Consolidated statement of revenues and expenses

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Table 1 presents revenues and expenses for the year ended March 31, 2024. In addition, detailed information is provided in Section 3 of Volume I of the Public Accounts of Canada.

Table 1
Consolidated statement of revenues and expenses
(in thousands of dollars)
  2024
Revenues
Tax revenues
Income tax revenues
Personal 217,695,635
Corporate 82,467,574
Non-resident 12,540,775
Total income tax revenues 312,703,984
Other taxes and duties
Goods and services tax 51,416,441
Energy taxes
Excise tax—Gasoline 4,333,239
Excise tax—Aviation gasoline and diesel fuel 1,265,795
Subtotal 5,599,034
Customs import duties 5,571,190
Other excise taxes and duties
Excise duties 5,333,741
Air travellers security charge 827,028
Miscellaneous excise taxes and duties 669,019
Subtotal 6,829,788
Total other taxes and duties 69,416,453
Total tax revenues 382,120,437
Employment insurance premiums 29,559,859
Pollution pricing proceeds 10,502,956
Other revenues
Enterprise Crown corporations and other government business enterprises
Share of annual profit (loss) (negative 659,802)
Interest and other 3,876,389
Total 3,216,587
Net foreign exchange revenues and return on investments
Exchange Fund Account 2,951,157
International Monetary Fund 452,569
Other 1,015
Total 3,404,741
Return on investments 884,840
Total 4,289,581
Other
Sales of goods and services 13,986,391
Miscellaneous revenues 15,872,673
Total 29,859,064
Total other revenues 37,365,232
Total revenues 459,548,484
Expenses
Program expenses
Transfer payments
Old age security benefits, guaranteed income supplement and spouse's allowance 76,035,676
Major transfer payments to other levels of government
Canada health transfer 49,431,244
Canada social transfer 16,416,302
Fiscal arrangements 28,841,515
Quebec abatement (negative 7,103,367)
Other major transfers 12,586,975
Subtotal 100,172,669
Employment insurance and support measures 23,130,287
Children's benefits 26,339,238
COVID-19 income support for workers (negative 4,837,776)
Canada emergency wage subsidy (negative 420,425)
Pollution pricing proceeds returned 9,858,444
Other transfer payments 96,370,820
Total transfer payments 326,648,933
Other expenses, excluding net actuarial losses Links to footnote 1 in table 1 140,013,621
Total program expenses, excluding net actuarial losses 466,662,554
Public debt charges 47,272,766
Total expenses, excluding net actuarial losses 513,935,320
Annual deficit before net actuarial losses (negative 54,386,836)
Net actuarial losses (negative 7,489,008)
Annual operating deficit (negative 61,875,844)

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