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Canada Assistance Plan. v. t. e. In Canada, the federal government makes equalization payments to provincial governments of lesser fiscal capacity so that "reasonably comparable" levels of public services can be provided at similar levels of taxation. [ 1] Equalization payments are entrenched in the Constitution Act of 1982, subsection 36 (2).
In December 1945, the Central Mortgage and Housing Corporation was incorporated by act of the 19th Canadian Parliament, taking effect on 1 January 1946. [ 3][ 12] Its founding purpose was to find and create housing for returning war veterans and their families, as well as to lead Canada's housing programs. [ 13]
The Income Tax Act, Part I, subparagraph 2 (1), states: "An income tax shall be paid, as required by this Act, on the taxable income for each taxation year of every person resident in Canada at any time in the year." After the calendar year, Canadian residents file a T1 Tax and Benefit Return [ 5] for individuals.
Mortgage insurance — sometimes referred to as PMI — financially protects your lender if you default on mortgage payments; homeowners insurance financially protects your home with coverage for ...
1. Consider your home’s characteristics. The best budget insurance for your home may depend largely on your home’s characteristics. Considering your home’s location and attributes may be a ...
Ontario and British Columbia have a higher rate of residential property rentals. [106] During the COVID-19 pandemic, housing supplies—particularly affordable housing—dropped to historical lows. [111] The average price of a home in Canada increased 17.1% to $779,000 in Q4 2021 compared to Q4 2020, according to a Royal LePage survey. [112]
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