Glossary of fiscal terms used in Canada

There are 140 entries in this glossary.
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Term Definition
Tax service offices

Offices across the country that provide main point of contact for the public.

Tax specialist

Specialist in taxation.

Tax treaties

Government agreements signed between countries. They help citizens who earn foreign income avoid double taxation.

Taxable benefits

Amounts of money, or the value of goods or services, that an employer pays or provides in addition to salary. For example, the part of a health insurance plan that the employer pays is a taxable benefit.

Taxable income

The amount of income left after all allowable deductions have been subtracted from NET INCOME. This amount is used to calculate taxes to be paid.

Taxation year

The calendar year or fiscal period for which income tax is to be paid.

Trough discovery and negotiation

Fact finds out about tax case

Undeclared income

income not declared

Unfiled income report

income tax not filed

Unreported income

income not reported

Winning tax case

Have gain in Tax litigation

With the government

Together with the government

Workers' compensation

Money paid to compensate a person injured on the job. It is an insurance plan paid for by employers and administered by the Workers' Compensation Board.

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