How much does the Ontario Government collect?
After the federal government, Ontario has the largest revenue base of all governments in Canada. This is according to data from the Fiscal Reference Tables published by the Department of Finance Canada. In 2024-2025, the Government of Ontario collected $226.2 billion in revenue. That’s more than a $20 billion or a 10% increase from the previous year. Between 2019-2020 and 2024-2025, total revenues have been trending upwards, increasing at an average annual rate of 5%.
The Government of Ontario’s revenues can be categorized into six main categories: Income taxes; consumption and property taxes; federal transfers; investment and government enterprise income; fees and other non-tax revenue; and other taxes.
In 2024-2025, revenues from income taxes accounted for nearly 4 out of every 10 dollars the Ontario government collected, placing it atop the list of the province’s income streams. Among income taxes, personal income taxes added $55.7 billion (about 25% of total revenue), and corporate taxes added $27.8 billion (about 12% of total revenue). Together, they totaled $83.5 billion, representing about 37% of all revenue Ontario collected that fiscal year.
Consumption and property taxes, which include sales taxes, education property taxes, and gasoline and fuel taxes, are the second-largest source of revenue for Ontario, adding $47.5 billion. Within this category, sales taxes are the primary source of revenue, with the Government of Ontario collecting $39.4 billion in fiscal 2024-2025.
Transfers from the federal government are the province's third-largest source of income. In 2024-2025, Ontario received $36.6 billion in government transfers. These include funds delivered through the Equalization Program; the Canada Health Transfer (CHT), which provides long-term funding for healthcare services; the Canada Social Transfer (CST), which provides funding for post-secondary education, social assistance, and early childhood development; and funds from other programs.
Income taxes are the largest source of revenue for the Ontario government
About 4 out of every 10 dollars the Ontario government collected in 2024-2025 were from taxes. Personal income taxes represented the largest source of revenue for the government. Figures are for fiscal years 2019–20 to 2024–25, billions of CAD. Hover bars for line-item detail.
Source: Government of Ontario Annual Reports. Figures in billions of CAD.
Data Sources and Notes:
(1) Department of Finance Canada, Fiscal Reference Tables November 2025.
(2) Government of Ontario, Public Accounts: Annual Reports.
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