Friday, 3 May 2024, 8:01 PM
Site: RRU Open Educational Resources
Course: Give Green Canada (Give Green Canada)
Glossary: Here is a Helpful Glossary of Gift Planning
T
Tax creditAn amount calculated under the Income Tax Act which is subtracted from tax otherwise owing. |
Taxable incomeNet income less certain allowable deductions such as capital losses and capital gains deductions. |
Term insuranceLife insurance written for a specific period that pays a death benefit if the insured dies within that period. |
Testamentary giftA gift that takes effect upon the donor's death. For example, a gift in the donor's will. |