Taxes
tax leveled by a government directly on income?
income tax
Goods and services Tax; a value- added leveled on most goods and services sold for domestics consumption
GST
The act of subtracting something
Deduction
any method of reducing taxable income resulting in a reduction of the payments to tax collecting entities?
Tax shelter
Registered Education Saving Plan; an investment vehicle available for caregivers to save for their children's Post- Secondary Education
RESP
A person whose job is to keep or inspect financial accounts
Accountant
Federal agency that collects taxes and administers tax laws for the government
what is Revenue Canada
Employment Insurance; a federal insurance program that provides benefits to eligible unemployed people
EI
The government body of a nation, state or community
Government
A tax placed on products or services that are deemed non-essential
Luxury Tax
Income before taxes and deductions
Gross Earning (income)
A society or organization founded for a religious, educational social or similar purpose
Institution
a range of incomes taxed at a given rate
Tax bracket
Represent the amount of sales revenue leftover after all operating expenses, interest, taxes and preferred stock dividends
Net earnings
An abundance of valuable possessions or money
Wealth