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' Metropolitan Regional Transportation Authority ') is an umbrella organization that manages and integrates road transport and public transport in Greater Montreal in Quebec, Canada. The organization was created by the Government of Quebec on June 1, 2017, replacing the former planning mandate of the Agence métropolitaine de transport (AMT). [4]
The alternative minimum tax (AMT) is a tax imposed by the United States federal government in addition to the regular income tax for certain individuals, estates, and trusts. As of tax year 2018, the AMT raises about $5.2 billion, or 0.4% of all federal income tax revenue, affecting 0.1% of taxpayers, mostly in the upper income ranges. [1] [2]
The HST includes the provincial portion of the sales tax but is administered by the Canada Revenue Agency (CRA) and is applied under the same legislation as the GST. The HST is in effect in Ontario , New Brunswick , Newfoundland and Labrador , Nova Scotia and Prince Edward Island .
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 .
Rents paid to non-residents are subject to a 25% withholding tax on the “gross rents”, which is required to be withheld and remitted to Canada Revenue Agency (“CRA”) by the payer (i.e. the Canadian agent of the non-resident, or if there is no agent, the renter of the property) each time rental receipts are paid or credited to the ...
In 2018, Canada passed the GHGPPA, implementing a revenue-neutral carbon tax starting in 2019, [34] [35] which applies only to provinces whose carbon pricing systems does not meet federal requirements. [35] Revenue from the carbon tax was to be redistributed to the provinces. [35]
Many systems, including the United States and Canada, extend this tax free treatment to the formation of a corporation by any group of shareholders in control of the corporation. [47] Generally, in tax free formations the tax attributes of assets and liabilities are transferred to the new corporation along with such assets and liabilities.
In 1996, three of the four Atlantic provinces—New Brunswick, Newfoundland and Labrador, and Nova Scotia—entered into an agreement with the Government of Canada to implement what was initially termed the "blended sales tax" (renamed to "harmonized sales tax") which would combine the 7% federal GST with the provincial sales taxes of those provinces; as part of this project, the PST portion ...