Department of Finance Canada Formed July 1, 1867 Type Department responsible for
Economic and Fiscal Policy
Economic Development and Corporate Finance
Federal-Provincial Relations and Social Policy
Financial Sector Policy
International Trade and Finance
Tax Policy
Corporate Services
Jurisdiction Government of Canada Employees 803 (March 2018)[ 1] Annual budget CA$ 94.1 billion (2018–19)[ 2] Minister responsible Department executive Vacant , Deputy Minister of FinanceWebsite fin .canada .ca
The Department of Finance Canada (French : Ministère des Finances Canada ) is a central agency of the Government of Canada . The department assists the minister of finance in developing the government's fiscal framework and advises the government on economic and financial issues. A principal role of the department is assisting the government in the development of its annual budget .[ 3]
The department is responsible to Parliament through the minister of finance (Chrystia Freeland since August 2020,[ 4] concurrently serving as the deputy prime minister of Canada ) and the associate minister of finance (Randy Boissonnault since October 2021, concurrently serving as the minister of tourism ). The day-to-day operations of the department are directed by the deputy minister of finance (a public servant ). Michael Sabia served as deputy minister until his departure to head Hydro-Québec in May 2023.
The department is headquartered in the James Michael Flaherty Building in downtown Ottawa at the corner of Elgin and Albert.
Branches and sub-agencies
The department is divided into several branches:
Economic Policy Branch
Fiscal Policy Branch
Economic Development and Corporate Finance Branch
Federal-Provincial Relations and Social Policy Branch
Financial Sector Policy Branch
International Trade and Finance Branch
Tax Policy Branch
Law Branch
Corporate Services Branch
Consultations and Communications Branch
Some of the sub-agencies under the Department include:
Acts and legislations under the Department:
Income Tax Act
Federal-Provincial Fiscal Arrangements Act
Customs Act
Customs Tariff Act
Excise Act
Excise Tax Act
Proceeds of Crime (Money Laundering) and Terrorist Financing Act
Income Tax Conventions Interpretation Act
Payment Clearing and Settlement Act
Financial Administration Act
Special Import Measures Act
Bretton Woods and Related Agreements Act
European Bank for Reconstruction and Development Agreement Act
References
External links
Central agencies Officers of Parliament Ministerial departments Other entities Defunct
International National Other