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Canada Publishes Tax Expenditures Report

by Mike Godfrey, Tax-news.com, Washington

01 March 2017


The Canadian Government has published its 2017 report on the fiscal cost of federal tax expenditures.

The Government of Canada first reported on federal tax expenditures in 1979, and has published estimates of tax expenditures for personal and corporate income taxes, as well as for the goods and services tax (GST), since 1994.

The 2017 report adopts a broad definition of the concept of tax expenditures as measures that "are considered to depart from a 'benchmark' tax structure that is characterized only by the most fundamental aspects of a tax system – for instance, the application of a general rate to a broadly defined tax base."

It provides estimates of the fiscal cost of federal tax measures designed to ensure the proper functioning of the federal tax system and support the priorities of the Government. It provides background information on each tax expenditure.

It also includes three analytical papers: an evaluation of the recently abolished Children's Fitness Tax Credit and Children's Arts Tax Credit; an evaluation of the GST credit; and an analysis of federal tax expenditures from 1991 to 2015.

Overall, the report provides information on 209 different income tax and GST measures.

TAGS: tax | tax incentives | tax credits | Canada | tax breaks | revenue statistics | individual income tax | services

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