Glossary: V

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Vacation Pay

Vacation pay is the percentage of earnings an employer must pay employees for vacation time, set by provincial employmen…

Variable Cost

A variable cost is an expense that rises and falls in direct proportion to how much a business produces or sells, such a…

Venture Capital

Venture capital is financing that investment firms provide to high-growth startups in exchange for equity, betting on la…

Voluntary Disclosures Program (VDP)

The VDP lets taxpayers correct past tax errors or omissions before the CRA contacts them, potentially reducing penalties…

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