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The Canadian Credit Union Association (CCUA; French: Association canadienne des coopératives financières) is the national trade association for credit unions in Canada (outside the province of Quebec). Founded in 1953, it rebranded to its current name in January 2016 to reflect its "evolving role as an association that is focused on growing a ...
In Canada, an analogous experiment called Mincome took place in Winnipeg and Dauphin, Manitoba, between 1974 and 1979.Importantly, the city of Dauphin served as a saturation site, since all 10,000 community members were eligible to participate (the elderly and disabled were exempt from the four American NIT experiments); four foci of Mincome were an economic arm (examining labour response), a ...
The Low Income Measure (LIM), a relative measure of low income, identifies a household as low income if the household income is less than 50% of median household income. [54] Advantages to the use LIM is the availability of LIM data going back to 1976 and the widespread use of this measure by other countries, which makes it useful for comparing ...
In March 2015, the International Monetary Fund reported that Canada's high household debt was one of two vulnerable domestic areas in Canada's economy; the second is its overheated housing market. [164] According to Statistics Canada, total household credit as of July 2019 was CAD$2.2 trillion. [165]
A table listing total GDP (expenditure-based), share of Canadian GDP, population, and per capita GDP in 2023. For illustrative purposes, market income (total income less government transfers) [1] per capita from tax returns is included. (The per capita, rather than per tax filer, measure is chosen for comparability with GDP per capita.)
The Canada Workers Benefit (CWB) is a refundable tax credit in Canada. Introduced in 2007 under the name Workers Income Tax Benefit ( WITB ), it offers tax relief to working low-income individuals and encourages others to enter the workforce. [ 1 ]
Pension funds are mutual funds that limit the investor's ability to access their investments until a certain date. In return, pension funds are granted large tax breaks in order to incentivize the working population to set aside a portion of their current income for a later date after they exit the labor force (retirement income).
Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42] This lower direct income tax for Quebec residents is factored in when the federal government transfers (Canada Health Transfer, Canada Social Transfer and Equalization) funds back to the Quebec government. [42]