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Tax Introduction
Essay specific features
Written by:
James R
Date added:
May 22, 2013
Level:
Grade:
A
No of pages / words:
5 / 1187
Was viewed:
5860 times
Rating of current essay:
Essay content:
(effectively increasing taxation for all but low rate individual taxpayers)
AUTHORITY TO LEVY INCOME TAXES:
British North America Act,1867 (renamed Constitution Act, 1867 in 1981) whereby Great Britain agreed to allow Canada to become self-governing, granted authority to federal and provincial powers to impose income taxes...
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Corporate income tax in Canada.(affected by type of corporation and type of income, but not amount of income)
Progressive tax - Rate of tax increases as income level increases.
Eg. Personal income tax in Canada. (see current tax brackets in reference tables at front of Income Tax Act)
Regressive tax - Rate of tax decreases as income level increases...
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