Glossary: N

abcdefghijklmnopqrstuvwxyz

Net Book Value

Net book value is an asset's original cost minus its accumulated depreciation, the amount at which it is carried on the …

Net Income

Net income is a business's profit after all expenses, the bottom line remaining once revenue is reduced by cost of sales…

Net Pay

Net pay is the amount an employee actually receives after income tax, CPP, EI and any other deductions are subtracted fr…

Non-Capital Loss

A non-capital loss is a business or property loss that can be carried back three years or forward twenty to offset incom…

Non-Eligible Dividend

A non-eligible dividend is a dividend paid from corporate income taxed at the small business rate, carrying a smaller gr…

Notice of Assessment (NOA)

A Notice of Assessment is the CRA's official summary of your filed tax return, confirming the tax, refund or balance owi…

Notice of Objection

A Notice of Objection is the formal way to dispute a CRA assessment or reassessment, filed within 90 days to have the ma…

Notice to Reader (NTR)

A Notice to Reader, now called a compilation engagement, is financial statements assembled by an accountant from informa…

Free 15 Min Consultation for Businesses

Ready to get started with Tax & Accounting?

Talk to a professional tax accountant about your situation. No obligation, and you only pay once the work is complete and you have approved it.

  • Tax accountant led team
  • Fixed fees, no hourly billing
  • Pay only after you approve