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Federal-Provincial Fiscal Arrangements Act

Version of section 24.5 from 2003-06-19 to 2007-06-21:


Marginal note:Provincial share

 The cash contribution established under paragraph 24.4(1)(a) that may be provided to a province for each of the fiscal years mentioned in that paragraph is the amount determined by the formula

F x (K/L) - M

where

F
is the total of the amounts established under paragraphs 24.4(1)(a) and (b) for the fiscal year;
K
is the population of the province for the fiscal year;
L
is the total of the population of all provinces for the fiscal year; and
M
is the amount obtained by multiplying the total equalized tax transfer for the province as determined in accordance with subsection 24.7(1) by the quotient, rounded to the nearest hundredth, that is obtained by dividing an amount equal to the cash contribution specified in subparagraph 24.4(1)(a)(i) by an amount equal to the aggregate of the cash contributions specified in subparagraphs 24.1(1)(a)(i) and 24.4(1)(a)(i).
  • 2003, c. 15, s. 8
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