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Further deductions are allowed in determining "taxable income", such as capital losses, half of capital gains included in income, and a special deduction for residents of northern Canada. Deductions permit certain amounts to be excluded from taxation altogether. "Tax payable before credits" is determined using five tax brackets and tax rates.
Taxpayers can apply a few tax deductions, such as a deduction for a child (starting at approx. 600EUR annually in 2021), for being a student (approx. 160EUR in 2021), for a dependent spouse (approx. 1000EUR in 2021) and more. [11] Health and social insurance are mandatory and a part of a payroll tax. The health insurance rate is 13,5%.
In 620 Connaught Ltd. v. Canada (Attorney General), the Westbank framework was qualified to require "a relationship between the charge and the scheme itself." [7] This has resulted in situations where an imposition can be characterized as neither a valid regulatory charge nor a valid tax. In Confédération des syndicats nationaux v.
Employers are charged a payroll health care tax (with an exemption for small businesses), and residents of the province pay a health premium (introduced in 2004) as part of their income taxes. Similarly, Ontario publicly funds hospitals.
The Canada Revenue Agency (CRA; French: Agence du revenu du Canada; ARC) is the revenue service of the Canadian federal government, and most provincial and territorial governments. The CRA collects taxes , administers tax law and policy , and delivers benefit programs and tax credits. [ 4 ]
Handling payroll typically involves ... is the total payment that an employee earns before any deductions or taxes ... In Canada, payroll taxes are used to support ...
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The GST applies nationally. 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.