CRA

Also written as canada revenue agency.

Definition

Canada Revenue Agency. The federal body that administers income tax, GST/HST, payroll source deductions, and most credits.

Related terms

T2 return

The federal corporate income tax return. Every incorporated Canadian corporation files annually, even when inactive.

GST

Goods and Services Tax. The 5% federal value-added tax on most supplies of goods and services in Canada.

CRA, Glossary | Ledg