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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).
Equalization payments do not involve wealthy provinces making direct payments to poor provinces as the money comes from the federal treasury. As an example, a wealthy citizen in Quebec, a so-called "have not" province, pays more tax into the federal system and funds more equalization than a poorer citizen in Alberta that pays less federal tax ...
Equalization payments do not, technically, involve wealthy provinces making payments to poor provinces, although in practice this is what happens, via the federal treasury. As an example, a wealthy citizen in New Brunswick, a so-called "have not" province, pays more into equalization than a poorer citizen in Alberta, a so-called "have" province.
Corporations may deduct the cost of capital following capital cost allowance regulations. The Supreme Court of Canada has interpreted the Capital Cost Allowance in a fairly broad manner, allowing deductions on property which was owned for a very brief period of time, [33] and property which is leased back to the vendor from which it originated ...
Successive Alberta governments and popular opinion in the province have decried the equalization formula, noting that Alberta has not received funding under the equalization program since 1965. [7] The current equalization formula was implemented shortly after Stephen Harper 's Conservative Party of Canada formed a minority government after the ...
The Eagles are in the midst of a magical season, but the magic could run out quickly without their star quarterback.. Jalen Hurts is one of the Eagles players that Philadelphia can least afford to ...
Alberta separatism comes from the belief that many Albertans hold that they are culturally and economically distinct from the rest of Canada, particularly Central Canada and Eastern Canada, because of economic imbalances whereby Alberta is a net over-contributor to the system of equalization payments in Canada. [6]
America’s top investors have achieved double-digit returns for years, sometimes decades. Following these top investors is a great strategy for two reasons.