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2006 Canadian Federal Budget
The Canadian federal budget for the fiscal year 2006–2007, was presented to the House of Commons of Canada by Finance Minister Jim Flaherty on May 2, 2006. Among the most notable elements of the federal budget were its reduction of the Goods and Services Tax by one percentage point, income tax cuts for middle-income earners, and $1,200-per-child childcare payment (the "Universal Child Care Benefit") for Canadian parents. Prime Minister Stephen Harper called the bill an indication of what Canadians should expect from his Conservative minority government. Many aspects of the bill were criticized by opposition parties. The Liberal Party and New Democratic Party indicated that they would not support the budget, while the Bloc Québécois indicated that it would vote in favour of it. On June 6, 2006, the budget was introduced for a third reading in the House of Commons. Amid an apparent mix-up, no Members of Parliament rose to speak. Thus, the budget was declared passed by unan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
39th Canadian Parliament
The 39th Canadian Parliament was in session from April 3, 2006 until September 7, 2008. The membership was set by the 2006 federal election on January 23, 2006, and it changed only somewhat due to resignations and by-elections. The Parliament was dissolved on September 7, 2008, with an election to determine the membership of the 40th Parliament occurring on October 14, 2008. There were two sessions of the 39th Parliament: Overview The 39th Parliament was the longest minority government led by any federal government excepting Mackenzie King's Liberal Party government in the 14th Parliament, which fluctuated between majority and minority status. No other Conservative minority had previously lasted a full year, and only Lester B. Pearson's governments had lasted more than two. The 39th Parliament was controlled by a Conservative Party minority, led by Prime Minister Stephen Harper and the 28th Canadian Ministry, which assumed power on February 6, 2006. The Official Opposi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flu Pandemic
An influenza pandemic is an epidemic of an influenza virus that spreads across a large region (either multiple continents or worldwide) and infects a large proportion of the population. There have been six major influenza epidemics in the last 140 years, with the 1918 flu pandemic being the most severe; this is estimated to have been responsible for the deaths of 50–100 million people. The most recent, the 2009 swine flu pandemic, resulted in under 300,000 deaths and is considered relatively mild. These pandemics occur irregularly. Influenza pandemics occur when a new strain of the influenza virus is transmitted to humans from another animal species. Species that are thought to be important in the emergence of new human strains are pigs, chickens and ducks. These novel strains are unaffected by any immunity people may have to older strains of human influenza and can therefore spread extremely rapidly and infect very large numbers of people. Influenza A viruses can occasionall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ralph Klein
Ralph Philip Klein (November 1, 1942 – March 29, 2013) was a Canadian politician and journalist who served as the 12th premier of Alberta and leader of the Progressive Conservative Association of Alberta from 1992 until his retirement in 2006. Klein also served as the 32nd mayor of Calgary from 1980 to 1989. Ralph was born and mostly grew up in Calgary, Alberta. After dropping out of High School in grade 11, Klein joined the Royal Canadian Air Force reserves for one year and then attended the Calgary Business College. Klein later worked as a teacher and principal at the Calgary Business College, and later public relations with non-profits. After that, Klein became a prominent local journalist in Calgary where he reported on the challenges of the working class, social outcasts and First Nations, endearing himself to those groups. In 1980, Klein turned his attention to politics and as an underdog was elected Mayor of Calgary, where he oversaw the boom and bust of the oil indu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business News Network
BNN Bloomberg (formerly Business News Network and Report on Business Television) is a Canadian English language specialty channel owned by Bell Media. It broadcasts programming related to business and financial news and analysis. The channel is headquartered at 299 Queen Street West in Downtown Toronto. Since April 30, 2018, the network has operated as a partner of the U.S. business channel Bloomberg Television, although BNN still produces a large portion of its business day programming in-house. Much of the channel's programming is also simulcast by radio stations CFTE in Vancouver and CKOC in Hamilton under the branding ''BNN Bloomberg Radio''. History As Report on Business Television (RoBTV) The network was licensed by the Canadian Radio-television and Telecommunications Commission (CRTC) in 1996 to a joint venture of Thomson Corporation (50%), Western International Communications (25%) and Cancom (25%). It launched on September 1, 1999 as ''Report on Business Television'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jack Layton
John Gilbert Layton (July 18, 1950 – August 22, 2011) was a Canadian academic and politician who served as the leader of the New Democratic Party (NDP) from 2003 to 2011 and leader of the Official Opposition in 2011. He previously sat on Toronto City Council, occasionally holding the title of acting mayor or deputy mayor of Toronto during his tenure as city councillor. Layton was the member of Parliament (MP) for Toronto—Danforth from 2004 until his death. The son of a Progressive Conservative cabinet minister, Layton was raised in Hudson, Quebec. He rose to prominence in Toronto municipal politics, where he was one of the most prominent left-wing voices on the city and Metropolitan Toronto councils, championing many progressive causes. In 1991, he ran for mayor, losing to June Rowlands. Returning to council, he rose to become head of the Federation of Canadian Municipalities. In 2003, he was elected leader of the NDP on the first ballot of the convention. Under his l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John McCallum
