7/29/2019 BREAKING DOWN THE BUDGET

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32 NEWS The Edmonton Sunn Friday, March 22, 2013

Source: Government of Canada

FEDERAL BUDGET 2013

TOTALREVENUES

$263.9BILLION

($254.2

BILLION)($280.1BILLION)

TOTALEXPENSES

$282.6BILLION

Where the money comes from

Where themoney goes

Debt-to-GDPBudgetary balance

$4.4Bwill be saved over five years byclosing tax loopholes and improv-ing fairness and integrity of thetax system. (And yes, snitcheswill get paid.)

For a new infrastructure program,over 10 years.

Over 7 years, to help supportdisabled, ill or elderly veterans.

The Canada Job Grant willprovide money so employeescan upgrade their skills$15,000

$53B

$1.9B

WHATSIN ITFOR

YOU?

OVERALLGRADE

BREAKINGDOWN THE

BUDGET

BIZ OWNERSIncrease inlifetime capitalgain exemption.So if you sell yourbusiness or farm,you can save anadditional $10-12Kin capital gainstaxes.

FAMILIESYoull no longerneed to go cross-border shoppingfor sports equip-ment or babyclothes.

The government will beeliminating the taris onthese items to keep pricescomparable and promote

fitness.

Other revenues$25.6 ($25.5)

EI premiumrevenues

$21.9 ($20.1)

Other excisetaxes/duties

$10.9 ($11.2)

Customs

import duties$4.0 ($4.0)

GST $29.9 ($28.9)

Other incometax $5.4 ($5.2)

Corporate incometax $34.6 ($33.0)

Personal

income tax$131.5 ($126.2)

(figures in billions of dollars)(bracketed $ are 2012-13)

(figures may not add up due to rounding)

Direct program

expenses$119.2 ($122.1)

Other$0.4 ($1.2)

Fiscal arrangements$18.6 ($17.8)

Gas tax fund$2.1 ($2.0)

Federal transfer

support for health andother social programs$42.7 ($40.8)

Alternative payments for standing programs -$3.5 ($3.3)

Childrens benefits$13.1 ($12.9)

EmploymentInsurance$18.3 ($17.5)

Elderlybenefits

$42.0 ($40.1)

Public debtcharges$29.7 ($29.0)DEFICIT

$18.7B ($25.9)

-30

-25

-20

-15

-10

-5

0

5

$10billions

12-13 13-14 14-15

15-16 16-17 17-18

-$25.9

-$18.7

-$6.6

$3.9$0.8

$5.1

0

10

5

15

25

35

20

30

40per cent of GDP

05-06 07-08 09-10 11-12 13-14 15-16 17-18projected

Where it fell short, according to Donald Carson of theCanadian Institute of Chartered Accountants:

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