Fiscal year the fiscal year is the calendar year, 1 January to 31 December. In Brazil, the fiscal year is the calendar year, 1 January to 31 December. In Bulgaria, the fiscal year is the calendar year, 1 January to 31 December, both for personal income tax and for corporate taxes. In Canada, the government's financial year is 1 April to 31 March. <br>(Q1 1 April - 30 June, Q2 1 July - 30 Sept, Q3 1 Oct - 31 Dec and Q4 1 Jan - 31 Mar) For individual taxpayers, the fiscal year is the calendar year, 1 January to 31
Fiscal policy a lower aggregate demand for goods and services, contrary to the objective of a fiscal stimulus. Neoclassical economists generally emphasize crowding out while Keynesians argue that fiscal policy can still be effective especially in a liquidity trap where, they argue, crowding out is minimal. Some classical and neoclassical economists argue that crowding out completely negates any fiscal stimulus; this is known as the Treasury View, which Keynesian economics rejects. The Treasury View refers to the theoretical positions of classical economists in the British Treasury, who opposed Keynes' call in the 1930s for fiscal stimulus. The same general argument has been