Federal-Provincial Fiscal Arrangements Act

Marginal note:Amount

• 24.4 (1) The Canada Social Transfer is to consist of

  • (a) a cash contribution of

    • (i) $7.75 billion for the fiscal year beginning on April 1, 2004,

    • (ii) $150 million for the fiscal year beginning on April 1, 2004,

    • (iii) $8.225 billion for the fiscal year beginning on April 1, 2005,

    • (iv) $8.5 billion for the fiscal year beginning on April 1, 2006,

    • (v) $9.487 billion for the fiscal year beginning on April 1, 2007,

    • (vi) $10.537 billion for the fiscal year beginning on April 1, 2008, and

    • (vii) the product obtained by multiplying the cash contribution for the immediately preceding fiscal year by 1.03, rounded to the nearest thousand, for each fiscal year beginning after March 31, 2009.

  • (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 24.1(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.