The most important source of revenue for the federal government is

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Tax revenue is the most significant source of revenue for the federal government. It includes personal income tax, corporate income tax, excise tax, and payroll taxes. In the fiscal year 2019-2020, tax revenue accounted for 91.6% of the federal government's total revenue. Investment income from the Bank of Canada, seigniorage, and import tariffs are other sources of revenue, but they are comparatively insignificant.

The Most Important Source of Revenue for the Federal Government