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CERB
The Government of Canada introduced multiple temporary social security and financial aid programs in response to the economic impacts of the COVID-19 pandemic in Canada. The initial CA$82-billion aid package was announced on March 18, 2020 by Justin Trudeau. The first measures were implemented when the ''COVID-19 Emergency Response Act'' received royal assent from Governor General Julie Payette on March 25, 2020. Modifications to existing programs Existing federal social security programs were modified to provide additional financial support to their recipients. Canada Child Benefit payments were given a one-time increase of $300 per child, the Goods and Services Tax (GST) credit for the 2019 tax year was doubled, and personal income tax deadlines for 2019 were extended. Catherine McKenna, the Minister of Infrastructure and Communities, also announced on April 16 that the federal government was seeking "shovel-ready" infrastructure projects to receive stimulus funding. Incom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic In Canada
The COVID-19 pandemic in Canada is part of the ongoing worldwide pandemic of coronavirus disease 2019 (). It is caused by severe acute respiratory syndrome coronavirus 2 (). Most cases over the course of the pandemic have been in Ontario, Quebec, British Columbia and Alberta. Confirmed cases have been reported in all of Canada's provinces and territories. The virus was confirmed to have reached Canada on January 25, 2020, after an individual who had returned to Toronto from Wuhan, Hubei, China, tested positive. The first case of community transmission in Canada was confirmed in British Columbia on March 5. In March 2020, as cases of community transmission were confirmed, all of Canada's provinces and territories declared states of emergency. Provinces and territories have, to varying degrees, implemented school and daycare closures, prohibitions on gatherings, closures of non-essential businesses and restrictions on entry. Canada severely restricted its border access, barring ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Revenue Agency
The Canada Revenue Agency (CRA; ; ) is the revenue service of the Canadian federal government, and most provincial and territorial governments. The CRA collects taxes, administers tax law and policy, and delivers benefit programs and tax credits. Legislation administered by the CRA includes the ''Income Tax Act,'' parts of the ''Excise Tax Act'', and parts of laws relating to the Canada Pension Plan, employment insurance (EI), tariffs and duties. The agency also oversees the registration of charities in Canada, and enforces much of the country's tax laws. From 1867 to 1999, tax services and programs were administered by the Department of National Revenue, otherwise known as Revenue Canada. In 1999, Revenue Canada was reorganized into the Canada Customs and Revenue Agency (CCRA). In 2003, the Canada Border Services Agency (CBSA) was created out of the CCRA, leading to customs being dropped from the agency's mandate and the agency's current name. The CRA is the largest organiz ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Justin Trudeau
Justin Pierre James Trudeau ( , ; born December 25, 1971) is a Canadian politician who is the 23rd and current prime minister of Canada. He has served as the prime minister of Canada since 2015 and as the leader of the Liberal Party since 2013. Trudeau is the second-youngest prime minister in Canadian history after Joe Clark; he is also the first to be the child or other relative of a previous holder of the post, as the eldest son of Pierre Trudeau. Trudeau was born in Ottawa and attended Collège Jean-de-Brébeuf. He graduated from McGill University in 1994 with a Bachelor of Arts degree in literature, then in 1998 acquired a Bachelor of Education degree from the University of British Columbia. After graduating he taught at the secondary school level in Vancouver, before relocating back to Montreal in 2002 to further his studies. He was chair for the youth charity Katimavik and director of the not-for-profit Canadian Avalanche Association. In 2006, he was appointed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parliament Of Canada
The Parliament of Canada (french: Parlement du Canada) is the federal legislature of Canada, seated at Parliament Hill in Ottawa, and is composed of three parts: the King, the Senate, and the House of Commons. By constitutional convention, the House of Commons is dominant, with the Senate rarely opposing its will. The Senate reviews legislation from a less partisan standpoint and may initiate certain bills. The monarch or his representative, normally the governor general, provides royal assent to make bills into law. The governor general, on behalf of the monarch, summons and appoints the 105 senators on the advice of the prime minister, while each of the 338 members of the House of Commons – called members of Parliament (MPs) – represents an electoral district, commonly referred to as a ''riding'', and are elected by Canadian voters residing in the riding. The governor general also summons and calls together the House of Commons, and may prorogue or dissolve Parliament, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-employed
