April 10, 1957 (22nd Parliament, 5th Session)

PC

John Angus MacLean

Progressive Conservative

Mr. MacLean:

1. Have any payments been made to any provinces under the 1952 tax rental agreements, during the quarter ending March 31, 1957?
2. If so, what was the amount in each case?
3. What was the total amount actually paid to the government of Prince Edward Island under the 1952 tax rental agreement, during the fiscal year 1956-57?
4. Is any further amount still due to the government of Prince Edward Island under the 1952 agreement?
Answer by: Hon. W. E. Harris (Minister of
Finance):
1. Yes.
2. While no payments are due in the quarter ending March 31, 1957, as some provinces wished to take part at least of any amounts outstanding to revenue in the 1956-57 fiscal year, advance payments on account were made pending the receipt of the certificate of the dominion statistician on which the terminal payments due by April 30, 1957, are required to be based.
These advances were made as of March 31, 1957, as follows:
Newfoundland $ 3,000,000
Nova Scotia 5,500,000
New Brunswick 3,600,000
Ontario 42,000,000
Manitoba 5,800,000
Saskatchewan 5,500,000
Alberta 10,300,000
British Columbia 17,500,000

3. Prince Edward Island was paid the following quarterly instalments in 1956-57:
June 30, 1956 (including adjustment of $50,450.28 for
1955-56) $1,091,429.75
September 30, 1956 $1,040,979.47
December 31, 1956 $1,040,979.47
Under the terms of the tax rental agreement no payment is required to be made in the fourth quarter pending recalculation of the payments completed during the life of the agreement. The amount that normally would be due (in this case $1,040,979.47) is in effect increased or decreased by the amount of the final adjustment.
4. This cannot be finally determined pending the receipt of the certificate of the dominion statistician, as required by the agreement. Information available, however, would indicate that no further payment is due the province.
82715-215J

Thursday, April 11, 1957

Topic:   TAX RENTAL AGREEMENT PAYMENTS
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