Search results
Results from the WOW.Com Content Network
The Government of Canada collects about $5 billion per year in excise taxes on gasoline, diesel, and aviation fuel [21] as well as approximately $1.6 billion per year from GST revenues on gasoline and diesel (net of input tax credits). The Canada Revenue Agency, a part of the government, collects these taxes.
In Prince Edward Island, Summerside had an income tax from 1870 to 1880, and Charlottetown imposed one from 1880 to 1888. [29] While Nova Scotia permitted municipal income tax in 1835, Halifax was the first municipality to levy one in 1849. [29] New Brunswick allowed the collection of income taxes in 1831. [30]
The goods and services tax is defined in law at Part IX of the Excise Tax Act.GST is levied on supplies of goods or services purchased in Canada and includes most products, except certain politically sensitive essentials such as groceries, residential rent, medical services, and services such as financial services.
There is a 5% tax on lodging and 5% tax on hotel room fees. New Brunswick: HST: 10: 15 The HST was increased two points to 10% with an overall tax of 15% on July 1, 2016. [6] Newfoundland and Labrador: HST: 10 15 The HST was increased two points to 10% with an overall tax of 15% on July 1, 2016. [7] Northwest Territories: GST: 0: 5 Nova Scotia ...
Taxpayer relief is governed by subsection 220(3.1) of the Income Tax Act and section 281.1 of the Excise Tax Act. It gives the CRA the discretion to cancel some penalties and interest, to pay a personal income tax refund after 3 years of the tax return being assessed, and to accept late-filed elections. [63]
To help maintain revenue neutrality of total taxes on individuals, the Canadian government (for the GST) and the participating provincial governments have accompanied the change from a cascading tax to a value-add tax with a reduction in income taxes, and instituted direct transfer payments (refundable tax credits) to lower-income groups.
Unlike sales taxes, which apply to any product or service sold, excise taxes apply to a single good, service or activity for a special reason. For example, cigarettes have a federal excise tax of ...
As of 2017, the excise tax on gasoline was €0.651 per liter (regional prices varied from €0.407 to €0.6682). With a VAT rate of 20%, the percent of the total price of gasoline that came from taxes was 63.9% [12] The excise tax on diesel fuel was €0.531 per liter (€0.5307 to €0.5631). With the 20% VAT, 59.3% of the total cost of ...