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The GST, which is administered by Canada Revenue Agency (CRA), replaced a previous hidden 13.5% manufacturers' sales tax (MST). Introduced at an original rate of 7%, the GST rate has been lowered twice and currently sits at rate of 5%, since January 1, 2008. The GST raised 11.7% of total federal government revenue in 2017–2018. [2]
The Q4'16–17 rate was 6.1% as against a forecast of 7.1% by economists. [151] The rate for the financial year 2016–17 was 7.1%, a reduction from the 8% in 2015–16. [152] This drop was attributed to demonetisation by economists. [153] The GDP growth rate for Q1'17–18 dropped to 5.7%, compared to 7.9% a year prior, [154] the lowest since ...
A loan waiver is the waiving of the real or potential liability of the person or party who has taken out a loan through the voluntary action of the person or party who has made the loan. [1] Examples of loan waivers include the Stafford Loan Forgiveness program in the United States and the Agricultural Debt Waiver and Debt Relief Scheme in India
The government under President Mauricio Macri announced to be seeking a new loan from the International Monetary Fund in order to avoid another economic crash similar to the one in 2001. [169] The May 2018 announcement comes at a time of high inflation and falling interest rates. [169] The loan would reportedly be worth $30 billion. [170]
Hebrew Free Loan societies (such a society is also known as a Gemach) are based on the biblical injunction that Jews may not charge interest to other Jews in need, found in Exodus 22:25: "If you lend money to My people, to the poor among you, do not act towards them as a creditor; exact no interest from them."
In April 1994, interest rates in Canada started a steady rise that would continue until early 1995. [102] Chrétien in 1996. Chrétien was not keen on making deep cuts to government spending, but given the crisis caused by the skyrocketing interest rates had decided "reluctantly" there was no alternative. [143]
Since confederation in 1867 through to the contemporary era, decadal and demi-decadal census reports in Canada have compiled detailed immigration statistics. During this period, the highest annual immigration rate in Canada occurred in 1913, when 400,900 new immigrants accounted for 5.3 percent of the total population, [1] [2] while the greatest number of immigrants admitted to Canada in ...
Hindus in Canada are generally Indian immigrants (mainly Punjabi, Gujarati, and Haryanvi) from India who began arriving in British Columbia about 100 years ago and continue to immigrate today. There is a significant number of Sri Lankan Tamil Hindus in Canada who immigrated from Sri Lanka during the 1983 communal riots in Sri Lanka.