Glossary

Basic Canadian tax glossary

Plain-language reference pages for recurring terms that appear in ReFocus Tax news articles.

Personal

TFSA

A registered account where eligible investment income and withdrawals are generally tax-free.

RRSP

A registered retirement savings account where contributions may be deductible and withdrawals are generally taxable.

CPP

A public pension program funded through contributions by employees, employers, and self-employed individuals.

EI Premiums

Payroll premiums used to fund Employment Insurance benefits.

Canada Child Benefit

A tax-free monthly payment for eligible families to help with the cost of raising children.

Canada Groceries and Essentials Benefit

A federal affordability benefit intended to provide targeted support for groceries and essential costs.

Disability Tax Credit

A non-refundable tax credit for individuals with a severe and prolonged impairment in physical or mental functions, subject to CRA approval.

FHSA

A registered account intended to help eligible first-time home buyers save for a qualifying home purchase.

RESP

A registered savings plan used to save for a beneficiary's post-secondary education.

Capital Gains

A gain that may arise when a capital property is sold or otherwise disposed of for more than its adjusted cost base.

Eligible Dividends

Certain Canadian corporate dividends that receive enhanced gross-up and dividend tax credit treatment.

Taxable Income

Income remaining after permitted deductions are applied and used to calculate tax payable.

Net Income

A tax-return measure of income after certain deductions, used for many benefit and credit calculations.

Total Income

A tax-return measure that adds together income from employment, pensions, investments, self-employment, and other sources before many deductions.

Non-Refundable Tax Credit

A credit that can reduce income tax otherwise payable, but generally does not create a refund by itself.

Refundable Tax Credit

A credit that can be paid even when it is larger than the tax otherwise payable.

Basic Personal Amount

A non-refundable tax credit amount available to individuals that helps shelter a basic level of income from federal tax.

Canada Workers Benefit

A refundable tax credit intended to supplement earnings for eligible lower-income workers and families.

GST/HST Credit

A tax-free quarterly payment that helps eligible individuals and families offset GST/HST costs.

Canada Carbon Rebate

A federal payment connected to returning fuel-charge proceeds to eligible residents in provinces where the federal carbon-pricing backstop applies.

Fuel Charge Proceeds

Money collected from the federal fuel charge before it is returned, allocated, or used according to federal carbon-pricing program rules.

RDSP

A registered savings plan designed to support the long-term financial security of a person eligible for the Disability Tax Credit.

Old Age Security

A federal pension benefit for eligible seniors, funded from general government revenues rather than direct contributions.

Guaranteed Income Supplement

An income-tested monthly benefit for eligible low-income seniors who receive Old Age Security.

Notice of Assessment

A CRA document that summarizes the result of assessing or reassessing a tax return.

Tax Instalments

Periodic payments made during the year toward tax that would otherwise be payable after filing.

Carryforward

A tax amount, loss, credit, or deduction that can be applied in a later year if the rules permit.

Capital Loss

A loss that may arise when a capital property is disposed of for less than its adjusted cost base and related costs.

Adjusted Cost Base

A tax measure of the cost of capital property, adjusted for certain additions, reductions, and transactions.

Superficial Loss

A denied capital loss that can arise when property is sold at a loss and the same or identical property is reacquired within the rule period.

Foreign Tax Credit

A credit that can help reduce Canadian tax where foreign tax has been paid on foreign-source income.

Employment Income

Income a person receives from an employer for work performed as an employee, usually reported on a T4 slip.

Self-Employment Income

Income earned from carrying on a business, profession, trade, or other activity on one's own account rather than as an employee.

Medical Expense Tax Credit

A non-refundable tax credit for eligible medical expenses paid for the taxpayer, spouse or common-law partner, and certain dependants.

Charitable Donation Tax Credit

A tax credit for eligible gifts made to registered charities and other qualified donees.

Tuition Tax Credit

A non-refundable tax credit for eligible tuition fees paid to qualifying educational institutions.

Marginal Tax Rate

The tax rate that applies to the next dollar of taxable income, after considering the relevant federal and provincial or territorial brackets.

Average Tax Rate

The total tax paid as a percentage of total income or taxable income, depending on the context being measured.

Tax Bracket

A range of taxable income that is subject to a particular statutory income tax rate.

Tax Refund

An amount paid back to a taxpayer when credits, instalments, or source withholdings exceed the final tax and other amounts payable.

Balance Owing

The amount a taxpayer must pay after a return is assessed or reassessed and all credits, payments, and withholdings are applied.

NETFILE

CRA's electronic filing service that allows individuals to send eligible income tax and benefit returns online using certified software.

CRA My Account

CRA's secure online portal for individuals to view tax, benefit, and account information and manage many tax-related services.

Clawback

A reduction or recovery of a benefit when income exceeds a threshold.

Adjusted Family Net Income

An income measure used to calculate eligibility or payment amounts for certain benefits and credits.

Canada Revenue Agency

The federal agency that administers tax laws, benefit payments, credits, and many compliance programs for the Government of Canada.

Canada Disability Benefit

A federal income supplement for eligible working-age persons with disabilities.

Community Volunteer Income Tax Program

A CRA-supported program where community organizations host free tax clinics for people with modest income and simple tax situations.

Multigenerational Home Renovation Tax Credit

A refundable credit for eligible renovation costs to create a secondary unit for a senior or an adult eligible for the Disability Tax Credit.

PSW

A worker who provides personal care and daily-living support, often in home care, long-term care, or community care settings.

Business

GST/HST

A value-added tax system that affects many sales, purchases, remittances, rebates, and input tax credits.

Supply Chain

The network of suppliers, producers, transport links, warehouses, and buyers that moves goods or services from inputs to final use.

Canada Border Services Agency

The federal agency responsible for border services, customs administration, and certain trade-remedy enforcement functions.

Canadian Entrepreneurs' Incentive

A proposed federal tax measure intended to reduce the tax rate on eligible capital gains from qualifying entrepreneurial shares.

Payroll Remittances

Amounts employers withhold and remit for income tax, CPP, EI, and related obligations.

Small Business Deduction

A corporate tax deduction that can reduce the tax rate on eligible active business income of Canadian-controlled private corporations.

Capital Cost Allowance

A tax deduction system that allows businesses and some property owners to deduct the cost of depreciable property over time.

SR&ED

A tax incentive program for eligible research and development work carried on in Canada.

Business Number

A unique CRA identifier used for business program accounts such as GST/HST, payroll, corporation income tax, and import/export.

Corporation Income Tax

Income tax paid by corporations on taxable income, with federal and provincial or territorial components.

CCPC

A private corporation with Canadian control that can qualify for certain tax treatment under the Income Tax Act.

Active Business Income

Income from a business carried on by a corporation, excluding certain investment or specified income depending on the rules.

Passive Investment Income

Income such as interest, rent, royalties, and portfolio dividends earned from investments rather than active operations.

Taxable Supplies

Supplies of property or services that are subject to GST/HST, including supplies taxed at 0%.

Zero-Rated Supplies

Taxable supplies that are subject to GST/HST at a rate of 0%.

Exempt Supplies

Supplies that are not subject to GST/HST and generally do not allow input tax credits on related costs.

Registrant

A person or business registered, or required to be registered, for GST/HST purposes.

Small Supplier

A GST/HST concept for persons whose taxable supplies are below the registration threshold, subject to detailed rules.

Input Tax Credit

A GST/HST credit that eligible registrants can claim for tax paid or payable on business inputs used in commercial activities.

Source Deductions

Amounts withheld from payments such as salary or wages for income tax, CPP, EI, or other required payroll amounts.

Taxable Benefits

Benefits or allowances provided to employees or shareholders that must be included in income when the tax rules require it.

T4 Slip

An information slip reporting employment income, payroll deductions, and related amounts for a calendar year.

T5 Slip

An information slip reporting certain investment income, commonly including interest, dividends, and royalties.

Trust Reporting

Filing and disclosure obligations that can apply to trusts and certain trust-like arrangements.

Shareholder Loan

An amount a corporation lends or advances to a shareholder or connected person, potentially giving rise to income inclusion or benefit rules.

Non-Capital Loss

A loss from sources such as business or property that can generally be applied against income under carryback and carryforward rules.

Recapture

An income inclusion that can arise when depreciable property is sold and prior capital cost allowance claims are effectively reversed.

Capital Dividend Account

A notional private-corporation account that can allow certain tax-free capital amounts to be paid to Canadian-resident shareholders as capital dividends.

Permanent Establishment

A treaty concept used to determine when a business has enough presence in another country for that country to tax its business profits.

Arm's Length Principle

The transfer-pricing principle that related parties should price transactions as independent parties would under comparable circumstances.

BEPS

Tax planning strategies and policy concerns involving profit shifting or erosion of the tax base across jurisdictions.

Foreign Affiliate

A non-resident corporation connected to a Canadian taxpayer through ownership thresholds under Canadian international tax rules.

FAPI

Certain passive or property-type income of a controlled foreign affiliate that may be included in a Canadian taxpayer's income before distribution.

Country-by-Country Reporting

A reporting regime requiring large multinational enterprise groups to provide tax administrations with jurisdiction-by-jurisdiction financial and tax information.

Advance Income Tax Ruling

A written CRA statement on how it will apply specific income-tax provisions to a proposed transaction or series of transactions.

Income Tax Folios

CRA publications explaining the agency's interpretation of income-tax law on specific topics.

Technical Interpretation

A CRA statement that discusses how tax law may apply to a general or hypothetical situation.

GST/HST Memoranda

CRA publications explaining GST/HST rules, definitions, administrative positions, and examples.

Audit

A review by the CRA or another tax authority to verify reported amounts, filings, records, or compliance with tax obligations.

Net Worth Assessment

An indirect assessment method that estimates income by comparing changes in assets, liabilities, spending, and reported income.

Requirement to Pay

A CRA collection tool requiring a third party to pay amounts owed to a taxpayer directly to the Crown toward a tax debt.

Registration of Charities

The CRA process for recognizing organizations as registered charities with tax-receipting privileges and related obligations.

Treaty-Reduced Withholding Rate

A lower withholding-tax rate available under an applicable tax treaty for certain payments to non-residents.

Controlled Foreign Affiliate

A foreign affiliate over which a Canadian taxpayer or related group has sufficient control under Canadian international tax rules.

Exempt Surplus

A foreign-affiliate surplus account generally connected to active business income earned in certain treaty or tax-information-exchange jurisdictions.

Taxable Surplus

A foreign-affiliate surplus account generally connected to income that does not qualify for exempt surplus treatment.

Interpretation Bulletins

Older CRA publications explaining administrative views on income-tax provisions.

Information Circulars

CRA publications explaining administrative procedures, programs, and compliance positions.

CRA Guides

CRA publications that explain filing, reporting, benefits, credits, and program rules in practical language.

Offshore Tax Informant Program

A CRA program that may reward eligible information about major international tax non-compliance.

Garnishment Order

A legal or administrative tool requiring a third party to pay amounts toward a debtor's obligation rather than to the debtor.

T1 Return

The main annual income tax return used by individuals in Canada, including employees, investors, sole proprietors, and many self-employed taxpayers.

T2 Return

The main income tax return that corporations resident in Canada generally file to report income, deductions, credits, and tax payable.

GST/HST Return

A periodic return filed by a registrant to report GST/HST collected, input tax credits claimed, and net tax owing or refundable.

Quick Method

A simplified GST/HST accounting method that lets eligible small businesses calculate net tax using prescribed remittance rates.

Place of Supply

GST/HST rules used to determine which province's rate applies to a taxable supply made in Canada.

Specified Investment Business

A corporate tax classification generally involving income from property, subject to exceptions such as sufficient full-time employees.

Withholding Tax

Tax withheld at source from certain payments, often including employment income, pension payments, or payments to non-residents.

Payroll Tax

A broad term for taxes, premiums, or contributions connected to payroll and employment.

Large Enterprise Tariff Loan

A federal financing facility for large Canadian companies affected by actual or potential tariffs and countermeasures.

Productivity Super-Deduction

A Budget 2025 investment-tax package intended to let businesses write off a larger share of new capital investment sooner.

Canada Enterprise Emergency Funding Corporation

A federal corporation used to administer certain large-enterprise financing programs.

Housing

Principal Residence Exemption

A tax rule that can reduce or eliminate capital gains tax on the sale of a qualifying principal residence.

Underused Housing Tax

A federal tax and filing regime aimed at certain underused residential property in Canada.

Rental Income

Income earned from renting property, generally reported for income tax purposes with related expenses.

New Housing Rebate

A rebate system that can apply to certain new or substantially renovated housing.

Apartment Construction Loan Program

A CMHC-administered federal loan program that provides low-cost financing for eligible purpose-built rental apartment projects.

Affordable Housing Fund

A CMHC funding program that supports new affordable housing, community housing, and repair or renewal projects through loans, forgivable loans, and contributions.

Housing Accelerator Fund

A federal housing program intended to help municipalities and other governments change local systems so more housing can be built faster.

Interim Housing Assistance Program

A federal program that helps provinces and municipalities with temporary housing costs for asylum claimants.

National Housing Strategy

Canada's federal housing strategy, delivered through a group of programs and partnerships intended to increase housing supply, repair housing, and support affordability.

Canada Housing Infrastructure Fund

A federal infrastructure funding program connected to housing-enabling infrastructure such as water, wastewater, stormwater, and solid-waste systems.

Build Canada Homes

A federal housing initiative housed within Housing, Infrastructure and Communities Canada and focused on supporting new affordable housing supply.

Rental Construction Financing Initiative

The earlier name for the federal rental-construction loan program now known as the Apartment Construction Loan Program.

GST/HST New Residential Rental Property Rebate

A GST/HST rebate framework that can apply to qualifying new or substantially renovated residential rental property, including enhanced relief for some purpose-built rental housing.

Vacant Home Tax

A municipal or provincial tax concept aimed at certain vacant or underused residential properties.

Short-Term Rental

A rental arrangement for short stays, often through digital platforms, that can trigger income tax, GST/HST, and local-rule issues.

Deemed Disposition

A tax rule that treats property as disposed of even when there is no ordinary sale.

Change in Use

A change in how property is used, such as from personal use to rental use, that can have tax consequences.

Home Buyers' Plan

A program that can let eligible first-time home buyers withdraw amounts from RRSPs to buy or build a qualifying home, subject to repayment rules.

Property Tax

A tax generally levied by municipalities or local governments on real property based on assessed value and local tax rates.

Land Transfer Tax

A tax or duty that may apply when real estate changes ownership, depending on the province, territory, or municipality.

First-Time Home Buyer

A person who meets the applicable program definition for first-time homebuyer status, which can vary by tax measure or housing program.

Qualifying Home

A home that meets the conditions for a particular tax measure, rebate, credit, or registered-plan withdrawal.

Bare Trust

An arrangement where a trustee holds legal title to property while another person is generally treated as the beneficial owner.

Insured Mortgage

A mortgage protected by mortgage default insurance, commonly required when a borrower has a smaller down payment.

Amortization Period

The period over which a mortgage would be fully repaid if scheduled payments continued as planned.

Mortgage Term

The length of a specific mortgage contract before it must be renewed, refinanced, or repaid.

Purpose-Built Rental

Housing designed and built specifically as long-term rental accommodation rather than owner-occupied units.

Policy

Capital Gains Inclusion Rate

The percentage of a capital gain that is included in taxable income.

Alternative Minimum Tax

A parallel tax calculation that can apply when certain deductions, exemptions, or credits reduce regular tax.

Clean Economy Tax Credits

A group of federal investment tax credits intended to support clean technology, clean electricity, carbon capture, hydrogen, manufacturing, and related projects.

CCUS

A set of technologies that capture carbon dioxide emissions and either use them or store them so they are not released into the atmosphere.

Carbon Contract for Difference

A contract intended to reduce uncertainty about future carbon-price values for eligible low-carbon or emissions-reduction projects.

Mineral Exploration Tax Credit

A federal tax credit connected to eligible exploration expenses, including a separate critical-mineral version for specified minerals.

AML/ATF

Rules and programs aimed at detecting, reporting, and deterring money laundering and terrorist financing.

FINTRAC

Canada's financial intelligence unit and AML/ATF regulator for covered reporting entities.

Digital Services Tax

A tax measure aimed at certain revenue from large digital services businesses.

Global Minimum Tax

An international tax framework intended to ensure large multinational groups pay a minimum level of tax.

Tax Treaties

Agreements between countries that coordinate tax rules, reduce double taxation, and support information exchange.

Budget Implementation Act

A federal bill that enacts many tax, spending, and policy measures announced in a budget or economic update.

GAAR

A rule that can deny tax benefits from abusive tax avoidance transactions.

Tax Gap

An estimate of the difference between taxes that would be paid if all obligations were fully met and taxes actually collected.

Guaranteed Livable Basic Income

A proposed income-support concept under which eligible people would receive enough income to meet basic needs and live with dignity.

Tax Avoidance

Arrangements that reduce tax within or around the legal rules, sometimes subject to anti-avoidance limits.

Tax Evasion

Illegal conduct intended to avoid paying tax, such as hiding income, falsifying records, or making false statements.

Mandatory Disclosure Rules

Rules requiring disclosure of certain transactions or tax positions to the CRA.

Transfer Pricing

Rules for pricing transactions between related parties across borders or within corporate groups.

Beneficial Ownership

A concept focused on the person who ultimately owns, controls, or benefits from property or an entity.

Withholding Tax

Tax withheld at source from certain payments, often including payments to non-residents.

Non-Resident Tax

Canadian tax rules that apply to certain income, property, or activities involving non-residents.

Voluntary Disclosures Program

A CRA program that may provide relief when taxpayers come forward to correct past tax omissions or errors before enforcement action begins.

Taxpayer Relief

CRA relief provisions that may allow cancellation or waiver of penalties and interest in certain circumstances.

Appeals

The process for disputing a CRA assessment or reassessment, beginning with objections and sometimes moving to court.

Reassessment

A later CRA determination that changes a previously assessed tax return or account.

SCC

Canada's final court of appeal, whose decisions can settle legal questions for courts across the country.

Federal Court of Appeal

A federal appellate court that hears appeals from the Federal Court, the Tax Court of Canada, and some federal tribunals.

Tax Court of Canada

A specialized federal court that hears many disputes between taxpayers and the federal tax authority.

Federal Court

A federal court that hears matters involving federal boards, agencies, and some federal statutory disputes.

CanLII

A public legal-information website that provides access to Canadian case law, legislation, and related legal materials.

Case Law

Law developed through court decisions that interpret statutes, apply legal principles, and decide disputes.

Common Law

A legal tradition based heavily on court decisions and precedent, used across Canada except where Quebec civil law applies to private-law matters.

Civil Law

A legal tradition based on codified private-law rules, especially important in Quebec.

Statute

A written law enacted by a legislature, such as Parliament or a provincial legislature.

Regulation

A legal rule made under authority granted by a statute, often setting out detailed administrative or technical rules.

Income Tax Act

The main federal statute governing income tax in Canada.

Excise Tax Act

A federal statute that includes key GST/HST rules and certain other excise-related provisions.

Precedent

A prior legal decision that may guide or bind how later cases are decided.

Stare Decisis

The principle that courts generally follow earlier decisions, especially decisions from higher courts in the same legal hierarchy.

Ratio Decidendi

The legal reasoning necessary to decide a case.

Obiter Dicta

Comments in a judgment that are not necessary to decide the case.

Judicial Review

A court process for reviewing the legality or reasonableness of certain government or administrative decisions.

Standard of Review

The level of deference or scrutiny a reviewing court applies to a lower court or administrative decision.

Leave to Appeal

Permission required before some appeals can proceed, especially at the Supreme Court of Canada.

Neutral Citation

A court-assigned citation that identifies a decision independently of a commercial reporter.

Reasons for Judgment

The written explanation a court gives for its decision.

Statutory Interpretation

The legal process of determining the meaning and effect of legislation.

Administrative Law

The area of law governing decisions and actions by public officials, agencies, boards, and tribunals.

Procedural Fairness

Legal principles requiring fair decision-making procedures in appropriate administrative contexts.

Ways and Means Motion

A parliamentary step used to propose taxation measures before related tax legislation is introduced or advanced.

Royal Assent

The final formal step by which a bill passed by Parliament becomes an Act of Parliament.

Excise Act, 2001

A federal statute dealing with excise duties and regulatory rules for products such as spirits, wine, tobacco, cannabis, and vaping products.

Customs Act

A federal statute governing the importation and exportation of goods, customs reporting, valuation, accounting, enforcement, and appeals.

Customs Tariff

A federal statute and tariff schedule used to classify imported goods and determine applicable customs duty rates.

Income Tax Regulations

Regulations made under the Income Tax Act that provide detailed rules for many tax calculations, elections, reporting requirements, and prescribed amounts.

Purposive Interpretation

An approach to statutory interpretation that reads legal text in light of its words, context, and purpose.

Sham Transaction

A transaction or arrangement where parties present legal rights or obligations that do not reflect what they actually intended.

SAAR

A targeted anti-avoidance rule aimed at a specific type of transaction, structure, deduction, credit, or tax result.

Burden of Proof

The legal responsibility to prove a fact or issue to the required standard in a dispute.

Solicitor-Client Privilege

A legal protection for confidential communications between a lawyer and client made for the purpose of seeking or giving legal advice.

Deemed Trust

A statutory rule treating certain unremitted tax amounts as held in trust for the Crown.

Notice of Objection

A formal filing used to dispute a CRA assessment or reassessment before going to court.

