Difference between revisions of "Glossary for Paying Taxes in BC"

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'''''Paying Taxes in BC''''' from [[People's Law School]] has been replaced by [https://www.peopleslawschool.ca/publications/essentials-money-debt/ ''Essentials of Money & Debt'']. This new title covers income tax as well as other aspects of managing your finances and dealing with debt-related problems.
;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.
 
{{REVIEWED | reviewer = [[People's Law School]], 2011}}
 
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Latest revision as of 15:58, 5 May 2021

Paying Taxes in BC from People's Law School has been replaced by Essentials of Money & Debt. This new title covers income tax as well as other aspects of managing your finances and dealing with debt-related problems.

In law, a document demonstrating ownership of a thing. See "ownership."

A sum of money or an obligation owed by one person to another. A "debtor" is a person responsible for paying a debt; a "creditor" is the person to whom the debt is owed.

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