Profits When Compared With 2017–18

Profits When Compared With 2017–18

Total profits amounted to $332.2 billion in 2018–19, up $21.0 billion, or 6.7 %, from 2017–18. The after table compares revenues for 2018–19 to 2017–18.

  • Individual tax revenues increased by $billion in 2018–19, or percent, driven by high work and a good labour market.
  • Corporate tax profits increased by $billion, or percent, showing growth in business profits in many sectors including finance, production and trade that is wholesale.
  • Non-resident tax profits are compensated by non-residents on Canadian-sourced earnings. These profits increased by $billion, or %, mainly showing development in business profits and dividends.
  • Other fees and duties increased by $billion, or percent. GST profits grew by $billion in 2018–19, or %, showing development in retail product sales. Power fees grew by $billion, or %, mainly because of greater aviation gas consumption in 2018–Customs import duties increased by $billion, or %, mainly as a result of application of metal and aluminum retaliatory tariffs. Excluding the tariffs that are retaliatory traditions import duties grew by percent. Other excise taxes and duties had been up $billion, or %, driven mainly by a rise in tobacco excise duties.
  • EI premium profits increased by $billion, or %. It was because of a rise in insurable profits as well as in the premium price for 2018.
  • Other profits increased by $billion, or %, mainly showing a rise in interest and charges profits and a higher return on opportunities, both mostly because of greater interest levels.

The income ratio—revenues as a percentage of GDP—compares the sum total of most revenues that are federal how big is the economy. This ratio is affected by alterations in statutory taxation rates and also by financial developments. The ratio endured at 15.0 % in 2018–19 (up from 14.5 percent in 2017–18). This enhance primarily reflects development in individual and income that is corporate profits along with other fees and duties.

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