ADMS 3520 Lecture Notes - Lecture 1: Corporate Tax In The United States, Canada Pension Plan, Tax Expenditure
7 Jun 2017
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Canadian tax principles (ctp) selected parts of chapters 1 and 2 (see references below) 1: exercises one-1, 3, 4, 6 and self-study problem one-1. Base (what to tax); taxpayer or unit of taxation (who to tax); and rate (how much to tax). Several different tax bases exist in canada: For income taxes (i. e. , personal and corporate income taxes), the base is income. For social security/payroll taxes (e. g. , ei, cpp, eht), the base is salary and benefits. For the hst/gst, the base is the fmv of (most) goods and services. Canada relies more heavily on personal income taxes and less heavily on social security taxes to raise revenues than do other countries. Taxable entities income taxes [1-7 to 1-10] The income tax act (the act or ita ) uses the term person to refer to the three entities that are subject to federal income taxation individuals, corporations and trusts. The ita uses the term individual to refer to a human taxpayer.
