Terms with Tag Taxes
- Before-tax Income — Definition,
- Earnings before income taxes are paid.
- Business Interest Expense — Definition,
- Interest acquired in business operations can be deducted as a business expense.
- Business Personal Property (BPP) — Acronym,
- Business Tax Instalment Payment Plan (BTIPP) — Acronym, Calgary, Alberta, Canada,
- Business Tax Reduction (BTR) — Acronym, Canada,
- Business Tax Review Committee (BTRC) — Acronym, Saskatchewan, Canada,
- Canada Child Tax Benefit (CCTB) — Acronym, Canada,
- The Canada Child Tax Benefit is a tax-free monthly payment made to eligible families to help them with the cost of raising children under age 18.
➥ Pamphlet T4114. - Canada Customs and Revenue Agency (CCRA) — Acronym, Canada,
- Canada Revenue Agency (CRA) — Company, Canada, Important,
- Canadian Advocates for Tax Awareness (CAFTA) — Acronym, Ottawa, Ontario, Canada,
- Canadian Development Expense (CDE) — Acronym, Canada,
- Canadian Exploration and Development Overhead Expenses (CEDOE) — Acronym, Canada,
- Canadian Property Tax Association (CPTA) — Company Est. 1967, Canada,
- Canadian Taxpayers Federation (CTF) — Company Est. 1990, Canada, Important, ➥ Canadian lobby group.
- Canadians for Tax Fairness (CTF) — Company, Ottawa, Ontario, Canada,
- Capital Assets — Definition,
- Items that you own for investment or personal purposes, such as stocks, bonds or stamp collections. When you sell a capital asset, depending on the price you earn a capital gain or a capital loss. Gains are taxed at a special rate, and losses can be used in many cases to reduce the amount that is taxed. See also "Capital Gain" or "Capital Loss."
- Capital Cost Allowance (CCA) — Acronym, Canada,
- Capital Cost Allowance is a method of expensing depreciable assets as defined by the Canadian Income Tax Act (ITA).
- Capital Gain (CG) — Acronym, Important,
- The profit made by the seller when real estate or other capital assets are sold. Capital gains are taxed more favourably than earned income. However, this can be dependent on your tax bracket and the length of time you owned the asset before it was sold. You could pay approximately one-third to one-half less tax than you would pay on the same amount of earned salary.
- Capital Gain Distribution — Definition,
- When the fund sells some of its assets, you receive capital gain distributions or a portion from the sale. This distribution is regarded as a capital gain, not as ordinary dividends such as the interest gained from a bank account. It is important to separate capital gain distributions from ordinary dividends because capital gains are taxed more favourably.
- Capital Gains Tax (CGT) — Acronym, Canada,
- A tax on profits from the sale of real estate or investments.
- Capital Loss — Definition,
- When an asset is sold for less than what you paid, or less than its adjusted basis, it is a capital loss. However, when it comes to taxes a capital loss is not always bad because you can use it to reduce the amount of income being taxed by the amount of the loss, up to $3,000 per year. If your loss is more significant, the excess (or capital loss carryover) can be carried forward indefinitely until the total loss is used.
- Capital Transfer Tax (CTT) — Acronym,
- Capitalization — Definition,
- An estimate of the value of a rental or commercial property using the rate of return on investment and the property's annual net operating income.
- Carrying Costs — Definition,
- The cost of maintaining a property.
- Cash Flow — Definition,
- The money an investment produces after subtracting cash expenses from income.
- Cash Flow Forecast — Definition,
- An estimate of when and how much money will be received and paid out of a business. It usually records cash flow on a month-by-month basis for a period of two years.
- Cash Method — Definition,
- The form of accounting in which you report income in the actual year you receive it and deduct expenses in the year you pay. Most individuals use this method. Under this system, if you built a deck and billed the client in December 1999 but didn't receive the cheque until January 2000, it would be counted as 2000 income, not 1999.
- Casualty and Theft Loss — Definition,
- A loss caused by a hurricane, earthquake, fire, flood, theft or similar event that is sudden, unexpected or unusual. You can deduct a portion of personal casualty or theft losses as an itemized deduction.
- Child Tax Credit (CTC) — Acronym,
- A tax break for those who claim eligible dependent children on their tax returns.
➥ See Canada Child Tax Benefit (CCTB). - Circuit Breaker — Definition,
- A tax credit that reduces property taxes for the elderly and permanently disabled. The credit is dependent on the amount of income earned which means the more you make, the lower the credit.
- An electrical device used to turn power off and on in sectors of a building and to limit the flow of electricity through a circuit for safety purposes.
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Before-tax Income -
Canadian Development Expense
Canadian Development Expense
