Published: July 17, 2023
1. Canada collects more than twice as much personal tax than it does in corporate tax.
Income tax accounts for almost 70 per cent of federal total revenue and personal income tax revenue is its largest source. In 2021-22, the federal government collected $198.4 billion in personal income tax, $78.8 billion in corporate income tax, and $10.8 billion in non-resident income tax.
Disclaimer:
"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
