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Effective January 1, 2012, the net federal corporate income tax rate in Canada was 15%, or 11% for corporations able to claim the small business deduction; in addition, corporations are subject to provincial income tax that may range from zero to 16%, depending on the province and the size of the business.
The day was a holiday for federal government employees. [29] The provinces of British Columbia, New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island also enacted provincial equivalents for the federal holiday. The provinces of Alberta, Ontario, Manitoba, Saskatchewan, and Quebec did not enact any holiday. [30]
In Canada, payroll taxes are used to support the government's Pension Plan (CPP or QPP) and Employment Insurance program (EI) while income taxes are used to fund public healthcare and other federal and province/territory programs.
The list of US federal holidays is made up of 11 days of significance that Americans recognise and celebrate
It is an example of the second type of payroll tax, but unlike in other jurisdictions, it is paid directly by employees rather than employers. Unlike the first type of payroll tax as it is applied in Canada, though, there is no basic personal exemption below which employees are not required to pay the tax. [8]
2023 federal holidays: New Year’s Day: Sunday, January 1 (Observed Monday, January 2) Martin Luther King Jr Day: Monday, January 16. Presidents’ Day: Monday, February 20.
Normally, the U.S. recognizes 11 federal holidays, but Inauguration Day will make the list in 2025. It will only be a holiday for federal employees in Washington, D.C., and certain federal offices.
Canada's varied labour laws are a result of its geography, historical, and cultural variety. This expressed in law through the treaty-/land-based rights of individual indigenous nations, the distinct French-derived law system of Quebec, and the differing labour codes of each of the provinces and territories.