Federal-Provincial Fiscal Arrangements Act

Marginal note:Amount

• 24.1 (1) The Canada Health Transfer is to consist of

  • (a) a cash contribution equal to

    • (i) $12.65 billion for the fiscal year beginning on April 1, 2004,

    • (ii) $1 billion for the fiscal year beginning on April 1, 2004,

    • (iii) $19 billion for the fiscal year beginning on April 1, 2005,

    • (iv) the product obtained by multiplying the cash contribution for the immediately preceding year by 1.06, rounded to the nearest thousand, for each fiscal year in the period beginning on April 1, 2006 and ending on March 31, 2017, and

    • (v) for each fiscal year beginning after March 31, 2017, the product, rounded to the nearest thousand, obtained by multiplying the cash contribution for the immediately preceding fiscal year by the greater of 1.03, and

      (1 + A)

      where

      A

      is the average of the annual rates of growth of the nominal gross domestic product of Canada for the calendar year that ends during the fiscal year in question and for the two previous calendar years, as determined by the Minister not later than three months before the beginning of that fiscal year; and

  • (b) the portion of the total equalized tax transfer for all provinces that is determined by multiplying the total equalized tax transfer for all provinces by the quotient, rounded to the nearest hundredth, that is obtained by dividing an amount equal to the cash contribution specified in subparagraph (a)(i) by an amount equal to the aggregate of the cash contributions specified in subparagraphs (a)(i) and 24.4(1)(a)(i).

• Marginal note:Meaning of total equalized tax transfer

  (2) In subsection (1), total equalized tax transfer means the total equalized tax transfer as determined in accordance with section 24.7.

• Marginal note:Non-application

  (3) The cash contribution referred to in subparagraph (1)(a)(ii) is not subject to subparagraphs 4(1)(a)(i) to (iii) of the Canada Health Transfer and Canada Social Transfer Regulations.