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Current Mortgage RatesVariable closed: 1.65% 1 year closed: 1.64% 3 year closed: 1.59% 5 year closed: 1.69% 10 year closed: 2.84% Glossary
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GLOSSARY
Canadian Financial, Real Estate and Mortgage Glossary
How often this word is used
^
50% - Moderately
50% - Moderately
Dependent
Synonyms: | baby, child, defenceless, helpless, minor, relies on someone |
Filed Under: | legal-contracts, mortgages, taxation |
Tags: | contract, legal, mortgage, taxes |
Definition of dependent
- dependent
- 1. A person, often a child or spouse, who relies on someone else for financial support. Dependents can be claimed as exemptions which reduces the amount of your income that is taxed.
Related Terms and Acronyms:
- alimony Monthly payments received by an ex-spouse. Payments must be received continuously for one year to be counted toward qualifying income for a loan.
- child support (CS) Monthly payments that contribute to the care of a child. Payments must be received continuously for one year to be counted toward qualifying income for a loan.
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