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Canada Education Savings Grant (CESG) - The Canada Education Savings
Grant (CESG) program allows eligible RESP beneficiaries to receive grant
monies based on annual contributions paid into the plan. The federal government
will contribute 20% annually on the first $2,500 deposited into an RESP
for children up to the end of the year they attain 17 years of age.
The maximum grant, per beneficiary, that can be received is $7,200.
Capital Gain or Loss - The difference between the selling price
and the initial purchase price of an asset.
Commuted Value - The actuarial present value of a deferred pension
calculated at the employee's termination date.
Compliance Officer - The officer that oversees trading, administration
and other activities to ensure that regulations are being adhered.
Connected Person - Generally, a person who together with other
non-arm's length persons, owns at least 10% of the employer's shares,
or a person who does not deal at arm's length with the employer.
Consumer Price Index - Published by Statistics Canada, it is a
measure of the rate of price change for goods and services bought by Canadian
consumers.
Contributory Plan - A plan in which both the employee and the
sponsor make contributions into the plan. |
