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What Does Canada FPT Stand For?

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No matter what country you are from each bank has a “referral code” that is unique to their institution. It is usually just a number identifying the specific financial institution to ensure that there are no mix-ups when it comes to transferring funds.

In addition to the identifying markers for the bank, the code may also include the specific branch from which it comes. Canada has its own specific code for certain accounts known as FPT.

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What is it?

FPT is a simple acronym that Canadian financial institutions used for certain accounts they manage. The letters stand for Federal-Provincial-Territorial. While there are codes that identify banks that are run by independent companies, but this is a code used almost exclusive papers and transactions that are connected with Canada’s governing body.

If a person holding an account sees the letters FPT as a ‘sending source code,’ it usually means the Canadian government made the transfer into the account. For clarity’s sake, we’ll further refer FPT as a ‘reference code.’

Canadian Government Payments

One of the reasons FPT is great for Canada is its ease of use when it comes to the government distributing payment to its citizens. When a government payment is deposited directly into an individual account, this is made evident by the FPT acronym. Many programs are designed with it, but the two programs most commonly associated with the reference code are the rebates for low-income families sourced by the GST (goods and services tax) and what is known as the ‘Baby Bonus’ program.

GST Rebates

The Excise Tax Act defines the GST as a tax “levied on supplies of goods and services purchased in Canada and includes most products, except certain politically sensitive essentials such as groceries, residential rent, and medical services, and services such as financial services.”

Other things exempt from this tax may include baby supplies and most exports that leave Canada. When it comes to a person from outside of Canada (nonresident) selling to Canadian residents, a 5% GST is placed on their goods services that do not fall under ‘zero-rated.’

Anyone with products that fall into the taxable side will need to gather and submit the registration for said tax. It’s really the consumer paying for this tax because it is applied to respective products at every stage along with manufacturing and distribution.

As mentioned above, low-income families that satisfy the proper conditions and submit paperwork will receive a government rebate paid by the Canadian government and marked FPT.

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For any Americans or others still confused, it’s a little like our ‘value-added’ sales tax, a hidden charge usually made to help recoup certain costs incurred by the company’s operation.

“Baby Bonuses”

The program, known commonly by the above name was first proposed after World War II had ended. It began paying families $5 to $8 per month to any parent with a child under the age of 16.

The province of Quebec introduced its own program in 1988. The Allowance for Newborn Children gave families with newborn children a stipend of $8,000 to help with the cost of raising a child in the first few weeks.

The blanket tax credit went by the name of the Child Tax Benefit, introduced by Don Mazankowski in 1992 then later replaced with the Canada Child Tax Benefit introduced by Paul Martin in 1997.

It was finally replaced with its final interation, the Canada Child Benefit, in 2016. This is “a tax-free payment of $533 per child under 6 and $450 per child from 6 to 17. Which is reduced at various rates by the number of children and the amount of money the household makes so that households at the top end of “middle-class” and “high-class income” get nothing.”

The United States has similar cash aid programs, but are severely restricted. For example, if you have a child born next month and you have another a year and a half later, only the first child will be covered by the cash assistance.

Here applicants are informed that they will only receive 48 months of cash assistance. But at least they’ll be covered till they reach 18 years, right?


The government is always marked with the acronym, but some banks may use ‘Canada FPT’ or ‘FPT’ depending on the institution.

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FPT in Other Contexts

Many documents that pass over the desks of Canadian government staff are also marked FPT but are also used by the National Disaster Mitigation Strategy and the FPT Committee on Pest Management and Strategy.

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