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D
Debt Servicing and Reduction Account
(Compte de service
et de réduction de la dette).
This account enables Canadians to make direct contributions to reduce
the federal debt. Deposits to the Account are used to pay the interest
and principal on the federal debt. In addition to contributions from
individuals or businesses, the Account is credited with net revenues from
the goods and services tax (GST) and net
proceeds from the sale of Crown corporations.
All donations are eligible for a charitable receipt at the same level as
other registered charities.
Donations can be sent to:
The Receiver General for Canada
Public Works and Government Services Canada
12B1, Place du Portage, Phase III
Hull, Quebec
K1A 0S5
debt-to-GDP ratio (rapport
de la dette au PIB).
Measurement of the federal debt as a percentage of Canada's gross
domestic product. It is a measure of the debt in relation to the
economy and of our capacity to carry and repay debt.
deferred profit-sharing plan (DPSP) (régime
de participation différée aux bénéfices (RPDB)).
Plan registered under the Income Tax Act into which an employer
may make tax-deductible
contributions, determined by reference to profits, on behalf of their
employees. Payments from the plan received by employees are taxable.
deficit (déficit).
The amount by which government budgetary
spending exceeds revenues in any given year.
defined benefit pension plan (régime
à prestations déterminées).
Plan that provides a pension that is generally calculated on the basis
of final average or best average earnings and years of service. The amount
of defined benefit pension that can be provided under a plan registered
under the Income Tax Act is limited, in general terms, to the lesser of 2
per cent of the employee's best average earnings and $1,722 per year of
service. The $1,722 limit will be indexed to increases in the average wage
starting in 2005.
deflation (déflation).
The average rate of decrease in prices.
See also inflation.
demutualization (démutualisation).
The process of converting from a mutual company to a stock company. A
mutual company is owned by its voting policyholders while a stock company
is owned by its shareholders. For more information, visit the Canada Revenue Agency Demutualization
- Questions and Answers page.
Department of Finance (ministère
des Finances).
The federal department primarily responsible for providing the
government with analysis and advice on the broad economic and financial
affairs of Canada. Its responsibilities include preparing the federal
budget, preparing tax and tariff
legislation, managing federal borrowing on financial markets and
representing Canada within international financial
institutions. To fulfill the department's role, Finance officials
monitor and research the performance of the Canadian economy in all
important aspects: output and growth, employment
and income, price
stability and monetary policy, and
long-term structural change. The
department is also vitally concerned with trade, monetary affairs and
other aspects of the global economy that bear on Canada's domestic
performance.
deposit-taking institution
(institution de dépôt).
A bank, trust
company, credit union, caisse populaire
or other financial institution that
accepts deposits from the public and provides regular banking services such
as chequing and savings accounts.
disability tax credit (crédit
d'impôt pour personnes handicapées).
A credit that reduces federal income tax by up to $960
for taxpayers with a severe and prolonged physical or mental disability.
It is one of the key existing tax mechanisms for recognizing the costs of
disability.
discount note (bon
à prime).
Short-term debt security where the yield is provided through a
discounted selling price relative to the face value of the note.
dissaving (désépargne).
The amount by which consumer
spending exceeds disposable income
over a given period. It means that an individual, or all individuals, are
either using accumulated wealth to make purchases or are taking out loans.
drawback (remboursement).
Refund, in whole or in part, of import duties and/or taxes paid on
imported goods that are subsequently exported in essentially the same
condition or used in the manufacture of exported goods.
dumping (dumping).
Dumping occurs when foreign exporters sell their goods in international
markets at prices lower than the price in their home market (referred to
as "normal value"), or at prices below the cost of production.
Countries are allowed to impose anti-dumping
duties equivalent to the margin of dumping if it is determined,
through a process of investigation, that the dumped imports are causing,
or threatening to cause, material injury to domestic producers of the same
product.
duty remission (remise
de droits).
Conditional or unconditional waiver, in whole or in part, of import
duties or taxes on imported goods. It is generally introduced only in
exceptional circumstances where a genuine need for tariff
relief has been clearly demonstrated. Duty remissions are sometimes used
to rectify short-term anomalies or inequities in the tariff structure.
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