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The Parliament of Canada entered the field with the passage of the Business Profits War Tax Act, 1916 [17] (essentially a tax on larger businesses, chargeable on any accounting periods ending after 1914 and before 1918). [18] It was replaced in 1917 by the Income War Tax Act, 1917 [19] (covering personal and corporate income earned from 1917 ...
Legislation administered by the CRA includes the Income Tax Act, parts of the Excise Tax Act, and parts of laws relating to the Canada Pension Plan, employment insurance (EI), tariffs and duties. [5] The agency also oversees the registration of charities in Canada, and enforces much of the country's tax laws. [6]
A non-refundable tax credit for charitable donations is calculated at the lowest tax rate for the first $200 in a year, and at the highest tax rate for the portion in excess of $200. Donations can result in a reduction in taxes of between 40 and 60% of the donation depending on the province of the taxpayer and type of property donated.
There is a 5% tax on lodging and 5% tax on hotel room fees. New Brunswick: HST: 10: 15 The HST was increased two points to 10% with an overall tax of 15% on July 1, 2016. [6] Newfoundland and Labrador: HST: 10 15 The HST was increased two points to 10% with an overall tax of 15% on July 1, 2016. [7] Northwest Territories: GST: 0: 5 Nova Scotia ...
The Montreal Economic Institute (MEI) is a non-profit research organization (or think tank) based in Montreal, Quebec, Canada. It aims at promoting economic liberalism [ 2 ] through economic education of the general public and what it regards as efficient public policies in Quebec and Canada through studies and conferences.
[29]: 7 Tax planners were able to benefit from the lack of harmonization between Quebec and federal rules related to the taxation of trusts, through the Quebec Truffle—which is a "play on shuffle and trust". [26]: 14 [28] The Québec year-end shuffle refers to a tax planning structure that allows corporations to legally avoid paying taxes.
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Montreal [a] is the largest city ... and tax credits offered to the corporations. In 2010, ... Montreal plays an important role in the finance industry.