Double Taxation Relief

Rules or treaty mechanisms that reduce the risk that the same income is taxed twice by different jurisdictions.

Treaty Shopping

Using an entity, structure, or jurisdiction mainly to access tax treaty benefits that would not otherwise be available.

Principal Purpose Test

A treaty anti-abuse rule that can deny a treaty benefit where obtaining that benefit was one of the principal purposes of an arrangement or transaction.

Limitation on Benefits

A treaty provision that limits treaty benefits to persons meeting specified ownership, activity, listing, or other qualifying tests.

OECD Model Tax Convention

A model treaty and commentary used by many countries as a reference point when negotiating and interpreting income tax treaties.

FATCA

A U.S. reporting regime implemented in Canada through an intergovernmental agreement requiring certain Canadian financial institutions to report information on U.S. reportable accounts.

Common Reporting Standard

An OECD-developed standard for automatic exchange of financial account information between participating jurisdictions.

Mutual Administrative Assistance

A multilateral convention supporting cooperation between tax authorities, including information exchange and assistance in tax administration.

Financial Administration Act

A federal statute setting core rules for public money, borrowing, spending, Crown corporations, and financial administration.

Canada Pension Plan Act

The federal statute establishing the Canada Pension Plan and its contribution and benefit framework.

Employment Insurance Act

The federal statute establishing Employment Insurance benefits and premium rules.

Special Import Measures Act

The Canadian statute governing anti-dumping and countervailing duty investigations and measures.

Underused Housing Tax Act

The federal statute establishing the Underused Housing Tax filing and tax framework.

Air Travellers Security Charge Act

The federal statute imposing the air travellers security charge on certain air transportation.

Softwood Lumber Export Charge Act

A federal statute connected to charges on certain softwood lumber products exported from Canada.

Excise Tax Regulations

Regulations made under the Excise Tax Act that support detailed GST/HST and excise-tax administration.

Country of Origin Marking Regulations

Customs regulations governing when imported goods must be marked to show their country of origin.

Special Import Measures Regulations

Regulations supporting the Special Import Measures Act and trade-remedy administration.

Legal Form vs. Economic Substance

A tax-law idea distinguishing the legal rights created by documents from the practical economic reality of a transaction.

Waiver of Limitation Period

A taxpayer waiver allowing the CRA to assess or reassess beyond an otherwise applicable time limit for specified matters.

UN Model Tax Convention

A model tax treaty used as a reference in tax-treaty negotiations, often with more source-country emphasis than the OECD model.

MLAT

A treaty framework for cooperation between countries in criminal or enforcement matters, including evidence gathering and information sharing.

Customs Tariff Regulations

Regulations supporting the Customs Tariff and detailed tariff administration.

Fairness Package

An older term often used for taxpayer-relief provisions allowing relief from interest, penalties, and certain late-filed elections.

Tax Information Exchange Agreement

An agreement between jurisdictions for exchanging tax information, often where there is no full income tax treaty.

De Minimis

A rule or threshold under which small amounts may receive simplified or different treatment.

Tariff Binding

A WTO commitment setting the maximum tariff rate a member generally agrees not to exceed for a product.

Exporter Undertaking

A commitment by an exporter, often in a trade-remedy context, to adjust prices or stop exports in a way that addresses dumping or subsidy concerns.

Registered Charity

An organization registered by CRA as a charity and able to issue official donation receipts for eligible gifts.

Qualified Donee

An organization that can issue official donation receipts for gifts and receive gifts from registered charities under the Income Tax Act.

Tax Shelter

An arrangement or gifting arrangement that meets statutory tax-shelter conditions and is subject to identification and reporting rules.

Federal Budget

The federal government's annual fiscal plan, setting out expected revenues, spending, borrowing, and proposed tax or benefit measures.

Fiscal Policy

Government choices about taxation, spending, borrowing, and transfers.

Tax Measure

A change or proposal affecting how tax is calculated, collected, credited, rebated, deferred, relieved, or administered.

Bill

A proposed law introduced in Parliament or a legislature.

Order in Council

A formal legal instrument made by the Governor in Council, often used to bring rules into force or make regulations.

Coming Into Force

The date or event when a statute, regulation, or legal measure begins to apply.

Financial Crimes Agency

A proposed federal law-enforcement agency focused on sophisticated financial crimes such as fraud, money laundering, and recovery of illicit proceeds.

RCMP

Canada's federal police service, with roles that include federal policing and investigations into serious and organized crime.