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The constitutional authority for the various provincial income taxes is found in section 92 paragraph 2 of the Constitution Act, 1867, which assigns to the legislature of each province the power of "Direct Taxation within the Province in order to the raising of a Revenue for Provincial Purposes". The courts have held that "an income tax is the ...
Ontario [20] 17.20: October 1, 2024 Students under age 18 (working during a school break, summer holidays, or 28 hours or less per week while school is in session): $16.20; Homeworkers (employees who do paid work in their own homes - includes students and supersedes the student wage): $18.90
Province Introduction of personal income tax Introduction of corporate income tax Tax collection assumed by federal government Personal tax collection resumed by province Corporate tax collection resumed by province Corporate tax collection resumed by federal government British Columbia: 1876: 1901: 1941 [it 1] Alberta: 1932 [it 2] 1932 [it 2 ...
Until the 2009–2010 fiscal year, Ontario was the only province to have never received equalization payments. In 2009–2010, due to the global Great Recession, Ontario began to receive equalization payments [16] with its first payment amounting to $347-million. [53] The equalization formula is "based on a three-year average of economic growth".
Reciprocal respect, in this case, is a pay package that dwarfs all pay packages at all other Fortune 500 companies. For example, the highest-paid executive in the U.S. this year was Hock E. Tan ...
Rates were meant to be reduced to 14 and 13% on July 1, 2014 and July 1, 2015 respectively. However, the government has stated that the province cannot afford reductions. [9] Nunavut: GST: 0: 5 Ontario: HST: 8: 13 Prince Edward Island: HST: 10: 15 [10] The HST was increased one point to 15% on October 1, 2016. [1] Quebec: GST + QST: 9.975 [11 ...