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April 1978 Canadian Federal Budget
The Canadian federal budget for fiscal year 1978–1979 presented by Minister of Finance Jean Chrétien in the House of Commons of Canada on 10 April 1978. It is the fifth budget of the 30th Parliament and the first presented by Jean Chrétien. Taxes Personal income taxes The most important element of the budget is retirement savings reform. Prior to the budget, RRSP owners who turned 71 were forced to either:p. 11 * Invest the proceeds for the RRSP plan in a life annuity; * Have the proceeds withdrawn in a lump-sum and included in the taxpayer's taxable income. Starting on the day of the budget speech, two additional options were provided: * RRSP could be rolled over tax free in a Registered Retirement Income Fund (RRIF) a newly-created investment vehicle with minimum yearly withdrawals to take until age 90. * Fixed-term annuity up to age 90 could be acquired instead of life annuities. The conversion of the RRSP into annuities or RRIF must occur between ages 60 and 70 (inclu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
30th Canadian Parliament
The 30th Canadian Parliament was in session from September 30, 1974, until March 26, 1979. The membership was set by the 1974 election on July 8, 1974, and was only changed somewhat due to resignations and by-elections before it was dissolved prior to the 1979 election. It was controlled by a Liberal Party majority led by Prime Minister Pierre Trudeau and the 20th Canadian Ministry. The Official Opposition was the Progressive Conservative Party, led first by Robert Stanfield, and then by Joe Clark. The sessions were prorogued (reason unknown currently). The Speaker was James Jerome. See also the List of Canadian electoral districts 1966-1976 for a list of the ridings in this parliament. There were four sessions of the 30th Parliament: Party standings The party standings as of the election and as of dissolution were as follows: Members of the House of Commons Members of the House of Commons in the 30th parliament arranged by province. Newfoundland Prince Edward ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberal Party Of Canada
The Liberal Party of Canada (french: Parti libéral du Canada, region=CA) is a federal political party in Canada. The party espouses the principles of liberalism,McCall, Christina; Stephen Clarkson"Liberal Party". ''The Canadian Encyclopedia''. and generally sits at the centre to centre-left of the Canadian political spectrum, with their rival, the Conservative Party, positioned to their right and the New Democratic Party, who at times aligned itself with the Liberals during minority governments, positioned to their left. The party is described as "big tent",PDF copy at UBC Press. practising "brokerage politics", attracting support from a broad spectrum of voters. The Liberal Party is the longest-serving and oldest active federal political party in the country, and has dominated federal |
Jean Chrétien
Joseph Jacques Jean Chrétien (; born January 11, 1934) is a Canadian lawyer and politician who served as the 20th prime minister of Canada from 1993 to 2003. Born and raised in Shawinigan Falls, Quebec, Chrétien is a law graduate from Université Laval. A Liberal, he was first elected to the House of Commons in 1963. He served in various cabinet posts under Prime Minister Pierre Trudeau, most prominently as minister of Indian affairs and northern development, president of the Treasury Board, minister of finance, and minister of justice. He ran unsuccessfully for the leadership of the Liberal Party in 1984, losing to John Turner. Chrétien served as the second deputy prime minister of Canada in Turner's short-lived government which would be defeated in the 1984 federal election. After Turner led the Liberals to their second defeat at the polls in 1988, Chrétien became leader of the Liberals and leader of the Opposition in 1990, returning to politics after briefly worki ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minister Of Finance (Canada)
The minister of finance (french: ministre des Finances) is the minister of the Crown in the Canadian Cabinet who is responsible for overseeing the Department of Finance and presenting the federal government's budget each year. It is one of the most important positions in the Cabinet. Chrystia Freeland serves as the 40th and current finance minister, assuming the role in August 2020 following the resignation of Bill Morneau. She concurrently serves as the deputy prime minister of Canada. Because of the prominence and responsibility of this cabinet position, it is not uncommon for former ministers of finance to later become prime minister. Charles Tupper, R. B. Bennett, John Turner, Jean Chrétien, and Paul Martin all became prime minister after previously serving as minister of finance. Responsibilities In addition to being the head of the Department of Finance, the minister of finance is also the minister responsible for: *Bank of Canada *Canada Deposit Insurance Corpor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Commons Of Canada
The House of Commons of Canada (french: Chambre des communes du Canada) is the lower house of the Parliament of Canada. Together with the Crown and the Senate of Canada, they comprise the bicameral legislature of Canada. The House of Commons is a democratically elected body whose members are known as members of Parliament (MPs). There have been 338 MPs since the most recent electoral district redistribution for the 2015 federal election, which saw the addition of 30 seats. Members are elected by simple plurality ("first-past-the-post" system) in each of the country's electoral districts, which are colloquially known as ''ridings''. MPs may hold office until Parliament is dissolved and serve for constitutionally limited terms of up to five years after an election. Historically, however, terms have ended before their expiry and the sitting government has typically dissolved parliament within four years of an election according to a long-standing convention. In any case, an ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Cost Allowance
