Federal Revenues and Ependitures

The federal government spends around 27% of it's total budget against interest charges, and the remaining 73% is used to support all federal government.

The 3 largest program expenditures of the federal government are National Defence, Other, Solicitor General, and Public Works.



Currency Conversions

Bank Buying - bank buy's foreign currency from you

Bank Selling - bank sells foreign currency to you



The difference in the bank buying and bank selling is that the bank can make a profit for providing the service of exchanging currency.



Importing Foreign Goods

Importing - bringing something across a national border, into a country.

Exporting - sending something across a national border out of a country.



Kinds of countries -

North American Free Trade Agreement (N.A.F.A)

Most favourite Nation (M.F.N.)

General Preferential (G.P.)



Customs Duties - paid at border to a government for bringing goods across.

Excise Taxes - another form of payment required paid to government for brining luxury across a border.



5 Steps

1. Convert to canadian

2.Duty (if applicable) on goods. Added to canadian conversion

3.Excise Taxes (if applicable).

4.GST ( on the sum of 1+2+3) 6% on tax
5.Add (1+2+3+4=5)

Provincial Revenues and Expenditures
Corporation Capital Tax is a tax on the annual paid - up capitial of corporations which have a permanent establishment in manitoba.
Gasoline tax has a provincial tax of 11.5 cents /L.. and diesel fuel has a provincial tax of 10.9cents/L
Tabacco Taxs 8 cents per cigarettes. Looose tabacco 5.3 cents per gram.

Municipal Revenues and Expenditures
Total Revenue Required
Property Tax Rate= ____________________
Total Portioned Assesment
Portioned Assesment = Market Value Assesment x portion Percentage

Factors that influence market value; age, location, size, landscaping, driveway, out buildings.

Statement and Demand for Taxes
Total Portioned Assesment
General Municipal Tax= ----------------------------------------- x Municipal Mill Rate
1000

Two factors influencing how much your property taxes are:
1. assed value of property
2. local rate of taxation ( mill rate)