8.1.3 What taxes and contributions you pay
Use this checklist to see some of the taxes and contributions that you might pay every year. Check off the ones you pay:
Types of taxes and contributions
Definitions
- Tax: A compulsory financial contribution imposed by law to raise government revenue
- Tariff: A charge (or list of charges) imposed by a government on imports or exports
- Duty: A specific tax imposed by law on imports or exports (same as tariff)
- Fee: A payment for services or for a particular privilege
Most people pay some or all of these taxes and contributions every year. The following graph shows the total amount of revenue governments collect from each type of tax.
Federal, provincial, territorial and local government revenue, 2014 (millions of dollars)
Source: Organisation for Economic Co-operation and Development - 2014.
Text version: Federal, provincial, territorial and local government revenue, 2014 (millions of dollars)
| Type of tax | Amount | Percentage of total tax revenue |
|---|---|---|
| Consumption (sales) taxes | $137, 793 | 24% |
| Property taxes | $59,827 | 11% |
| Payroll taxes | $11,936 | 2% |
| Social security contributions | $87,439 | 16% |
| Income taxes (personal and corporate) | $265,403 | 47% |
| Other taxes | $324 | 0% |
Governments also charge fees for selling resources such as timber, minerals and petroleum. These are not considered taxes because they are the price for buying assets. Unlike some countries, Canada does not charge inheritance taxes, although there are fees for certificates and property transfers on death, and some income taxes can come into effect when a person dies.
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