Where Canadian Tax Dollars Go 2012
March 15, 2012 by staff
Where Canadian Tax Dollars Go 2012, Obviously each province in Canada has it’s own things to deal with. Some have roads and highways that need fixing, others have celebrations to put on, some need more dollars into police force and various things like that. Each and every province should break down and publicly publish their expenditure after each year so a little digging into your province government website will help find such details.
On a national scale the results for where each penny of the dollar went is published and to start let’s take a look at that break down.
58 cents – Transfer payments take up a large portion. These include “Payments that go directly to persons, to provincial and territorial governments, and to other organizations”.
Within this category transfers to persons takes 25 cents which adds up to $68.1 billion and here is a look at that breakdown:
Elderly benefits cost about $35.6 billion – roughly 13 cents
Employment Insurance (EI) benefits – over 7 cents of every tax dollar spent, $19.9 billion
Children’s Benefits. Canada – $12.7 billion – almost 5 cents of every tax dollar spent.
Around 20 cents goes to provincial and territorial governments, this made up about $53 billion last year.
The Canada Health – $26.0 billion, almost 10 cents
The Canada Social- $11.2 billion for post-secondary education, social programs and programs for children – about 4 cents
Equalization and Territorial Formula Financing programs and the gas tax transfers to cities and communities – roughly 6 cents, $15.8 billion
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