Canada Revenue Agency (CRA)
The Canada Revenue Agency (CRA) is the federal agency that manages and administers tax matters on behalf of the federal government including income tax, Goods & Services Tax (GST), Harmonized Sales Tax (HST), and customs duties. The CRA also manages and administers the collection of income tax and HST for the provincial and territorial governments. As exceptions, Alberta and Québec administer their own provincial corporate taxes, and Québec also administers its personal income tax. The CRA publishes forms and guides and issues various technical interpretations including income tax folios, interpretation bulletins, and information circulars. The CRA also provides advance tax rulings that taxpayers can use before implementing a transaction that might otherwise give rise to a reassessment. For further information, see the CRA’s website.
The income from operating and non-operating activities of a business like sale of goods or services, interest income, etc is known as the revenue for a business. Revenues help to increase the value of Assets and decrease the value of liabilities in a ...
Bank of Canada (BOC)
Canada's National Bank is located in Ottawa, Ontario, it's The Bank of Canada. The Bank of Canada is not a bank that is open to the public. Their main responsibility is the promotion of the Nation’s economic and welfare. They're also responsible for ...
Primarily found in the province of Quebec in Canada, a caisse populaire is the francophone equivalent of a Credit Union.
Deferred revenue, also known as unearned revenue is any amount which is earned before the actual revenue is reported. The revenue is deferred to a later date when actual services are performed and hence the name - deferred revenue. Deferred revenue ...
Bank of Canada Act
The federal Bank of Canada Act created the Bank of Canada (BOC) and defines its powers. See Bank of Canada Act, R.S.C. 1985, c. B-2.