• Peter Kupovics, CPA, CMA, MBA

  • 613-599-4224
  • Home
  • Why Us?
    • Our Value
    • Our Approach
    • Our Guarantees & Offers
    • Our Philosophy
    • Our Strengths
  • About Us
    • About Us
    • How Are We Different?
    • Our Core Values
    • Business Health Check
  • Services
    • All Services
    • Accounting, HST, and WSIB
    • Taxes, Tax Planning, and Tax Advice
    • Financial Statements and Business Advice
    • Reality Check
    • Payroll
    • Accounting Software
  • FAQs
  • 2024 Automobile Deduction
  • About Our Clients
    • Our Ideal Client
    • Client Spotlight
  • Contact Us

Peter Kupovics, CPA, CMA, MBA

    • Home
    • Why Us?
      • Back
      • Our Value
      • Our Approach
      • Our Guarantees & Offers
      • Our Philosophy
      • Our Strengths
    • About Us
      • Back
      • About Us
      • How Are We Different?
      • Our Core Values
      • Business Health Check
    • Services
      • Back
      • All Services
      • Accounting, HST, and WSIB
      • Taxes, Tax Planning, and Tax Advice
      • Financial Statements and Business Advice
      • Reality Check
      • Payroll
      • Accounting Software
    • FAQs
    • 2024 Automobile Deduction
    • About Our Clients
      • Back
      • Our Ideal Client
      • Client Spotlight
    • Contact Us

The Fiscal Monitor

By Liz O'Dowd on November 3, 2014 Comment BubbleLeave a comment

The Department of Finance reports a budgetary deficit of $0.3 billion in August 2014; the Government remains on track to balance the budget in 2015

October 31, 2014 – Ottawa, Ontario – Department of Finance

Finance Minister Joe Oliver today released The Fiscal Monitor for August 2014.

There was a budgetary deficit of $0.3 billion in August 2014, compared with a deficit of $2.0 billion in August 2013.Canadian money - Piggy Bank (Can Stock)

Revenues decreased by $7 million, as increases in personal income tax and Goods and Services Tax revenues were offset by a decrease in corporate income tax revenues. Program expenses decreased by $1.6 billion, or 8.4 per cent, largely reflecting a decrease in direct program expenses. Public debt charges decreased by $0.1 billion, or 4.9 per cent.

Quick Facts

  • For the April to August 2014 period of the 2014–15 fiscal year, the Government posted a budgetary deficit of $1.1 billion, compared with a deficit of $6.6 billion reported in the same period of 2013–14.
  • Revenues were up $4.4 billion, or 4.2 per cent, reflecting increases in tax revenues and Employment Insurance premium revenues, which were partially offset by lower other revenues.
  • Program expenses were down $1.0 billion, or 1.0 per cent, reflecting a decrease in direct program expenses, offset in part by increases in major transfers to persons and other levels of government.
  • Public debt charges were down $0.1 billion, or 1.1 per cent.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Client Login

Contact Us

Sign up for our Small Biz Builder newsletter

Blog Categories

  • Small Biz Advice
  • Tax Alerts
  • News
  • Client Spotlight
  • Just for Fun
  • Featured
  • Featured Articles
Intuit Paytrack CPA

Recent Blog Posts:

Increase in unpaid tax penalty for 2024

31 Mar 2025

2024 Automobile Deduction Limits and Expense Benefit Rates for Business

8 Feb 2022

Year End Tax Planning Edition

2 Feb 2022

Canada Emergency Wage Subsidy – The New Program

27 Jul 2020

Our Location :

Address :

160 D Terence Matthews Crescent, Suite 2
Kanata, ON, K2M 0B2

T: (613) 599-4224
F: (613) 482-3737
Email Form

© 2025-2026 | All rights reserved with Peter Kupovics, CPA, CMA, MBA | Privacy Policy