Revenues

Public Accounts of Canada 2025 Volume I—Top of the page Navigation

Revenues consist of all tax and other amounts which enter into the calculation of the annual surplus or deficit of the government.

Tax revenues

**Table 3.2**
**Tax revenues**
(in millions of dollars)
Tax revenues
	2025	2024
Income tax revenues
Personal	234,319	217,696
Corporate	96,954	82,468
Non-resident	13,528	12,541
Total income tax revenues	344,801	312,705
Other taxes and duties
Goods and services tax, Table 3.3	52,503	51,416
Energy taxes
Excise tax—Gasoline	4,361	4,333
Excise tax—Aviation gasoline and diesel fuel	1,289	1,266
Total energy taxes	5,650	5,599
Customs import duties	6,264	5,571
Other excise taxes and duties
Excise duties	5,656	5,333
Air travellers security charge	1,159	827
Other miscellaneous excise taxes and duties	672	669
Total other excise taxes and duties	7,487	6,829
Total other taxes and duties	71,904	69,415
Total tax revenues^{Links to footnote 1 in Table 3.2}	416,705	382,120
Table 3.2 notes Table note 1 Additional details are provided in Table 4a in Section 1 of Volume II of the Public Accounts of Canada. Return to table note 1 referrer in Table 3.2

Personal income tax

Personal income tax is levied on personal income under the provisions of the Income Tax Act.

Corporate income tax

Corporate income tax is levied on corporate income under the provisions of the Income Tax Act.

Non-resident income tax

Non-resident income tax is levied on income earned in Canada by non-residents under the provisions of the Income Tax Act. This tax is derived from tax withheld from dividends, interest, rents, royalties, alimony, and income from estates and trusts paid to non-residents.

Non-resident income tax revenues also include withholding taxes on income earned in Canada by non-resident life insurance companies and income from trusts.

Other taxes and duties

Other taxes and duties are collected under the Excise Act, the Excise Act, 2001, the Excise Tax Act, Customs Tariff (Act) and other acts. They include the goods and services tax, energy taxes, customs import duties, as well as other excise taxes and duties.

Goods and services tax

The goods and services tax (GST) became effective January 1, 1991. It is applied at a rate of 5% on most goods and services consumed in Canada, with only a limited set of exclusions that consists of certain medical devices, prescription drugs, basic groceries, residential rents as well as most health and dental care services. The rate for qualifying items from December 14, 2024 to February 15, 2025 was set to zero.

**Table 3.3**
**Goods and services tax**
(in millions of dollars)
	2025	2024
GST	62,334	60,743
Less: remission order for the GST paid and accrued by ministries on or for goods and services purchased from outside parties	3,565	3,352
Gross GST from outside parties	58,769	57,391
Less: quarterly tax credits	6,266	5,975
Net GST from outside parties	52,503	51,416

Energy taxes

Energy taxes primarily include the excise tax on gasoline, aviation gas and diesel fuel.

Customs import duties

Revenues from customs import duties consist mainly of ad valorem taxes on the importation of goods levied under the Customs Tariff (Act).

Other excise taxes and duties

Excise taxes and duties are levied on alcoholic beverages, tobacco, vaping and cannabis products. In addition, excise taxes are imposed on other items such as passenger vehicle air conditioners, a luxury tax applies on select luxury goods, and underused housing tax on vacant or underused housing. The Air Travellers Security Charge is collected by air carriers at the time of payment for the air travel by the purchaser of an air transportation service.

Employment insurance premiums

Premiums from employees and employers are levied under the provisions of the Employment Insurance Act and are classified as part of revenues. Additional details on employment insurance premiums are provided in Section 4 of this volume.

Other revenues

**Table 3.4**
**Other revenues**
(in millions of dollars)
Other revenues
	2025	2024
Enterprise Crown corporations and other government business enterprises
Share of annual profit (loss)	3,239	(negative 660)
Interest and other	4,809	3,877
Total enterprise Crown corporations and other government business enterprises	8,048	3,217
Net foreign exchange revenues and return on investments
Net foreign exchange revenues
Exchange Fund Account	4,150	2,951
International Monetary Fund	471	453
Other	82	1
Total foreign exchange revenues	4,703	3,405
Return on investments, Table 3.5	2,065	885
Total net foreign exchange revenues and return on investments	6,768	4,290
Other program revenues
Sales of goods and services	15,799	13,986
Miscellaneous	18,549	15,873
Total other program revenues	34,348	29,859
Total other revenues^{Links to footnote 1 in Table 3.4}	49,164	37,366
Table 3.4 notes Table note 1 Additional details are provided in Table 4a in Section 1 of Volume II of the Public Accounts of Canada. Return to table note 1 referrer in Table 3.4

Enterprise Crown corporations and other government business enterprises

Revenues include interest earned on loans to enterprise Crown corporations and other government business enterprises as well as the government’s share of the accumulated profits or losses of enterprise Crown corporations and other government business enterprises.

Other programs

Other program revenues include sales of goods and services and miscellaneous revenues. Details are reported by individual ministries in Volume II of the Public Accounts of Canada.

Net foreign exchange revenues and return on investments

Net foreign exchange revenues include the revenues from investments held in the Exchange Fund Account and the International Monetary Fund, as well as the net gains or losses resulting from the translation of these investments to Canadian dollars as at March 31. Net foreign exchange revenues also include the net gains or losses resulting from foreign debt and currency swap revaluations.

Return on investments includes interest on bank deposits, income on loans, investments and advances, and other returns. Additional details of return on investments are included in Table 3.5.

Return on investments

**Table 3.5**
**Return on investments**^{Links to footnote 1 in Table 3.5}
(in millions of dollars)
Cash and accounts receivable
	2025	2024
Interest on bank deposits	821	491
Other loans, investments and advances	780	395
Other accounts	5	3
Total ministerial return on investments	1,606	889
Net loss on exchange	473	3
Total return on investments	2,079	892
Elimination of return on investments internal to the government	(negative 14)	(negative 7)
Total external return on investments	2,065	885
Table 3.5 notes Table note 1 Additional details are provided in Table 4a in Section 1 of Volume II and in Section 10 of Volume III of the Public Accounts of Canada. Return to table note 1 referrer in Table 3.5

Public Accounts of Canada 2025 Volume I—Bottom of the page Navigation

Date modified:: 2025-11-07

Language selection

Search