CRA Annual Report to Parliament 2011-2012 (PDF - Agence du ...

S
Service standard – A public statement of the level of performance that citizens can expect to encounter from the CRA under
normal circumstances.
Set-off – A service provided by the CRA that allows tax refunds and GST/HST credits for individuals to be transferred (set off)
to pay debts owed to other federal, provincial, or territorial government programs.
Small enterprises – Individuals who are in business, trusts, and private corporations with less than $1 million in annual
revenues.
SR&ED – Scientific Research and Experimental Development
Strategic outcome – A description of the difference an organization is mandated to make that provides long-term benefits
to Canadians.
SSC – Shared Services Canada
T
Tax alert – A tax alert is a media product used by the CRA when it wishes to communicate matters of particular importance
to Canadians that are normally time-sensitive and aimed at protecting their interest and providing important information
that could directly affect them. This may include information on tax shelters, investments, tax strategies, and fraud that
targets taxpayers.
Tax debt – Taxes and other revenues assessed or estimated by the CRA but not yet collected.
Tax-free savings account for individuals (TFSA) – Since January 1, 2009, Canadian residents who are 18 years of age or
older with a valid Social insurance number are eligible to contribute up to $5,000 annually to a Tax-free savings account.
Taxpayer relief provisions – Legislation introduced in the early 1990s that provides relief (e.g., forgiveness of interest and
penalties) to taxpayers in specific circumstances beyond their control.
Taxpayer segments – Groups of taxpayers who have common compliance requirements and characteristics, service needs,
preferences for accessing information or services, or expectations of the CRA, such as individuals; small, medium, and large
businesses, both incorporated and unincorporated; and charities.
Tax shelter – Tax shelters are defined in the Income Tax Act. In very general terms, a tax shelter includes either a gifting
arrangement or the acquisition of property where it is represented to the purchaser or donor that the tax benefits and
deductions arising from the arrangement or acquisition will equal or exceed the net costs of entering into the arrangement
or the property. Also, a gifting arrangement where the donor incurs a limited recourse debt related to the gift is considered
to be a tax shelter. Generally, a limited recourse debt is one where the borrower is not at risk for the repayment.
TC – Tax centre
TSO – Tax services office
T1 – Income tax return for individual
T2 – Corporation income tax return
T3 – Trust return
ANNUAL REPORT
2011-2012
CANADA REVENUE AGENCY