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The minimum wage was lifted to $13.00 on October 1, 2022, and there were increases of $1.00 in lieu of indexation in 2023 and 2024. [24] Yukon: 17.59 April 1, 2024 Expected indexation based on formula: $17.95 on April 1, 2025 Each April 1, based on Whitehorse CPI for the previous calendar year. [25]
The British Columbia Basic Income Expert Panel Report assesses a basic income for British Columbia. Among the types of basic income examined is a universal basic income (UBI). The BC Green Party made a study of basic income a requirement before it would support the NDP's minority government and, in July 2018, the BC Basic Income Expert Panel ...
Data on basic personal amounts (personal exemption taxed at 0%) can be found on a year by year basis is also available. [13] Their values are contained on line 300 of either the document "Schedule 1 - Federal Tax", or "General Income Tax and Benefit Guide", of each year by year General Income Tax and Benefit Package listed.
If the level is sufficient to meet a person's basic needs (i.e., at or above the poverty line), it is sometimes called a full basic income; if it is less than that amount, it may be called a partial basic income. [5] As of 2024, no country has implemented a full UBI system, but two countries—Mongolia and Iran—have had a partial UBI in the ...
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A formal system of equalization payments was first introduced in 1957. [7] [ Notes 1]. The original program had the goal of giving each province the same per-capita revenue as the two wealthiest provinces, Ontario and British Columbia, in three tax bases: personal income taxes, corporate income taxes and succession duties (inheritance taxes).
The economies of Alberta, Saskatchewan, Newfoundland and Labrador and the territories rely heavily on natural resources. On the other hand, Manitoba, Quebec and The Maritimes have the country's lowest per capita GDP values.
The GDP of the province calculated at basic prices rose by 4.6% in 2017 to $327.4 billion, which was the largest increase recorded in Canada, and it ended two consecutive years of decreases. [92] Alberta's debt-to-GDP ratio is projected to peak at 12.1% in fiscal year 2021–2022, falling to 11.3% the following year. [93]