Tax Vocabulary

2. To include information on your tax return.
4. A tax on products imported from foreign countries.
5. When you sell an asset for less than you paid.
9. A Canadian agency that collects taxes and administers benefits.
10. A company or individual that pays and issues you an information slip.
12. An additional form you attach to your return to calculate specific credits.
13. A non-refundable tax credit everyone can claim.
15. The general rise in prices over time.
16. Someone who relies on you financially.
19. Tax Tax imposed by governments on the sale of goods and services.
20. Shelter Investments designed to reduce, defer, or eliminate tax liabilities.

1. Expenses that reduce the income you pay tax on.
3. A person who hasn't filed a tax return.
6. Income The total amount of money a person or business earns before any deductions.
7. Money the CRA gives back if you've paid more tax than you owed.
8. A spot in the tax return where you report a specific type of income or tax credit.
11. Amount taxpayers can claim for themselves, their spouses, and eligible dependents.
14. Fees charged for not paying your taxes on time.
17. Evasion The intentional act of not paying or underpaying taxes owed to tax authorities.
18. Stub The breakdown of your earnings and deductions each pay period.