Search results
Results from the WOW.Com Content Network
The Canadian federal government announced in 2023-24, $94.6 billion to transfer to the provinces and territories through major transfers (Canada Health Transfer, Canada Social Transfer, Equalization and Territorial Formula Financing), direct targeted support and trust funds), a $7 billion increase from the previous year, 2022-23.
Quebec's high provincial taxes account for its budget surplus, although without equalization Quebec would have had a deficit. [28] Quebec residents pay the highest provincial tax in the country but the lowest federal tax. [41] Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42]
Rank Name Level of government Total expenditure Per-capita expenditure Fiscal year Source 1 Canada: Federal 338,500,000,000 2018-19 [1]2 Ontario: Provincial
Since provincial finances depend on funds from the federal government, they are usually released after the federal budget. ... 16 April 2024 C-69: Royal Assent (20 ...
The total financial liabilities or gross debt of the Canadian consolidated provincial, territorial and local governments (PTLG) was $1,460 billion in 2021 (the fiscal year ending 31 March 2022), as shown in the table below. [3] Provincial government gross debt is a substantial proportion of the $2,942 billion of public debt obligations of ...
The return is the method by which the Canadian government determines the appropriate amount of tax that should be paid by individuals and corporations. The result of filing a return with the federal government can result in either a refund (money owed to the person or corporation filing the return), or an amount due to be paid.
The CCRA was given a broad mandate that covered taxation, customs, and border protection. This arrangement only lasted until December 2003, when the Canada Border Services Agency was spun off from the CCRA due to issues relating to interdepartmental collaboration between the CCRA, Citizenship and Immigration Canada and the Canadian Food ...
The provincial legislatures have a more restricted authority under ss. 92(2) and 92(9) for: 2. Direct Taxation within the Province in order to the raising of a Revenue for Provincial Purposes.... 9. Shop, Saloon, Tavern, Auctioneer, and other Licences in order to the raising of a Revenue for Provincial, Local, or Municipal Purposes.