Tax Defenders

The privacy of income tax and GST/HST returns and other related tax information. The only people with access to this information are those who are authorized by law or those to whom the taxpayer has given permission in writing.

A form of business authorized by federal, provincial, or territorial law to act as a separate legal entity. Its purpose and regulations are set out in its article of incorporation. One or more persons may own a corporation.

he actual cost of the items sold in the normal course of business during a specific period.

Cost that your case is worth.

Federal perception office.

Provincial perception office.

An amount that is owed. If you borrow money or purchase something on credit, you have created a debt.

A legal term used when something is considered to be something else for certain purposes.

Property that wears out as it is used over the years. For example, cars, farm equipment, and business machines are depreciable. See capital cost allowance.

A decrease in the value of an asset through age, use, and deterioration. In accounting terminology, depreciation is a deduction or expense claimed for this decrease in value.

Generally, the disposal of property by sale, gift, transfer, or change in use

A formal choice among specific options on how tax laws are applied to a taxpayer's financial affairs. Usually, you make an election on your tax return.

See salary.

A federal program that provides financial assistance to people who are temporarily out of work. It is an insurance program, with employers and employees making payments into the Employment Insurance Fund.

Deductions that an employer must make from employees' paycheques and forward to the Receiver General for Canada. Employers must also contribute Employment Insurance payments.

All of someone's property and money

Person dealing with an estate

Person dealing on estate tax matter

Person responsible for tax department

Taxes on the manufacture, sale, or use of goods and items.

Expenses not accepted by instead of from ARC or Revenue Québec

Specialist in tax situation.

Procedure in tax filing

Program sometimes called ‘’Tax amnesty program’’ or ‘’Tax pardon’’ to encourage individuals and corporations to report any unreported income or GST or to file returns not previously filed. It is a voluntary disclosure for which Revenue Canada waives penalties and sometimes can negotiate an interest reduction.

This is the twelve-month period over which a business or profession reports its income-earning activities. The fiscal period may or may not coincide with the calendar year. The business usually establishes its fiscal period when it files its first income tax return.