Corporate Income Tax Revenue: Income Tax Revenue

income tax revenue: A drop in personal and corporate income tax offset higher revenue from other sources, while spending increased slightly, according to the Finance Department's monthly Fiscal Monitor report issued Friday. , according to Winnipeg Free Press. The lower income tax revenue was partially offset by an increase in excise taxes and duties, employment insurance premiums and other revenue. OTTAWA - The federal government posted a deficit of $2 billion in July, compared with a deficit of $1.4 billion in the same month last year, mostly as a result of lower income tax revenue and higher spending to service the public debt. Overall revenue dropped by $500 million to $19.8 billion. Personal income tax revenue fell $200 million to roughly $10.5 billion. Corporate income tax revenue was off by $1.3 billion or 73.7 per cent, to $454 million, due to timing issues. (www.immigrantscanada.com). As reported in the news.