281 #12) a) main revenue sources and amounts For the fiscal year 2000-2001, (all amounts in billions and rounded off to the nearest tenth)Personal income - $75.9Corporate income tax - $23.9Sales and excise taxes/duties - $33.5U.I. premiums - $18.2Other - $10.5In total, there will be an estimated $162.0 billion in government revenue for the fiscal year 2000-2001. b)projected future revenues For fiscal year 2001-2002, (all amounts in billions and rounded off to the nearest tenth)Personal income - $78.7Corporate income tax - $24.8Sales and excise - $35.4U.I premiums - $18.0Other - $11.0In total, there will be an estimated $168.0 billion in government revenue for the fiscal year 2001-2002. c)main expenditures and amounts For the fiscal year 2000-2001, (all amounts in billions and rounded off to the nearest tenth)Major transfers to provinces - $22.6Subsides and transfers - $19.6Public debt charges - $42.0Contingency cushions - $4.0Elderly benefits - $24.2U.I. benefits - $11.8Other - $37.8In total there will be an estimated $162.0 billion in government expenditure for the fiscal year 2000-2001. d)projected future expenditures For the fiscal year 2001-2002, (all amounts in billions and rounded to the nearest tenth)Major transfers to provinces - $24.1Subsides and transfers - $20.2Public debt charges - $41.5Contingency cushions - $5.0Elderly benefits - $25.0U.I benefits - $12.8Other - $39.5In total there will be an estimated $168.0 billion in government expenditures for the fiscal year 2001-2002. e)the budget proposals and the government's explanation for why they have been adoptedThe government has promised a five year relief plan to restore full indexation of personal income tax system to both shield the tax payers from inflation and cut rates for the first time in 12 years.- the basic personal credit increases from $7, 131 to $7, 731 this year. Which results in a savings of $17 for everyone who earns more than the previously stated amoun...
