Overview of federal government budgetary revenues and expenses as set out in Budget 2023.
Estimated revenues for 2023–2024 total $457 billion. They comprise the following:
- Income taxes, at $313 billion, which include
- Personal income tax, at $214 billion,
- Corporate income tax, at $86 billion,
- Non-resident income tax, at $13 billion;
- Excise taxes/duties, at $70 billion, which include
- Goods and Services Tax, at $51 billion,
- Custom imports duties, at $7 billion,
- Other taxes/duties, at $12 billion;
- EI premium revenues, at $28 billion;
- Pollution pricing, at $10 billion;
- Enterprise Crown corporations, at $6 billion;
- Other programs, at $27 billion; and
- Net foreign exchange, at $3 billion.
Estimated expenses total $497 billion and comprise the following:
- Transfers to other governments, at $106 billion, which include
- Health transfers, at $53 billion,
- Social transfers, at $16 billion,
- Equalization, at $24 billion,
- Territorial Formula Financing, at $5 billion,
- Child care, at $6 billion,
- Community building, at $2 billion;
- Actuarial losses, at $6 billion;
- Public debt charges, at $44 billion;
- Transfers to persons, at $126 billion, which include
- EI benefits, at $24 billion,
- Elderly benefits, at $76 billion,
- Canada Child Benefit, at $26 billion; and
- Direct program expenses, at $221 billion, which include
- Operating expenses, at $124 billion,
- Other transfer payments, at $86 billion,
- Fuel charge proceeds return, at $11 billion.