Federal tax revenue up $10 billion last year

The federal government took in $209 billion in taxes in 2012-2013, up from $199 billion in 2011-2012.

In 2012-2013, the most revenue came from personal income tax, at $125.7 billion. Corporate income taxes brought in $35 billion, and non-resident income taxes brought in $5 billion more. The figures are reported in the Public Accounts of Canada, which were tabled in Parliament last week.

The government collected $28.8 billion in GST, while the gas tax was worth $4.2 billion.

Import and other trade taxes brought in $5.4 billion.

Old Age Security, Guaranteed Income Supplement and spousal allowance payments cost the government $40.2 billion in 2012-2013, up from $38 billion in 2011-2012.

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Employment insurance benefits costs were down, from $17.6 billion in 2011-2012 to $17 billion in 2012-2013.

Transfers to the provinces for health, social and other programs cost were up from $56.7 billion to $58.3 billion.

The government has also released its most-recent tax figures, for August 2013, in its monthly fiscal monitor.

Income tax, employment insurance premiums and other revenues increased in August, but the government collected lower levels of GST and other trade taxes. Overall, revenues were still up $100 million, or 0.6%, compared to August 2012.

The government is also implementing budget cuts across scores of departments with the goal of balancing the budget by 2015. Program expenses were down $800 million, or 3.8% in August, compared to last year.

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While the government continued to make regular transfers of funding to the provinces and to social assistance programs these expenses were covered by program cuts in August, the government says.

But compared to last year, higher levels of transfers have increased program expenses overall between April and August 201. They’re up $1.8 billion, or 1.9%.

The federal budget deficit in August was $2.3 billion, down from a deficit of $3 billion the same time last year. From April to August 2013, the total deficit is $6.8 billion, compared to $7.2 billion for the same time last year. For that same time period, revenues are up by $2.3 billion, or 2.3%

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