Business Finance Terms, Explained Simply.
Learn more about common financial terms here.
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Undepreciated capital cost is the remaining tax value of a depreciable asset after CCA deductions have been claimed, the balance....
Tax planning is the proactive structuring of business and personal affairs to minimize tax owed within the law, the difference....
TOSI is a set of rules that applies the highest personal marginal tax rate to certain income received by family....
Tax deferral is the strategy of delaying when tax becomes payable, allowing money to remain in a corporation or a....
The T2 is the annual corporate income tax return that Canadian corporations must generally file with the CRA, regardless of....
The Small Business Deduction is a federal tax reduction that lowers the corporate tax rate on active business income for....
A shareholder loan is money borrowed from or lent to a corporation, and the CRA monitors it closely to ensure....
A Section 85 rollover is a provision of the Income Tax Act that allows eligible property to be transferred to....
SR&ED is the CRA’s tax incentive program that provides credits and deductions for eligible research and development expenditures, one of....
Salary is employment income paid to the owner-employee and is deductible to the corporation; dividends are distributions of after-tax corporate....
A QSBC is a Canadian-Controlled Private Corporation that meets specific CRA tests at the time of a share sale, and....
A prescribed rate loan is a loan from a higher-income spouse or family member to a lower-income one at the....