Income Tax Act (Canada)

The Income Tax Act of Canada, originally known as The Income War Tax Act, is federal legislation governing income taxes paid in Canada. It was originally introduced as a means to pay for the expenses of World War I. Income taxes are levied by both the federal government and the provincial and territorial governments and is collected by the federal government agency Canada Revenue Agency which administers both the Income Tax Act and the Excise Tax Act. Over 75% of Canadians file income taxes.