Glossary of fiscal terms used in Canada

There are 140 entries in this glossary.
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Term Definition
Responding to information request

Information requested by a government agency.

Revenu Québec

Provincial jurisdiction in Canada

Revenue Canada TPS,TVQ Montreal

Information received for TPS,TVQ in Montreal

Salary

The amount an employer pays an employee for work done. Each employer records this type of employment income on T4 slips. Same as employment income and wages.

Seize for taxes

Assets seized for taxes.

Seizure

To take hold of something suddenly and violently

Self-employment

he operation of your own business.

Social insurance number (SIN)

number given to each contributor to the Canada Pension Plan, Quebec Pension Plan, and Employment Insurance Plan. It helps record the contributions and premiums paid into and the benefits paid out of the plans. Since these social insurance programs are connected to the tax system, the SIN is also used as an identifier for federal income tax purposes. Everyone who files an income tax and benefit return must provide a SIN.

Sole proprietorship

An unincorporated business entirely owned by one person. Same as a PROPRIETORSHIP.

Spouse

or purposes of the Income Tax Act, starting in 2001, the term spouse will mean only a married partner. The term common-law partner will include partners of the same sex or opposite sex, who meet certain conditions. For more information, see the General Income Tax and Benefit guide.

Statement of income and expenses

Form that summarizes revenue, income, and expenses for a specific period.

Statement of remuneration paid (T4 slip)

Information slip that shows the income that an employer pays to an employee. Taxable allowances and benefits, such as payments made on the employee's behalf to a provincial health care plan, are included as income. A T4 slip also shows how much the employer deducted for income tax, CPP or QPP contributions, employment insurancepremiums, and contributions to the employer's pension plan.

Supply

For GST/HST purposes, this generally means the provision of property or a service in any manner, including sale, transfer, barter, exchange, licence, rental, lease, gift, or disposition.

Tax assessment

Document from federal or provincial government

Tax assessment Montreal

Document from federal or provincial government in Montreal

Tax centers

Offices in different regions of Canada and provincial regions where tax returns are processed.

Tax controversy

Serious argument about tax situation.

Tax Court of Canada

A court that hears appeals about income tax and GST/HST assessments. In addition, the Court has jurisdiction to hear appeals under the Canada Pension Plan, Employment Insurance Act and several other acts. The Tax Court maintains four offices (Vancouver, Ottawa, Toronto, and Montreal) and regularly conducts hearings in major centres across Canada.

Tax help Canada

Sum of help you can get from a specialist in Canadian taxes

Tax help Quebec

Sum of help you can get from a specialist in Quebec taxes

Tax litigation

Process to claim Tax against someone.

Tax payable

The amount of income tax that you must pay on taxable income for the taxation year. It is also the amount of tax payable on a taxable supply (for GST/HST purposes).

Tax payers overseas

Canadian working in a foreign country

Tax problem

Problem coming from taxes

Tax problems

Problems coming from taxes

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