Source Deductions definition

Source Deductions means amounts deductible by an employer from Source Deductions with respect to income taxes, Canada Pension Plan contributions, or amounts payable as contributions to any health or benefit plan, or such other applicable statutory deductions that may from time to time be applicable;
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Source Deductions means any amount referred to in subsections 11.09(1)(a) and (b) of the CCAA.
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Source Deductions means amounts deductible by an employer from Pre-Tax Earnings with respect to income taxes, Canada Pension Plan contributions, Quebec Pension Plan, Quebec Parental Insurance Plan, Employment Insurance contributions or amounts payable as contributions to any health or benefit plan, or such other statutory deductions that may from time to time be applicable;
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Examples of Source Deductions in a sentence

  • Employers have to take deductions for both the QPIP and employment insurance (EI), if the employment is insurable.Send the QPP, QPIP, and Quebec provincial income tax deductions to Revenu Québec, and send the CPP, EI and federal tax deductions to the CRA.If you need more information, you can get the Quebec Guide TP-1015.G-V, Guide for Employers: Source Deductions and Contributions by visiting Revenu Québecat revenuquebec.ca/en/default.aspx, or you can write to them at, 3800 rue de Marly, Québec QC G1X 4A5.

  • The Québec income tax, QPP contributions and QPIP premiums you withhold from the remuneration you pay and your employer QPP contributions, QPIP premiums and contributions to the health services fund must be remitted to us periodically using the Remittance of Source Deductions and Employer Contributions (form TPZ-1015.R.14.1-V, TPZ-1015.R.14.2-V, TPZ-1015.R.14.3-V or TPZ-1015.R.14.4-V, according to your remittance frequency).

  • Liability for Unpaid Source Deductions: Under the Income Tax Act, corporations must deduct or withhold certain amounts from payments it makes and to remit such amounts to the Receiver General.

  • Quebec residents must also complete Revenu Quebec Form TP-1016-V, Application for a Reduction in Source Deductions of Income Tax for an Individual or a Self-Employed Person.4Note that if your employer allows you to make RRSP contributions through payroll deductions, you won’t even need to file the CRA (or Revenu Quebec) forms.

  • Do not include any amounts relating to the payment of the occupational health and safety insurance premium with the remittance slip.To report and remit amounts for the CNESST, use the remittance slip attached to the Remittance of Source Deductions and Employer Contributions (form TPZ-1015.R.14.1-V, TPZ-1015.R.14.2-V, TPZ-1015.R.14.3-V or TPZ-1015.R.14.4-V,according to your remittance frequency) that we have sent you.

  • Substantial noncompliance “should be measured by both the degree of noncompliance and the weight assigned to that requirement.” In re Valentine, 79 S.W.3d at 548.

  • The amount you have to enter for a remittance period is generally the amount you entered in box E of the Remittance of Source Deductions and Employer Contributions (form TPZ-1015.R.14.1-V, TPZ-1015.R.14.2-V, TPZ-1015.R.14.3-V or TPZ-1015.R.14.4-V, according to your remittance frequency).Do not include the periodic CNESST payments (relating to occupational health and safety) that you make to Revenu Québec.Check any pre-printed amounts that are shown in Part 1 of the summary.

  • In this situation, the employee cannot request a reduction in source deductions of income tax by filing form TP-1016-V, Applicationfor a Reduction in Source Deductions of Income Tax, and you cannot reduce the amount of income tax you withhold.

  • Source Deductions Interest and dividends, collected by the Fund, may be subject to non-recoverable source deductions in the country of origin.

  • Once the ‘CRA Remittances Form’ has been completed, the Statement of Account for Current Source Deductions (PD7A Form) is filled out.


More Definitions of Source Deductions

Source Deductions means an amount in respect of Taxes (including withholding Taxes) that if not paid (in respect of either of the Companies’ portion) or withheld and remitted (in respect of any other Person’s portion), in accordance with applicable law could give rise to a liability of either of the Companies under subsection 224(1.2) of the Income Tax Act (Canada), the corresponding provisions of the Excise Tax Act (Canada), Canada Pension Plan Act (Canada) or the Employment Insurance Act (Canada), any corresponding laws in respect of Taxes of a Canadian province or Part XIII of the Income Tax Act (Canada).
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Related to Source Deductions

  • Agreed Deductions means any deductions the Agency Worker has agreed can be made from their pay;

  • Allowable Deductions means the following costs, charges, and expenses incurred or accrued by Payor:

  • Nonrecourse Deductions has the meaning set forth in Section 1.704-2(b)(1) of the Regulations.

