Tuesday, July 5, 2022

An overview of the taxation system in Canada

Taxes are a significant source of revenue for the federal government of Canada, which makes them an important component in the funding of a wide variety of social and economic initiatives. Although the Canada Revenue Agency (CRA) is largely responsible for tax collection, the federal government and each province government are responsible for enacting new tax legislation (CRA). The federal government of Canada is in charge of collecting all personal income taxes, including those that are collected by the provinces and territories. The only province in Canada that is exempt from this rule is Quebec.
https://bomcas.ca/an-overview-of-the-taxation-system-in-canada/

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