619 4,014
Sales of goods and information products 1,173 1,218
Other fees and charges 805 806
Total sales of goods and services 11,442 10,918
Miscellaneous
Interest and penalties 5,823 6,171
Other 1,723 1,414
Total miscellaneous 7,546 7,585
Total other programs 20,796 20,309
Net foreign exchange revenues
Exchange Fund Account 2,283 1,480
International Monetary Fund 93 164
Other 34 23
Total net foreign exchange revenues 2,410 1,667
Total other revenuesLink to footnote 2 28,265 29,077

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 ministries in Volume II of the Public Accounts of Canada.

Net foreign exchange revenues

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 footnote 3
(in millions of dollars)
  2020 2019
Cash and accounts receivable
Interest on bank deposits 772 738
Loans, investments and advances
National governments including developing countries 35 24
International organizations 4 3
Other loans, investments and advances 878 964
Total loans, investments and advances 917 991
Other accounts 5 1
Total ministerial return on investments 1,694 1,730
Net gain on exchange 86 25
Accrual of other revenues 30 52
Total return on investments 1,810 1,807
Elimination of return on investments internal to the government (negative 2) (negative 1)
Total external return on investments 1,808 1,806

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