Idea 3of 23Builds onA tax, a fee or a price
Revenue is all the tax collected
What do you call all the money a government collects?
Today you'll discover
- how taxes add up
- what revenue means
- what revenue is not
Think firstFamilies pay $30 million; businesses pay $20 million
How much tax money does Maple Town collect this year?
Decide first, then press Next. Watch where the arrows from the left all end up.
Families pay $30 million and businesses pay $20 million of property tax; arrows carry coins into Maple Town. Inside the town's box: revenue, $30 + $20 = $50 million. Then the Ontario government, with income tax, sales tax and business taxes going in. The last step shows the federal government's taxes going in.
See the whole ideathe big idea and the key word, in one place
The big idea
Revenue is all the money a government collects, added together.
Maple Town (made up)Families pay $30 million and businesses $20 million of property tax. The town's revenue is $30 million + $20 million = $50 million.
Easy to get wrongRevenue is the money coming in, before anything is spent. It is not what is left over at the end.
Key word
- revenue
- all the money a government collects, mostly from taxes, added together
Ready to use it?
- Add up a government's taxes to find its revenue.
- Explain what revenue means.