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Quebec's high provincial taxes account for its budget surplus, although without equalization Quebec would have had a deficit. [28] Quebec residents pay the highest provincial tax in the country but the lowest federal tax. [41] Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42]
Until the 2009–2010 fiscal year, Ontario was the only province to have never received equalization payments; in 2009-2010 Ontario received 347 million dollars, [7] while Newfoundland, which has received payments since the program's creation, is now a so-called "have" province, and is now a net contributor and does not receive payments.
The provincial GDP in 2021 was C$504,5 billion, [ 9] making Quebec the second largest economy in Canada after Ontario. The provincial debt-to-GDP ratio peaked at 50.7% in fiscal year 2012–2013, is now resting at 38.1 in 2022, [ 10] and is projected to decline to 34% in 2023–2024. [ 11]
As of the 2021 Canadian census, the population of Quebec was 8,501,833, the land area was 1,298,599.75 km 2 (501,392.17 sq mi) and the population density was 6.54 inhabitants per square kilometre (16.9/sq mi). [1]
Tax revenues. The Government of Canada collects about $5 billion per year in excise taxes on gasoline, diesel, and aviation fuel [ 21] as well as approximately $1.6 billion per year from GST revenues on gasoline and diesel (net of input tax credits). The Canada Revenue Agency, a part of the government, collects these taxes.
The economy of Ontario is diversified. Ontario is the largest economy in Canada, making up around 38% of Canadian GDP. [1] [2] Though manufacturing plays an important role in Ontario's economy responsible for 12.6% of Ontario's GDP, the service sector makes up the bulk, 77.9%, of the economy. [3] Ontario's net debt-to-GDP ratio will rise to 40. ...
Atlantic. UTC−04:00. UTC−03:00. Atlantic. UTC−03:30. UTC−02:30. Newfoundland. Canada is divided into six time zones. Most areas of the country's provinces and territories operate on standard time from the first Sunday in November to the second Sunday in March and daylight saving time the rest of the year.
However, the province's language law does provide for limited services in English. As well, the province is obliged, under Section 133 of the Constitution Act, 1867, to allow the provincial legislature to operate in both French and English, and to allow all Quebec courts to operate in both languages. Section 23 of the Charter applies to Quebec ...
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