John McCallum (born 9 April 1950) is a Canadian politician, economist, diplomat and former university professor. A former Liberal Member of Parliament ( MP), McCallum was the Canadian Ambassador to China from 2017 to 2019. He was asked for his resignation by Prime Minister Trudeau in 2019. As an MP, he represented the electoral district of Markham—Thornhill, and had previously represented Markham—Unionville and Markham. He is a member of the Queen's Privy Council for Canada. A veteran federal politician who began his political career in 2000, McCallum has served in the governments of Liberal prime ministers Jean Chrétien, Paul Martin, and Justin Trudeau. McCallum has previously been Secretary of State (International Financial Institutions), Minister of National Defence, Minister of Veterans Affairs, and Minister of Immigration, Refugees and Citizenship. Early life and education McCallum was born in Montreal, Quebec, the son of Joan (Patteson) and Alexander Campbell ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Master Limited Partnership
In the United States, a master limited partnership (MLP) or publicly traded partnership (PTP) is a publicly traded entity taxed as a partnership. It combines the tax benefits of a partnership with the liquidity of publicly traded securities. To obtain the tax benefits of a pass through, MLPs must generate at least 90% or more of their income from qualifying sources such as from production, processing, storage, and transportation of depletable natural resources and minerals. In addition, real property rents also qualify. While the "MLP" and "PTP" terms are commonly used interchangeably, MLPs are technically a type of limited partnership that conducts its operations through subsidiaries, and are not always publicly traded. While most PTPs are organized as MLPs, a PTP may be organized as a limited liability company that elects to be taxed as a partnership. History In 1981, Apache Corporation formed the United States' first MLP, Apache Petroleum Company (APC). Apache’s success d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flow-through Entity
A flow-through entity (FTE) is a legal entity where income "flows through" to investors or owners; that is, the income of the entity is treated as the income of the investors or owners. Flow-through entities are also known as pass-through entities or fiscally-transparent entities. Common types of FTEs are general partnerships, limited partnerships and limited liability partnerships. In the United States, additional types of FTE include S corporations, income trusts and limited liability companies. Most countries require an FTE (or its owners) to file an annual return reporting the shares of income allocated to owners, and to provide each owner with a statement of allocated income to enable owners to report their shares of income on their own tax returns. In the United States, the statement of allocated income is known as a K-1 (or Schedule K-1). Depending on the local tax regulations, this structure can avoid dividend tax and double taxation because only owners or investors are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Bracket
Tax brackets are the divisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, though that is rarer). Essentially, tax brackets are the cutoff values for taxable income—income past a certain point is taxed at a higher rate. Example Imagine that there are three tax brackets: 10%, 20%, and 30%. The 10% rate applies to income from $1 to $10,000; the 20% rate applies to income from $10,001 to $20,000; and the 30% rate applies to all income above $20,000. Under this system, someone earning $10,000 is taxed at 10%, paying a total of $1,000. Someone earning $5,000 pays $500, and so on. Meanwhile, someone who earns $25,000 faces a more complicated calculation. The rate on the first $10,000 is 10%, from $10,001 to $20,000 is 20%, and above that is 30%. Thus, they pay $1,000 for the first $10,000 of income (10%), $2,000 for the second $10,000 of income (20%), and $1,500 for the last $5,000 of income (30%), In total, they pay $4,500, or an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paul Martin
Paul Edgar Philippe Martin (born August 28, 1938), also known as Paul Martin Jr., is a Canadian lawyer and politician who served as the 21st prime minister of Canada and the leader of the Liberal Party of Canada from 2003 to 2006. The son of former secretary of state for external affairs Paul Martin Sr., Martin was a lawyer from Ontario before he became president and the chief executive officer of Canada Steamship Lines in 1973. He held that position until his election as a member of Parliament for the Montreal riding of LaSalle—Émard in 1988. Martin unsuccessfully ran for leader of the Liberal Party in 1990, losing to Jean Chrétien. Martin would become Chrétien's longtime rival for the leadership of the party, though was appointed his minister of finance after the Liberal victory in the 1993 federal election. Martin oversaw many changes in the financial structure of the Canadian government, and his policies had a direct effect on eliminating the country's chronic fi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Trust
An income trust is an investment that may hold equities, debt instruments, royalty interests or real properties. They are especially useful for financial requirements of institutional investors such as pension funds, and for investors such as retired individuals seeking yield. The main attraction of income trusts (in addition to certain tax preferences for some investors) is their stated goal of paying out consistent cash flows for investors, which is especially attractive when cash yields on bonds are low. Many investors are attracted by the fact that income trusts are not allowed to make forays into unrelated businesses: if a trust is in the oil and gas business it cannot buy casinos or motion picture studios. The names ''income trust'' and ''income fund'' are sometimes used interchangeably, even though most trusts have a narrower scope than funds. Income trusts are most commonly seen in Canada. The closest analogue in the United States to the business and royalty trusts would be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kelowna Accord
The Kelowna Accord is a series of agreements between the Government of Canada, First Ministers of the Provinces, Territorial Leaders, and the leaders of five national Aboriginal organizations in Canada. The accord sought to improve the education, employment, and living conditions for Aboriginal peoples through governmental funding and other programs. The accord was endorsed by Prime Minister Paul Martin, but was never endorsed by his successor, Stephen Harper. History The agreement resulted from 18 months of roundtable consultations leading up to the First Ministers' Meeting in Kelowna, British Columbia in November 2005 and was described in a paper released at the end of the meeting entitled "First Ministers and National Aboriginal Leaders Strengthening Relationships and Closing the Gap" and a separate press release, issued by the Prime Minister's Office at the close of the Kelowna meetings. The Quebec Aboriginals were not included in this final accord, as they did not particip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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