Ottawa, January 18, 2011

Archived - Department of Finance Releases Annual Tax Expenditures and Evaluations Report

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The Department of Finance today released the 2010 Tax Expenditures and Evaluations report.

This report provides estimates and projections of the revenue impacts of federal tax measures designed to support the economic and social priorities of the Government.

The publication reflects tax measures that the Government of Canada has implemented to reduce the tax burden on Canadians.

“Our Government’s commitment to lower taxes is long-standing, and has been backed by action in every one of our budgets,” said the Honourable Jim Flaherty, Minister of Finance.

“We have been working to reduce the tax burden on Canadians since the day we took office. Even in the recent global recession, we provided tax relief that has left more money in the hands of families and businesses across Canada, giving the economy a boost when it needed it most.”

This year’s edition of the report includes two research reports. The first, “Taxes and the Preferred Source of Corporate Finance,” provides an historical perspective of the tax burden on corporate financing sources in Canada. The second, “The Response of Individuals to Changes in Marginal Income Tax Rates,” is a study of how individuals responded to recent reductions in personal income tax rates.

A reference document, Tax Expenditures: Notes to the Estimates/Projections, which was last published in 2004, has also been updated. This document describes the various tax measures and their policy objectives.

For further information, media may contact:

Annette Robertson
Press Secretary
Office of the Minister of Finance

Jack Aubry
Media Relations
Department of Finance

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