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Effective on September 13, 1988, the Canadian federal government's General Anti-Avoidance Rule (GAAR) was introduced as a section of the Income Tax Act. In 2005, the federal GAAR, "was substantially amended to apply to a wider array of abusive transactions" and the amendments were retroactive to 1988. [26]: 7
Income taxes in Canada constitute the majority of the annual revenues of the Government of Canada, and of the governments of the Provinces of Canada. In the fiscal year ending March 31, 2018, the federal government collected just over three times more revenue from personal income taxes than it did from corporate income taxes .
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]
The federal government charges the bulk of income taxes with the provinces charging a somewhat lower percentage, except in Quebec. Income taxes throughout Canada are progressive with the high income residents paying a higher percentage than the low income. [31]
Most provinces employ a system of federal-provincial agreements whereby the tax is collected on behalf of a province by the federal government. Quebec is the only province that collects provincial personal income taxes by their agency. Thus, Quebec residents file tax returns with both Revenu Québec and the Canada Revenue Agency. Alberta and ...
The Canada Revenue Agency (CRA; French: Agence du revenu du Canada; ARC) is the revenue service of the Canadian federal government, and most provincial and territorial governments. The CRA collects taxes , administers tax law and policy , and delivers benefit programs and tax credits. [ 4 ]
The tax amnesty is referred to by the Canada Revenue Agency as the Voluntary Disclosure Program (VDP) and has its statutory authority under subsection 220(3.1) of the Income Tax Act and the sections 88 and 281.1 of the ETA which set out the rules for taxpayer relief applications.
In cases of minority government, the government has normally had to include major concessions to one of the smaller parties to ensure passage of the budget. Historically the official opposition used to prepare a complete alternative budget and present this alternative to the Canadian people along with the main budget.