Which of the following best explains the essence of Canada's system of fiscal federalism?
A)the constitutional delegation of fiscal responsibilities between federal,provincial,territorial and municipal governments
B)the law that determines the formula for Canada's system of equalization payments
C)the coordination on taxing and spending that is necessary between the federal,provincial,territorial and municipal governments to meet the needs of all Canadian residents
D)the division of powers between the federal government and the provincial governments
E)the coordination necessary for joint collection of federal and provincial income taxes

Question

Quizplus · Accepted Answer

Fiscal federalism in Canada involves the coordination of taxing and spending responsibilities across different levels of government to ensure that the needs of all Canadian residents are met effectively.

Which of the Following Best Explains the Essence of Canada's