ECON 1000 Chapter Notes - Chapter 12: Canada Social Transfer, Canada Health Transfer, Goods And Services Tax (Canada)
2 Feb 2017
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* tax burden is slightly below g7 average. Canada has federalist structure political power is divided b/w federal gov"t & provincial/territorial gov"ts; greater power w/ federal gov"t. Federal gov"t responsible for : matters of national interest national defense & foreign policy, int"l trade, competition policy, criminal law, and money & banking, delivering some of canada"s national social programs (ie. employment. Insurance & canada pension plan: unlimited taxing powers. Provincial/territorial gov"t responsible for : areas of health care, education, welfare, natural resources w/in their boundaries, civil law, extensive taxing powers. Equalization payments: federal gov"t provides general-purpose transfers to have-not provinces so that they can provide services that are roughly comparable to those offered by have provinces, have provinces alberta, british columbia, saskatchewan, Primary aim of tax system is to raise revenue for gov"ts. 2 objectives of policymakers in designing a tax system: efficiency, equity. Ch 12: the design of the tax system.
