3 Canadian tax & accounting terms starting with M
Plain-language definitions, each with the CRA rule it comes from and the filings it affects.
Marginal Tax Rate
Your marginal tax rate is the rate of tax you pay on your next dollar of income, which rises as income moves through Canada's progressive tax brackets.
Medical Expense Tax Credit
The medical expense tax credit is a non-refundable credit for eligible medical costs exceeding a threshold, reducing the tax of individuals and families with significant health expenses.
Minute Book
A minute book is the official record of a corporation's key documents and decisions, including its articles, bylaws, registers of directors and shareholders, and resolutions.
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