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Each April 1, based on Canada CPI for the previous calendar year. [5] Alberta [6] 15.00: October 1, 2018 Students under age 18 (working during a school break, summer holidays, or 28 hours or less per week while school is in session): $13.00; British Columbia [7] 17.40 June 1, 2024 Expected indexation based on formula: $17.85 on June 1, 2025
in 1974, the Australian Capital Territory Schools Authority took over responsibility for nearly 60 government schools that were previously under the control of New South Wales. [ 3 ] The Department of Education and Training (DET) was created in December 1997, until being renamed in April 2011 as the Department of Education and Communities (DEC ...
Income taxes in Canada constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada. In the fiscal year ending March 31, 2018, the federal government collected just over three times more revenue from personal income taxes than it did from corporate income taxes .
Canada spends an average of about 5.3 percent of its GDP on education. [30] The country invests heavily in tertiary education (more than US$20,000 per student). [31] As of 2022, 89 percent of adults aged 25 to 64 have earned the equivalent of a high-school degree, compared to an OECD average of 75 percent. [28]
A Capital gains tax was first introduced in Canada by Pierre Trudeau and his finance minister Edgar Benson in the 1971 Canadian federal budget. [56] Some exceptions apply, such as selling one's primary residence which may be exempt from taxation. [57] Capital gains made by investments in a Tax-Free Savings Account (TFSA) are not taxed.
Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction. International duty free shopping may be termed "tax-free shopping". In ...
“I guess if you’re in the bread-making business, there’s a lot of dough to go around,” one Republican lawmaker said.
Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42] This lower direct income tax for Quebec residents is factored in when the federal government transfers (Canada Health Transfer, Canada Social Transfer and Equalization) funds back to the Quebec government. [42]