equalization payment

noun2

1. •
   (Canada) Extra money transferred from the federal government to a province, drawn from general tax revenue and intended to redistribute some wealth from relatively prosperous provinces to relatively poor provinces.

   • Ontario may soon be classed as a "have-not" province and receive equalization payments for the first time in its history. — 2008
2. •
   (Canada) In a divorce agreement, a payment made by one spouse to the other in order to create an equal division of assets.

   • The court set aside a trial judge's decision from 2007 that required Harold Serra to make an "equalization payment" of $3.3 million to his former wife. — 2009