Glossary of fiscal terms used in Canada
There are 140 entries in this glossary.| 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 |