123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Business >> View Article

Taxation Policy In Canada

By Author: Josep Guardiola
Total Articles: 49

The taxation policy in Canada is governed by several policies which takes place under the federal government of Canada. The Canada Taxation has been formed under the Constitution Act in Canada which was first implemented in the year 1967. The powers related to the policies of taxation are vested in the parliament of Canada. The taxation was done at 2 levels, one of which at the federal level and the other one at the provincial level under the provincial legislatures.

Some of the main objectives of implementing the taxation policies include:

1) Rising the money by implementing the methods and the systems of taxation
2) Under the legislatures at the provincial levels by employing the direct taxation policy in order to raise the revenue to sort the needs and the requirements of the funds at the provincial levels. The taxes which are collected under the small states, provinces or legislatures are known as the tax havens.
3) Collection of money from the licensed business such as shops, Auctioneers, Tavern and other licenses in order to generate the revenues for the Local or the Municipal Purposes.

The municipal courts were assigned by the provincial legislatures in order to collect the direct taxes.

An example of the direct tax includes the property taxes.


The taxation policies as per the definition given under the Supreme Court of Canada in 1930 involved the following characteristics:

1) The taxation policies that are made by the government can be enforced under the federal law of Canada.
2) The Direct policy of the Canadian Taxation scheme can be imposed under the legislature authority.
3) The taxation policies of the government are levied under any public body.
4) The taxation policies are intended only for public purposes and for the benefit of the people.

In the year 1987 some amendments were made in the taxation policies for the non residents. The taxation policy for the non residents included all those people who either did not belong to Canada or reside outside Canada for more than 183 days in the tax year. The people who fall under this category had to pay the taxes according to a different taxation schemes. The taxation policy for the Canadian government collects the taxes from the non residents so that these taxes can be used by the government for the welfare of the people.

The taxation, be it the resident taxation or the non resident tax falls under two major categories.

1) Direct taxation: The direct taxation policy depends on the policies which look into the payment in the form of amount. Thus in cases of direct taxation policy the tax have to be paid in cash.
2) Indirect Taxation: indirect taxation is the taxes that have to be paid by the companies and the corporate in the form of revenues. These taxes thus are not paid directly by the people but the companies.

Thus the policies that are implemented by the government of Canada have been made in accordance with the needs of the government in terms of the revenues and funds and is implemented according to the planning and the strategy.

About Author:-
Josep Guardiola is a chartered accountant who practices as an independent tax consultant. He also author of tax havens, in this article he provides nonresident tax tips. For more information you can visit Taxca.com.

Total Views: 109Word Count: 543See All articles From Author

Business Articles

1. Cat 5e Vs Cat 6a: Understanding The Major Differences
Author: Jenifer Truong

2. Domestic Mini Skip Rental
Author: grinnersskipsseo

3. Hon Your Creativity Using Scrapbooking Ribbons
Author: ribbonsforsale

4. Increase The Work Productivity By Opting For Best Quality Drying System Parts
Author: Unknown Member

5. House Windows Okc – Replace It By A Professional As A Responsible Homeowner
Author: Fred Lydick

6. Outdoor Chairs: Add Charm To Your Outdoors
Author: Arnold Green

7. Real Estate Developers & Builders
Author: ccsheffield2016

8. Efficient Way To Execute Marketing Campaigns With Health Care Email Lists
Author: deena jose

9. Healthcare Email List - Fill The Gap Between You And Your Customers
Author: deena jose

10. Analysis-examine Your Results For Better Benefit In The Finance Industry, Using Financial Services
Author: deena jose

11. 60 Minutes-take Some Additional Minutes To Plan Your Business, Using Financial Services Mailing List
Author: deena jose

12. How To Render High Productivity Of Marketing Campaigns Using Os Email List
Author: Ray Wilson

13. How To Get The Maximum Number Of Sales And Roi Using Erp Users Email Lists
Author: Ray Wilson

14. Keep A Track Of Your Resources – Erp Users Email Lists
Author: deena jose

15. How To Enlarge Customer Base By Using Technology Users Lists
Author: Ray Wilson

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: