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In 1990, then Prime Minister Brian Mulroney introduced a budget that included a two-year freeze on health care and post-secondary education transfers to the provinces, the elimination of cash grants to businesses, and a 5% cap on spending increases for foreign aid and the military. [20] Plans to privatize Petro-Canada were also announced, a ...
Ontario, the country's most populous province, is a major manufacturing and trade hub with extensive linkages to the northeastern and midwestern United States. The economies of Alberta , Saskatchewan , Newfoundland and Labrador and the territories rely heavily on natural resources .
The economy of Toronto is the largest contributor to the Canadian economy, at 20% of the national GDP, and an important economic hub of the world. [1] Toronto is a commercial, distribution, financial and industrial centre. It is Canada's banking and stock exchange centre and is the country's primary wholesale and distribution point.
The GST applies nationally. The HST includes the provincial portion of the sales tax but is administered by the Canada Revenue Agency (CRA) and is applied under the same legislation as the GST. The HST is in effect in Ontario, New Brunswick, Newfoundland and Labrador, Nova Scotia and Prince Edward Island.
In 1996, three of the four Atlantic provinces—New Brunswick, Newfoundland and Labrador, and Nova Scotia—entered into an agreement with the Government of Canada to implement what was initially termed the "blended sales tax" (renamed to "harmonized sales tax") which would combine the 7% federal GST with the provincial sales taxes of those provinces; as part of this project, the PST portion ...
Canada is a country in North America.Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's second-largest country by total area, with the world's longest coastline.
[47] [48] By 2007, Low-Income Cut-Off (LICO) rates were often quoted by the media as a measure of poverty [49] even though Statistics Canada had stated that it was not a poverty measure. [ 50 ] As of 2011, 8.8% of Canadians were in a family whose income is below the after-tax low-income cut-off.
The goods and services tax [1] (GST; French: Taxe sur les produits et services) is a value added tax introduced in Canada on January 1, 1991, by the government of Prime Minister Brian Mulroney. The GST, which is administered by Canada Revenue Agency (CRA), replaced a previous hidden 13.5% manufacturers' sales tax (MST).