  • Member Nonrecourse Deductions has the meaning of “partner nonrecourse deductions” set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

  • Partner Nonrecourse Deductions means any and all items of loss, deduction or expenditure (including, without limitation, any expenditure described in Section 705(a)(2)(B) of the Code) that, in accordance with the principles of Treasury Regulation Section 1.704-2(i), are attributable to a Partner Nonrecourse Debt.

  • Transaction Deductions means with respect to the Company, the sum of all items of loss or deduction for U.S. federal, state and local income tax purposes, resulting from or attributable to (a) the Option Deductions, (b) bonuses paid or accrued as of the Closing Date and (c) the payment of legal, accounting, investment banking and other fees and expenses of the Company incurred in connection with the transactions contemplated hereby including, without limitation, the Transaction Expenses.

  • Nonrecourse Deduction shall have the meaning given such term in Regulations Section 1.704-2(b)(1).

  • Member Nonrecourse Deduction means “partner nonrecourse deduction” as defined in Treasury Regulations Section 1.704-2(i), substituting the term “Member” for the term “partner” as the context requires.

  • own-source revenue means adjusted underlying revenue other than revenue that is not under the control of council (including government grants)

  • Tax Items shall have the meaning set forth in Section 6.4.A.

  • Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

  • Volumetric Production Payments means production payment obligations recorded as deferred revenue in accordance with GAAP, together with all undertakings and obligations in connection therewith.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Gross Profits means the gross profits calculated under section 4;

  • Permitted Deductions means the sum of, without duplication, the following costs or expenses:

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Adjusted gross receipts means the gross receipts less winnings paid to wagerers.

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.

  • Net Sales Proceeds means, in the case of a transaction described in clause (i)(A) of the definition of Sale, the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including all real estate commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(B) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (i)(C) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction actually distributed to the Company or the Operating Partnership from the Joint Venture less the amount of any selling expenses, including legal fees and expenses incurred by or on behalf of the Company (other than those paid by the Joint Venture). In the case of a transaction or series of transactions described in clause (i)(D) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction (including the aggregate of all payments under a Mortgage on or in satisfaction thereof other than regularly scheduled interest payments) less the amount of selling expenses incurred by or on behalf of the Company, including all commissions, closing costs and legal fees and expenses. In the case of a transaction described in clause (i)(E) of the definition of Sale, Net Sales Proceeds means the proceeds of any such transaction less the amount of selling expenses incurred by or on behalf of the Company, including any legal fees and expenses and other selling expenses incurred in connection with such transaction. In the case of a transaction described in clause (ii) of the definition of Sale, Net Sales Proceeds means the proceeds of such transaction or series of transactions less all amounts generated thereby which are reinvested in one (1) or more Assets within one hundred eighty (180) days thereafter and less the amount of any real estate commissions, closing costs, and legal fees and expenses and other selling expenses incurred by or allocated to the Company or the Operating Partnership in connection with such transaction or series of transactions. Net Sales Proceeds shall also include Refinancing Proceeds and any other amounts that the Company determines, in its discretion, to be economically equivalent to proceeds of a Sale. Net Sales Proceeds shall not include any reserves established by the Company, which shall be determined by the Board in its sole discretion.

  • Gross Sales Proceeds with respect to each sale of Shares shall be the Gross Sales Price multiplied by the number of Shares sold;

  • Joint Return means any Return of a member of the Parent Group or the SpinCo Group that is not a Separate Return.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Tax Credits means any and all (a) investment tax credits, (b) production tax credits and (c) similar tax credits or grants under federal, state or local law relating to the construction, ownership or production of energy from the System.

  • After-Tax Contributions means amounts withheld from an Employee’s Compensation pursuant to a Salary Reduction Agreement after all applicable state and federal taxes have been deducted. Such amounts are withheld for purposes of purchasing one or more of the Benefit Package Options available under the Plan.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.