Capital Cost Allowance (CCA) is the means by which Taxation in Canada, Canadian businesses may claim depreciation expense for calculating taxable income under the ''Income Tax Act'' (Canada). Similar allowances are in effect for calculating taxable income for provincial purposes. General rules for CCA calculation Capital property Capital property eligible for CCA excludes: * land * property the cost of which is deductible in computing the taxpayer's income * property that is described in the taxpayer's inventory * property that was not acquired for the purpose of gaining or producing income * property that was acquired by an expenditure in respect of which the taxpayer is allowed a deduction under section 37 * specified artwork and crafts acquired after November 12, 1981 * property that is a camp, yacht, lodge or golf course or facility acquired after December 31, 1974 if any outlay or expense for the use or maintenance of that property is not deductible by virtue of paragraph 18( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
René Lévesque
René Lévesque (; August 24, 1922 – November 1, 1987) was a Québécois politician and journalist who served as the 23rd premier of Quebec from 1976 to 1985. He was the first Québécois political leader since Confederation to attempt, through a referendum, to negotiate the political independence of Quebec. Starting his career as a reporter, and radio and television host, he later became known for his eminent role in Quebec's nationalization of hydro, and as an ardent defender of Quebec sovereignty. He was the founder of the Parti Québécois, and before that, a Liberal minister in the Lesage government from 1960 to 1966. Early life Lévesque was born in the Hôtel Dieu Hospital in Campbellton, New Brunswick, on August 24, 1922. He was raised in New Carlisle, Quebec, on the Gaspé Peninsula, by his parents, Diane (née Dionne) and Dominic Lévesque, a lawyer. He had three siblings, André, Fernand and Alice. His father died when Lévesque was 14 years old. Journalis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Assembly Of Quebec
The National Assembly of Quebec (officially in french: link=no, Assemblée nationale du Québec) is the legislative body of the province of Quebec in Canada. Legislators are called MNAs (Members of the National Assembly; french: link=no, députés). The King in Right of Quebec, represented by the Lieutenant Governor of Quebec and the National Assembly compose the Legislature of Quebec, which operates in a fashion similar to those of other Westminster-style parliamentary systems. The assembly has 125 members elected first past the post from single-member districts. The National Assembly was formerly the lower house of Quebec's legislature and was then called the Legislative Assembly of Quebec. In 1968, the upper house, the Legislative Council, was abolished and the remaining house was renamed. The office of President of the National Assembly is equivalent to speaker in other legislatures. As of the 2022 Quebec general election, Coalition Avenir Québec has the most seats ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Budgets
Canadians (french: Canadiens) are people identified with the country of Canada. This connection may be residential, legal, historical or cultural. For most Canadians, many (or all) of these connections exist and are collectively the source of their being ''Canadian''. Canada is a multilingual and multicultural society home to people of groups of many different ethnic, religious, and national origins, with the majority of the population made up of Old World immigrants and their descendants. Following the initial period of French and then the much larger British colonization, different waves (or peaks) of immigration and settlement of non-indigenous peoples took place over the course of nearly two centuries and continue today. Elements of Indigenous, French, British, and more recent immigrant customs, languages, and religions have combined to form the culture of Canada, and thus a Canadian identity. Canada has also been strongly influenced by its linguistic, geographic, and e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1978 In Canadian Law
Events January * January 1 – Air India Flight 855, a Boeing 747 passenger jet, crashes off the coast of Bombay, killing 213. * January 5 – Bülent Ecevit, of CHP, forms the new government of Turkey (42nd government). * January 6 – The Holy Crown of Hungary (also known as Stephen of Hungary Crown) is returned to Hungary from the United States, where it was held since World War II. * January 10 – Pedro Joaquín Chamorro Cardenal, a critic of the Nicaraguan government, is assassinated; riots erupt against Somoza's government. * January 18 – The European Court of Human Rights finds the British government guilty of mistreating prisoners in Northern Ireland, but not guilty of torture. * January 22 – Ethiopia declares the ambassador of West Germany ''persona non grata''. * January 24 ** Soviet satellite Kosmos 954 burns up in Earth's atmosphere, scattering debris over Canada's Northwest Territories. ** Rose Dugdale and Eddie Gallagher become the first convicted priso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
