Glossary of fiscal terms used in Canada

There are 140 entries in this glossary.
All A B C D E F G H I L N O P Q R S T U W
Term Definition
Negotiating settlement for your taxes

Negotiating for a settlement with the government.

Net income

Income subject to taxation after allowable deductions have been subtracted from gross or total income.

Notice of Assessment

form sent by the government to all taxpayers after they process returns. It tells taxpayers or GST/HST registrants if they made any corrections to the returns or rebate applications and, if so, what they are. It also informs taxpayers or registrants if they owe more tax or what the amount of their refund will be.

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