Your All-in-One Canadian Financial Dictionary
Breakeven Point
The point where you’re not making or losing money. Your total income matches your total costs/expenses
Broker
A person or company that buys and sells investments for you. They act as a middleman and usually charge a fee or commission for the service.
Budget
A plan for your money. It shows how much you expect to earn, how much you’ll spend, and helps you stay in control of your finances.
Bull Market
A market characterized by rising prices and investor confidence. During a bull market, economic fundamentals are strong, and investors are optimistic about future growth.
Business number (BN)
A unique ID given to your business by the Canada Revenue Agency. It’s used for taxes and other official business matters.
Canada Pension Plan (CPP)
A government program that pays you income when you retire, or supports you (or your family) if you become disabled or pass away. You pay into it while you work in Canada.
Canada Revenue Agency (CRA)
The federal government agency is responsible for taxes in Canada, including collecting them, processing returns, and enforcing tax laws.
Capital gain or loss
The profit (gain) or loss you make when you sell something for more or less than you paid for it. This often applies to investments like stocks or property.
Cash interest
Interest charged right away when you take cash from your credit card (like ATM withdrawals or balance transfers). There’s no grace period, it starts building from day one.
Cheque
A written instruction telling your bank to pay someone from your account. It’s less common today but still used for some payments.