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Lecture 5

SWRK 221 Lecture Notes - Lecture 5: International Development, Grameen Bank, Registered Retirement Savings Plan

Social Work
Course Code
SWRK 221
Karen Hetherington

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Oct 21 Public Financing and Taxation
*things tht are bold are things she said are important in class
Post depression and post WWII
Circa 1966: money transferred to provinces for health and social
By 1966- Canada health and social transfer
Funding of social policy today
-claw back on higher income earners
-adopts 'scal approach to implementing social policy eg: child
witnessed tax credit.
Provinces and territories adjust policies.
-Reduced 'nding required cuts to civil service
-Most put bulk o f funding to health - cost of funding that comes
form the province goes into health
-Welfare becomes warfare- safety net of subsidy per month – now
looking at employer.- change in policy-tax dollars going to
workfare than welfare
The dierence between workfare and welfare
Sources of public funds
-Income tax
-Corporate income tax
-Sales tax
-User fees
-Income generation (lotteries- gambling)
Types of public spending
-Cash transfers (federal and provincial )
-Direct services ( aboriginal population)
-Tax deductions
-Tax credits
Dierence between tax deductions and tax credits
Tax Deductions = lowers the net income on which you pay income tax
Tax Credits = lowers the amount of tax you owe
Two principles of taxation
-Ability to pay
-Payer bene'ts from public spending
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