Glossary of fiscal terms used in Canada
There are 140 entries in this glossary.| Term | Definition |
|---|---|
| ax amnesty |
Waiver of penalties by Canada Revenue Agency further to a voluntary disclosure. |
| 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 |
| 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 |