Sales Tax

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • government charge
  • expense
  • consumption tax
  • fee
  • dues

Alternate Spellings

  • HST
  • PST

Definition of Sales Tax

  1. Federal and / or provincial taxes that are applied to purchases. Residential resale properties are usually exempt from federal GST but newly constructed properties are not.

Related Terms and Acronyms

  • Local Taxes Bank,
    • Taxes imposed by local governments (municipalities) to pay for its services. These taxes are in addition to Federal and Provincial taxation.
  • Tax Exempt (TE) Bank, Very Important,
    • Income that is not subject to tax. Income exempt from federal tax may, however, be subject to provincial taxation.
  • Goods and Services Tax (GS, GST) Bank, Canada,
    • A sales tax that applies in all Canadian provinces charged at 5% (as of 2012).
    Bank account transaction code.
  • Indirect Tax Bank,
    • A tax that is collected by a third party before being transferred to the government.
  • Full Market Value Definition,
    • In reference to property taxes, usually refers to the tax rate applied to 100 percent of the property's value. Also full cash value.
  • Provincial Sales Tax (PST) Bank, Canada,
    • A sales tax collected by some Canadian provinces.
  • Assessments Definition,
    • Special and local taxes imposed upon property which benefits from an improvement that has been made in the vicinity.
  • Personal Consumption Spending Bank,
    • What households collectively spend on goods and services.
  • Tax (TX) Bank,
    • A levy paid by an individual or entity that is collected by a government.
    Bank account transaction code.
  • Land Transfer Tax (LTT) Acronym,
    • A provincial tax payable on any property that changes hands. First time buyers may be eligible for a rebate.
  • Direct Tax Bank,
    • A tax that is paid straight to the government.
  • Harmonized Sales Tax (HST) Bank, Canada,
    • A sales tax used in some provinces to merge the GST and PST.
    Canadian consumption tax.
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