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The provinces of British Columbia, Saskatchewan, and Manitoba levy a retail sales tax, and Quebec levies its own value-added tax, which is called the Quebec Sales Tax. The province of Alberta and the territories of Nunavut , Yukon , and Northwest Territories do not levy sales taxes of their own.
The Government of Canada collects about $5 billion per year in excise taxes on gasoline, diesel, and aviation fuel [21] as well as approximately $1.6 billion per year from GST revenues on gasoline and diesel (net of input tax credits). The Canada Revenue Agency, a part of the government, collects these taxes.
Legislation administered by the CRA includes the Income Tax Act, parts of the Excise Tax Act, and parts of laws relating to the Canada Pension Plan, employment insurance (EI), tariffs and duties. [5] The agency also oversees the registration of charities in Canada, and enforces much of the country's tax laws. [6]
Speaking before the Detroit Economic Club on Thursday, Trump promised to make the interest paid on car loans fully tax deductible, similar to the popular existing deduction for mortgage interest.
C. Canada small business tax rate; Canada Trustco Mortgage Co v Canada; Canada workers benefit; Canadian efile; Canadian import duties; Canadian Tax Foundation
It also collects corporate income taxes on behalf of all provinces and territories except Alberta. Canada's federal income tax system is administered by the Canada Revenue Agency (CRA). Canadian federal income taxes, both personal and corporate income taxes, are levied under the provisions of the Income Tax Act. [2]
The rich tax cheat used his unlawful proceeds to build a 51,000-square-foot mansion, featuring an outdoor pool and pool house; and tennis, basketball and bocce courts. His greed didn’t stop there.
In many cases tax break is announced with a limitation factor, which restricts the maximum use of this tax break. For example, a tax credit is given for purchases of electric cars. The tax credit should deprecate 10% from purchases, but the limiting factor is 500$, which can’t be exceeded. [1] [2] The tax break is utilized for numerous ...