More Economic Action Fail
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You can call it feces, or dung or scat, but it's still ****, like the stuff between your ears petros
Is that so? Tax credits are now subsidies? Is up down now too?
Poor, brain dead bastards.
Eliminating Fossil Fuel Subsidies | Canada's Economic Action Plan
Some days this forum just oozes derp.
A subsidy is financial support...grants, tax breaks, there's all sorts of methods to give financial assistance. Even on the Economic Action Plan page they describe tax deductions as subsidies. A rose by any other name...
I think Derpy has a crush on you MF.
Through Canada’s Economic Action Plan, the Government is committed to improving the fairness and neutrality of the tax system across sectors of the economy and to supporting the commitment by G-20 Leaders to rationalize and phase out over the medium term inefficient fossil fuel subsidies.
About the Initiative
With the oil sands sector vibrant and growing, Budget 2007 announced the phase-out of the accelerated capital cost allowance for tangible capital assets in the sector. Budget 2011 built on this change by announcing a reduction in the deduction rates for tax purposes for intangible capital expenses in oil sands projects to align them with the rates applicable in the conventional oil & gas sector:
The costs of oil sands leases or other oil sands resource property, which could previously be treated as Canadian Development Expense (deductible at a rate of 30% per year on a declining balance basis) are now treated as Canadian Oil and Gas Property Expense (deductible at a rate of 10% per year on a declining balance basis).
Pre-production development expenses incurred for the purpose of bringing a new oil sands mine into production are treated as Canadian Exploration Expense (100% deductible in the year incurred). These expenses will start to be treated as Canadian Development Expense on a gradual basis over the 2013 to 2016 period. In recognition of the long time frames involved in developing oil sands mining projects, transitional relief is provided and the Canadian Exploration Expense treatment will be maintained for expenditures incurred before 2015 on grandfathered projects.
Initiative Update
Bill C-13, the Keeping Canada’s Economy and Jobs Growing Act, which implemented these legislative changes, received Royal Assent on December 15, 2011.
Find Out More
For more information, please visit the Department of Finance Canada website.
About the Initiative
With the oil sands sector vibrant and growing, Budget 2007 announced the phase-out of the accelerated capital cost allowance for tangible capital assets in the sector. Budget 2011 built on this change by announcing a reduction in the deduction rates for tax purposes for intangible capital expenses in oil sands projects to align them with the rates applicable in the conventional oil & gas sector:
The costs of oil sands leases or other oil sands resource property, which could previously be treated as Canadian Development Expense (deductible at a rate of 30% per year on a declining balance basis) are now treated as Canadian Oil and Gas Property Expense (deductible at a rate of 10% per year on a declining balance basis).
Pre-production development expenses incurred for the purpose of bringing a new oil sands mine into production are treated as Canadian Exploration Expense (100% deductible in the year incurred). These expenses will start to be treated as Canadian Development Expense on a gradual basis over the 2013 to 2016 period. In recognition of the long time frames involved in developing oil sands mining projects, transitional relief is provided and the Canadian Exploration Expense treatment will be maintained for expenditures incurred before 2015 on grandfathered projects.
Initiative Update
Bill C-13, the Keeping Canada’s Economy and Jobs Growing Act, which implemented these legislative changes, received Royal Assent on December 15, 2011.
Find Out More
For more information, please visit the Department of Finance Canada website.
Some days this forum just oozes derp.
A subsidy is financial support...grants, tax breaks, there's all sorts of methods to give financial assistance. Even on the Economic Action Plan page they describe tax deductions as subsidies. A rose by any other name...
I think Derpy has a crush on you MF.
I really question the ability to count the # of jobs at any given time in the country. Do those include the # of "under the table" jobs? I'd bet not!
sub·si·dy
ˈsəbsidē/
noun
noun: subsidy; plural noun: subsidies
1.
a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
"a farm subsidy"
a sum of money granted to support an arts organization or other undertaking held to be in the public interest.
a grant or contribution of money.
synonyms: grant, allowance, endowment, contribution, donation, bursary, handout; More
2.
historical
a parliamentary grant to the sovereign for state needs.
a tax levied on a particular occasion.
tax cred·it
noun
noun: tax credit; plural noun: tax credits
an amount of money that can be offset against a tax liability.
Brain dead.
brain-dead
adjective
adjective: brain-dead; adjective: braindead
having suffered brain death.
"brain-dead patients
ˈsəbsidē/
noun
noun: subsidy; plural noun: subsidies
1.
a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive.
"a farm subsidy"
a sum of money granted to support an arts organization or other undertaking held to be in the public interest.
a grant or contribution of money.
synonyms: grant, allowance, endowment, contribution, donation, bursary, handout; More
2.
historical
a parliamentary grant to the sovereign for state needs.
a tax levied on a particular occasion.
tax cred·it
noun
noun: tax credit; plural noun: tax credits
an amount of money that can be offset against a tax liability.
Brain dead.
brain-dead
adjective
adjective: brain-dead; adjective: braindead
having suffered brain death.
"brain-dead patients
Transfer payments to Ontario and Quebec and EI so their citizens do not have to go where the jobs are but can live off the workers inthe west.
He truly is a sore loser.
Considering we've been spending like a gravy train, yet making cuts to things that are actually important, you can clearly see where the money is going here.
Every free market, anti-government, capitalist thug in this country is a massive hypocrite.
I'm sorry.
I must have interpreted the failed agenda of 'Eliminating Subsidies' from the Cons own website as a failed attempt at eliminating subsidies.
I must have interpreted the failed agenda of 'Eliminating Subsidies' from the Cons own website as a failed attempt at eliminating subsidies.
Depends how you define subsidies. Apparently to some of the business illiterate companies not paying taxeson expenses is a subsidy. pretty much all government spending outside of infrastructure and the military could be considered a subsidy to the receiver.
The usual suspects will never 'get it' nor do they want to.... Clinging to the thinnest of straws that somehow a tax break equates to a bag of cash makes me really wonder how many times buddy was accidentally dropped on their head as a kid
Most people don't. Many don't know what a T1 is and what the actual rules are too.
Going to H&R Block for your T2 is like going to McDonald's for diet advice. Lol.