Vocab chapter 3 FP Crossword
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Down:
1) Total income reduced by certain deductions, such as contributions to an RRSP or RPP.2) The use of legitimate methods to reduce one's taxes.3) Expenses that can be deducted from total income, such as child care expenses, union dues, disability support payments, investment counselling fees, and certain employment-related expenses.4) Remuneration received for personal effort.5) The use of illegal actions to reduce one's taxes.6) Net gains from the sale of capital assets such as stocks, bonds, and real estate. One-half of net capital gains are taxable.7) Total tax due divided by total income.8) Income from property, including income in the form of interest, dividends, and rents net of expenses.11) An amount subtracted directly from the amount of taxes owing.13) A tax imposed on specific goods and services, such as gasoline, cigarettes, alcoholic beverages, tires, and air travel. |
Across:
9) The net amount of income, after allowable deductions, on which income tax is computed.10) Net income from an activity that is carried out for profit, after expenses have been deducted.12) The rate of tax paid on the next dollar of taxable income.14) A detailed examination of your tax return by the Canada Revenue Agency. |
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