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Territorial Formula Financing
Territorial Formula Financing (TFF) is an annual unconditional transfer payment from Canada's federal government to the three territorial governments of Yukon, the Northwest Territories, and Nunavut to support the provision of public services. A significant portion of the financial resources of the territorial governments comes from the Canadian federal government through the TFF grant. For instance, during the 2005–06 fiscal year, TFF was approximately 61 per cent of Yukon's, 66 per cent of the Northwest Territories' and 81 per cent of Nunavut's total financial resources. In the 2023-24 fiscal year A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many ..., Yukon will receive $1.252 billion ($28,208 per capita), the Northwest Territories $1,611 billion ($37,073 per capita) and Nunavu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transfer Payment
In macroeconomics and finance, a transfer payment (also called a government transfer or simply transfer) is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. Examples of transfer payments include welfare, financial aid, social security, and government subsidies for certain businesses. Unlike the exchange transaction which mutually benefits all the parties involved in it, the transfer payment consists of a donor and a recipient, with the donor giving up something of value without receiving anything in return. Transfers can be made both between individuals and entities, such as private companies or governmental bodies. These transactions can be both voluntary or involuntary and are generally motivated either by the altruism of the donor or the malevolence of the recipient. For the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by total area. Its southern and western border with the United States, stretching , is the world's longest binational land border. Canada's capital is Ottawa, and its three largest metropolitan areas are Toronto, Montreal, and Vancouver. Indigenous peoples have continuously inhabited what is now Canada for thousands of years. Beginning in the 16th century, British and French expeditions explored and later settled along the Atlantic coast. As a consequence of various armed conflicts, France ceded nearly all of its colonies in North America in 1763. In 1867, with the union of three British North American colonies through Confederation, Canada was formed as a federal dominion of four provinces. This began an accretion of provinces an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Government
The government of Canada (french: gouvernement du Canada) is the body responsible for the federal administration of Canada. A constitutional monarchy, the Crown is the corporation sole, assuming distinct roles: the executive, as the ''Crown-in-Council''; the legislature, as the ''Crown-in-Parliament''; and the courts, as the ''Crown-on-the-Bench''. Three institutions—the Privy Council ( conventionally, the Cabinet); the Parliament of Canada; and the judiciary, respectively—exercise the powers of the Crown. The term "Government of Canada" (french: Gouvernement du Canada, links=no) more commonly refers specifically to the executive—ministers of the Crown (the Cabinet) and the federal civil service (whom the Cabinet direct)—which corporately brands itself as the ''Government of Canada'', formally known as '' Majesty's Government'' (french: Gouvernement de Sa Majesté, links=no). There are over one hundred ministries, departments and crown corporations and over 300,000 per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yukon
Yukon (; ; formerly called Yukon Territory and also referred to as the Yukon) is the smallest and westernmost of Canada's three territories. It also is the second-least populated province or territory in Canada, with a population of 43,964 as of March 2022. Whitehorse, the territorial capital, is the largest settlement in any of the three territories. Yukon was split from the North-West Territories in 1898 as the Yukon Territory. The federal government's ''Yukon Act'', which received royal assent on March 27, 2002, established Yukon as the territory's official name, though ''Yukon Territory'' is also still popular in usage and Canada Post continues to use the territory's internationally approved postal abbreviation of ''YT''. In 2021, territorial government policy was changed so that “''The'' Yukon” would be recommended for use in official territorial government materials. Though officially bilingual (English and French), the Yukon government also recognizes First Natio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Northwest Territories
The Northwest Territories (abbreviated ''NT'' or ''NWT''; french: Territoires du Nord-Ouest, formerly ''North-Western Territory'' and ''North-West Territories'' and namely shortened as ''Northwest Territory'') is a federal territory of Canada. At a land area of approximately and a 2016 census population of 41,790, it is the second-largest and the most populous of the three territories in Northern Canada. Its estimated population as of 2022 is 45,605. Yellowknife is the capital, most populous community, and only city in the territory; its population was 19,569 as of the 2016 census. It became the territorial capital in 1967, following recommendations by the Carrothers Commission. The Northwest Territories, a portion of the old North-Western Territory, entered the Canadian Confederation on July 15, 1870. Since then, the territory has been divided four times to create new provinces and territories or enlarge existing ones. Its current borders date from April 1, 1999, when the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nunavut
Nunavut ( , ; iu, ᓄᓇᕗᑦ , ; ) is the largest and northernmost Provinces and territories of Canada#Territories, territory of Canada. It was separated officially from the Northwest Territories on April 1, 1999, via the ''Nunavut Act'' and the ''Nunavut Land Claims Agreement, Nunavut Land Claims Agreement Act'', which provided this territory to the Inuit for independent government. The boundaries had been drawn in 1993. The creation of Nunavut resulted in the territorial evolution of Canada, first major change to Canada's political map in half a century since the province of Newfoundland and Labrador, Newfoundland was admitted in 1949. Nunavut comprises a major portion of Northern Canada and most of the Arctic Archipelago. Its vast territory makes it the list of the largest country subdivisions by area, fifth-largest country subdivision in the world, as well as North America's second-largest (after Greenland). The capital Iqaluit (formerly Frobisher Bay), on Baffin Islan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Services
A public service is any Service (economics), service intended to address specific needs pertaining to the aggregate members of a community. Public services are available to people within a government jurisdiction as provided directly through public sector agencies or via public financing to private businesses or voluntary organizations (or even as provided by family households, though terminology may differ depending on context). Other public services are undertaken on behalf of a government's residents or in the interest of its citizens. The term is associated with a social consensus (usually expressed through democratic elections) that certain services should be available to all, regardless of income, physical ability or intelligence, mental acuity. Examples of such services include the fire brigade, police, air force, and paramedics (see also public service broadcasting). Even where public services are neither publicly provided nor Public finance, publicly financed, they are u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Territories Of Canada
Within the geographical areas of Canada, the ten provinces and three territories are sub-national administrative divisions under the jurisdiction of the Canadian Constitution. In the 1867 Canadian Confederation, three provinces of British North America—New Brunswick, Nova Scotia, and the Province of Canada (which upon Confederation was divided into Ontario and Quebec)—united to form a federation, becoming a fully independent country over the next century. Over its history, Canada's international borders have changed several times as it has added territories and provinces, making it the world's second-largest country by area. The major difference between a Canadian province and a territory is that provinces receive their power and authority from the ''Constitution Act, 1867'' (formerly called the ''British North America Act, 1867''), whereas territorial governments are creatures of statute with powers delegated to them by the Parliament of Canada. The powers flowing from th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiscal Year
A fiscal year (or financial year, or sometimes budget year) is used in government accounting, which varies between countries, and for budget purposes. It is also used for financial reporting by businesses and other organizations. Laws in many jurisdictions require company financial reports to be prepared and published on an annual basis but generally not the reporting period to align with the calendar year (1 January to 31 December). Taxation laws generally require accounting records to be maintained and taxes calculated on an annual basis, which usually corresponds to the fiscal year used for government purposes. The calculation of tax on an annual basis is especially relevant for direct taxes, such as income tax. Many annual government fees—such as council tax and license fees, are also levied on a fiscal year basis, but others are charged on an anniversary basis. Some companies, such as Cisco Systems, end their fiscal year on the same day of the week each year: the day ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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