Where your tax dollars go

Thanks for paying taxes…

Here’s your receipt.

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Ever wonder where the money you pay in taxes actually goes?

We did too, so we went on the hunt for a detailed breakdown of what a typical taxpayer is paying for.

Surprisingly, such a list didn’t exist, so we decided to ask Jack Mintz, taxation expert at the University of Calgary, for help.

Under Mintz’s guidance, graduate student Matt Krzepkowski pored through the financial statements of the government of Canada to figure out where the $6,017 in federal taxes paid by a person making $50,000 in employment income is spent.

Here’s what a receipt would look like.

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