Terms with Tag Taxes

  • Payables at Year-End (PAYE)Acronym, Canada,
    • To ensure that liabilities existing at the fiscal year-end for work performed, goods received, services rendered, transfer payments and other items are recorded in the accounts and financial statements of Canada.
    Treasury Board policy.
  • Payout Phase Definition,
    • The phase of a deferred annuity where the annuity begins to make payments to the annuitant.
  • Payroll Taxes Definition,
    • A tax based on wages and salaries that is deducted from employees pay cheques.
  • Personal Consumption Spending Definition,
    • What households collectively spend on goods and services.
  • Personal Disposable Income Definition,
    • Personal income minus personal income tax payments. Also called "take-home pay."
  • Personal Income Tax Review Committee (PITRC)Acronym, Saskatchewan, Canada,
    • Personal Property Tax (PPT)Acronym,
      • Personal Property Taxes Definition,
        • Tax paid on real property, intangible, or tangible property. To differentiate between real property and personal property, the tax assessing official must consider the manner in which property is attached to or secured at the location. Also called property taxes.
      • Personal Savings Definition,
        • The difference between personal disposable income and personal consumption spending.
        • Put own money away.
      • Personal Vehicle Tax (PVT)Acronym, Toronto, Ontario, Canada,
        • Pre-paid Expenses Definition,
          • also called prepaid items or prepaids -- Recurring costs such as taxes, insurance and interest that are paid at closing and which cannot be financed.
        • Pre-paid Interest Definition,
          • Interest that a borrower pays before it is due, usually to save taxes.
        • Pre-Tax Operating Income (PTOI) Acronym,
          • The operating income generated by a company, less expenses, before taxes have been paid.
        • Primary Money Laundering Concern (PMLC)Acronym,
          • Principal, Interest and Taxes (PIT) Acronym, Important,
            • Principal, interest and taxes. The components of a monthly mortgage payment.
          • Principal, Interest, Taxes, and Insurance (PITI) Acronym,
            • Acronym for the elements of a mortgage payment: principal, interest, taxes and insurance.
          • Private Annuity Definition,
            • An arrangement where one party agrees to transfer ownership of an asset to another party (usually a beneficiary) in exchange for lifetime payments.
          • Private Health Services Plan (PHSP) Acronym, Canada, Important,
            • A method for businesses to provide health benefits for their employees that is both tax deductible for the business and non taxable for the employee.
            Provides tax-deductible health and dental benefits in Canada.
          • Private Healthcare Definition,
            • Health services no provided by the government, often paid out of pocket.
          • Proceeds of Crime, Money Laundering and Terrorist Financing Act (PCMLTFA)Acronym, Canada,
            • Property Income Tax Certificate (PITC)Acronym, Quebec, Canada,
              • Property Tax Definition,
                • A levy by a city on real estate and personal property whose amount varies depending on the property's value.
              • Property Tax Credit (PTC)Acronym, Canada,
                • Refundable tax benefit claimed on the personal income tax return designed to provide assistance for Canadians with low to moderate incomes.
              • Provincial Harmonized Sales Tax (PHST)Acronym, Ottawa, Ontario, Canada,
                • Provincial Home Owner Grant (PHOG)Acronym, British Columbia, Canada,
                    Program helps reduce the amount of residential property tax homeowners pay.
                  • Provincial Land Tax Act (PLTA)Acronym, Canada,
                    • Provincial Sales Tax (PST) Acronym, Canada,
                      • A sales tax collected by some Canadian provinces.
                    • Provincial Vehicle Tax (PVT)Acronym, Canada,
                      • Qualified Small Business Corporation (QSBC)Acronym,
                        • Real Estate Attorney Definition,
                          • A lawyer who specializes in the transfer of land and buildings and property tax issues.
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