Difference between revisions of "Glossary for Paying Taxes in BC"
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;CCTB: Canada Child Tax Benefit, or CCTB, is a payment for families who need help with the cost of raising children under age 18. | ;CCTB: Canada Child Tax Benefit, or CCTB, is a payment for families who need help with the cost of raising children under age 18. | ||
| − | ;CRA: Canadian Revenue Agency the federal government office in charge of all income tax. | + | ;CRA: Canadian Revenue Agency is the federal government office in charge of all income tax. |
;credit: An amount of money. | ;credit: An amount of money. | ||
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;defer: To put off to a future time. | ;defer: To put off to a future time. | ||
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;investments: An amount of money invested in something for the purpose of making a profit. | ;investments: An amount of money invested in something for the purpose of making a profit. | ||
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;net earnings: The amount of income after deductions. | ;net earnings: The amount of income after deductions. | ||
| − | ; | + | ;Notice of Assessment: A document issued by CRA that summarizes your tax filing including taxes paid or taxes owing. |
;refund: To get money back. | ;refund: To get money back. | ||
| − | ;RRSP: Registered Retirement Saving Plan | + | ;RRSP: A Registered Retirement Saving Plan defers taxes. |
;tax year: January 1 to December 31. | ;tax year: January 1 to December 31. | ||
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{{REVIEWED | reviewer = [[People's Law School]], 2014}} | {{REVIEWED | reviewer = [[People's Law School]], 2014}} | ||
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{{Creative Commons for PLS | {{Creative Commons for PLS | ||
| − | |title = Paying Taxes in | + | |title = Paying Taxes in BC |
|author = | |author = | ||
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Latest revision as of 17:12, 23 March 2014
- CCTB
- Canada Child Tax Benefit, or CCTB, is a payment for families who need help with the cost of raising children under age 18.
- CRA
- Canadian Revenue Agency is the federal government office in charge of all income tax.
- credit
- An amount of money.
- deduction
- Something taken away.
- defer
- To put off to a future time.
- investments
- An amount of money invested in something for the purpose of making a profit.
- net earnings
- The amount of income after deductions.
- Notice of Assessment
- A document issued by CRA that summarizes your tax filing including taxes paid or taxes owing.
- refund
- To get money back.
- RRSP
- A Registered Retirement Saving Plan defers taxes.
- tax year
- January 1 to December 31.
| This information applies to British Columbia, Canada. Last reviewed for legal accuracy by People's Law School, 2014. |
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 Paying Taxes in BC © People's Law School is, except for the images, licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Licence.
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