Self-employment is the state of working for oneself rather than an employer. Tax authorities will generally view a person as self-employed if the person chooses to be recognised as such or if the person is generating income for which a tax return needs to be filed. In the real world, the critical issue for the tax authorities is not whether a person is engaged in a business activity (called "trading" even when referring to the provision of a service) but whether the activity is profitable and therefore potentially taxable. In other words, the activity of trading is likely to be ignored if no profit is present, so occasional and hobby- or enthusiast-based economic activity is generally ignored by the tax authorities. Self-employed people are usually classified as a sole proprietor (or sole trader), independent contractor, or as a member of a partnership. Self-employed people generally find their own work rather than being provided with work by an employer and instead earn income fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Income
In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period. It is computed as the residual of all revenues and gains less all expenses and losses for the period,Stickney, et al. (2009) Financial Accounting: An Introduction to Concepts, Methods, and Uses. Cengage Learning and has also been defined as the net increase in shareholders' equity that results from a company's operations.Needles, et al. (2010) Financial Accounting. Cengage Learning. It is different from gross income, which only deducts the cost of goods sold from revenue. For households and individuals, net income refers to the (gross) income minus taxes and other deductions (e.g. mandatory pension contributions). Definition Net income can be distributed among holders of common stock as a dividend or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic
The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The novel virus was first identified in an outbreak in the Chinese city of Wuhan in December 2019. Attempts to contain it there failed, allowing the virus to spread to other areas of Asia and later worldwide. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern on 30 January 2020, and a pandemic on 11 March 2020. As of , the pandemic had caused more than cases and confirmed deaths, making it one of the deadliest in history. COVID-19 symptoms range from undetectable to deadly, but most commonly include fever, dry cough, and fatigue. Severe illness is more likely in elderly patients and those with certain underlying medical conditions. COVID-19 transmits when people breathe in air contaminated by droplets and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unemployment Benefits
Unemployment benefits, also called unemployment insurance, unemployment payment, unemployment compensation, or simply unemployment, are payments made by authorized bodies to unemployment, unemployed people. In the United States, benefits are funded by a compulsory governmental insurance system, not taxes on individual citizens. Depending on the jurisdiction and the status of the person, those sums may be small, covering only basic needs, or may compensate the lost time proportionally to the previous earned salary. Unemployment benefits are generally given only to those registering as becoming unemployed through no fault of their own, and often on conditions ensuring that they seek work. In British English unemployment benefits are also colloquially referred to as "the dole"; receiving benefits is informally called "being on the dole". "Dole" here is an archaic expression meaning "one's allotted portion", from the synonymous Old English word ''dāl''. History The first modern u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Interest
In finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs. For example, a customer would usually pay interest to borrow from a bank, so they pay the bank an amount which is more than the amount they borrowed; or a customer may earn interest on their savings, and so they may withdraw more than they originally deposited. In the case of savings, the customer is the lender, and the bank plays the role of the borrower. Interest diff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carla Qualtrough
Carla Dawn Qualtrough (; born October 15, 1971) is a Canadian politician and former Paralympic swimmer who is the minister of employment, workforce development and disability inclusion since 2019. Qualtrough has sat as the member of Parliament (MP) for Delta since she was first elected in 2015, as a member of the Liberal Party. She served as minister of public services and procurement and accessibility from 2017 to 2019, and minister of sport and persons with disabilities from 2015 to 2017. Early life and education Qualtrough was born in Calgary, Alberta, on October 15, 1971, to parents Patricia and Harry Qualtrough, and was raised in Langley, British Columbia. Qualtrough has been visually impaired since birth and only sees 10 percent with her glasses on. She graduated from Brookswood Secondary School and studied political science at the University of Ottawa before earning a law degree from the University of Victoria in 1997. Her parents separated when she was a teenager and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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