Canadian taxation by the numbers [infographic] via @FBCSmallBizTax "96 Years of Temporary Tax"

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An [Infographic] I created with FBC.ca -- with 12 offices in Canada "Canada's Small Business Tax Specialists". In 1917, Sir Robert Borden, the 8th Prime Minister of Canada, introduced a "temporary" personal income tax to cover wartime expenses: “4% tax on all single men over $2,000.” Despite the additional funds, the first world war put Canada into great debt. After the war, personal and corporate income taxes persisted and eventually became a permanent fixture of the Canadian landscape. How far have we come?

Includes many statistics on the Canadian tax industry.�

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Canadian taxation by the numbers [infographic] via @FBCSmallBizTax "96 Years of Temporary Tax"

  1. 1. CANADIAN TAX LANDSCAPE96 Years of Temporary TaxationIn 1917, Sir Robert Borden, the 8th Prime Minister of Canada, introduced a "temporary"personal income tax to cover wartime expenses: “4% tax on all single men over $2,000.”Despite the additional funds, the first world war put Canada into great debt. After thewar, personal and corporate income taxes persisted and eventually became a permanentfixture of the Canadian landscape. How far have we come?PERSONALTOTAL PERSONAL TAX RETURNS FILED25MINCOMETAX RETURNSSources:-  Filing data from CRA taken from years 2006 through 2010-  FBC Internal Research-  Wikipedia “Taxation in Canada” http://en.wikipedia.org/wiki/Taxation_in_Canada-  Wikipedia “Income Taxes in Canada” http://en.wikipedia.org/wiki/Income_taxes_in_Canada-  Fraser Institute http://www.fraserinstitute.org/research-news/display.aspx?id=18388-  Canada Debt Clock: http://www.davemanuel.com/canada-debt-clock.php-  CRA Income Statistics and GST/HST Statistics: http://www.cra-arc.gc.ca/gncy/stts/menu-eng.html-  Tax Court of Canada:http://cas-ncr-nter03.cas-satj.gc.ca/portal/page/portal/tcc-cci_Eng/About/Full_history-  CRA Income Tax … by the numbers:http://www42.statcan.gc.ca/smr08/2011/smr08_154_2011-eng.htm-  CRA Gross Revenue and Corporate Filers:http://www.cra-arc.gc.ca/gncy/stts/gb06/pst/t2/tbl18-eng.html-  CBC News 25 Facts about income tax:http://www.cbc.ca/news/business/taxseason/story/2012/04/12/f-taxseason-by-the-numbers.html-  Industry Canada SME Research and Statistics:http://www.ic.gc.ca/eic/site/061.nsf/eng/02715.html-  CRA Filing by Industry Group:http://www.cra-arc.gc.ca/gncy/stts/gb06/pst/t2/tbl20-eng.html-  2010-2011 Canada Revenue Agency Snapshot:-  http://www.cra-arc.gc.ca/gncy/snpsht/2010-2011/snp-sht-eng.htmlTAX FREEDOM DAYJUNE  11   $$$ TO PAYTHE DAY YOU FINALLYEARNED ENOUGHALL YOUR TAXES2012  OF THESE, 8.4M RETURNS WERE NON-TAXABLETHE LAST WORD“IF OTTAWA GIVETH, THENOTTAWA CAN TAKETH AWAY”STEPHEN HARPERTAX REVENUES AS A % OF COUNTRY GDPU.S.29%Canada33%U.K.36%Sweden49%TAXES PAID ON AVG WAGE BY COUNTRYNewZealand17.5%U.S.20.5%Canada26.5%U.K.30.3%Greece39%France45.9%AVERAGE TAXPAYER INCOME IN 2010$41,390IS THE AVERAGEGROSS INCOME$30,421IS THE AVERAGEAFTER TAX INCOMENUMBER OF AUDITS BY CRA IN 2009370K"RRSP CONTRIBUTIONSAVG$2,680RRSP CONTRIBUTIONOF ALL TAXPAYERS CONTRIBUTED TO AN RRSP24%TAX RETURNSCORPORATEBUSINESS INCOME TAX RETURNS2.0MINCOMEOF THESE, 1.8M ARE SMALL BUSINESS71% MAKE LESS THAN $300KAVERAGE REFUND FOR 2010$1,587"SIZE OF SMALL BUSINESSESOF BUSINESSES HAVELESS THAN 10 EMPLOYEES75%FILED BY TAXPAYERHOW ARE TAX RETURNS FILED?FILED BY TAX PROFESSIONALPrinted or done by hand Telefile Netfilewith taxsoftwareEFILE with professional tax software ComputerPrintedDonebyhandACCORDING TO THE FRASER INSTITUTEPUBLIC DEBT OF CANADA$605 BILLIONYOUR SHARE OF DEBT:$17,739TO COMPARE, EACH U.S. CITIZEN OWES $54,698""CHEQUESPEOPLE GOTTAX REFUNDS16M REFUNDA FEW FACTS OF OUR OWNAMOUNT FBC SAVEDSMALL BUSINESSES OWNERS$37M IN TAXES LAST YEARFARM & SMALL BUSINESS OWNERS20KTRUST FBC12 LOCATIONS ACROSS CANADAFOR NEWLAST YEAR, FBC MEMBERS …$2.6MIN TAXES RECOVEREDFBC MEMBERSWWW.FBC.CA@FBCSMALLBIZTAX6.4M   350K   3.7M   11.3M   2.4M  750K  ELECTRONIC FILING RATE70%60%50%40%30%20%10%0%2007 2008 2009 2010INDIVIDUAL TAX RETURN (T1)2011CORPORATE TAX RETURN (T2)60%  47%  51%  14%  56%  22%  CRA HAS MADE EFILE MANDATORYFOR ALL PROFESSIONAL TAX PREPARERSSUBSCRIBE FREE TOTHE FBC ADVANTAGE™NEWSLETTERSAVINGS FROM$5.5M AUDIT PROTECTION

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