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The equalization formula has been criticized for not factoring in a below market sale of hydro power to domestic users into the calculation of equalization payments. Between 2005 and 2010, Quebec was calculated to have received 51% more equalization ($42.4 B vs $28.1 B) than it would have if the formula was corrected the same for resource ...
Equalization payments do not, technically, involve wealthy provinces making payments to poor provinces, although in practice this is what happens, via the federal treasury. As an example, a wealthy citizen in New Brunswick, a so-called "have not" province, pays more into equalization than a poorer citizen in Alberta, a so-called "have" province.
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.
Transfer payments to (persons) as a percent of federal revenue in the United States Transfer payments to (persons + business) in the United States. In macroeconomics and finance, a transfer payment (also called a government transfer or simply fiscal transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return ...
Territorial Formula Financing (TFF) is an annual unconditional transfer payment from Canada's federal government to the three territorial governments of Yukon, the Northwest Territories, and Nunavut to support the provision of public services.
Tax equalization is a policy applied by some international companies under which employees who are hired in one country and later accept a (temporary) assignment in another country do not have their total after-tax ("take-home") compensation changed depending on the tax regimes of the country they move to. If the employee is assigned to a ...
An exception to this rule is a state's share of value added tax revenue; up to a quarter of a state's tax revenue can be assigned to especially weak states in advance. The equalization payments are being stepped up, the states entitled to payment adjustments should now receive 95% of the average of all states' revenue compared to 91% in the past.
Equalization is a step in property taxation to bring a uniformity to tax assessment levels across different geographical areas or classes of properties. Equalization is usually in the form of a uniform percentage of increase or decrease to each area or class of property.