Coffeehouse Post

Single Post Permalink

View Thread: Political Bing
  • User profile image

    Resources in Canada belong to the provinces and not to the federal government. The federal government does not get its revenue from resources. It gets its revenue from:

    Federal Government Finances

    Each year, the federal government collects and spends hundreds of billions of dollars. In the fiscal year 2007/2008, federal revenue totaled over $250 billion (Statistics Canada, June 25). By far, the largest portion stems from income taxes, which accounted for approximately 67 percent of federal revenues. Other important sources of income include consumption taxes (such as the Goods and Services Tax), contributions to social security plans and investment income. The following table provides an overview of key sources of federal government revenue.