Provincial Parental Insurance Plan - PPIP

AAA

DEFINITION of 'Provincial Parental Insurance Plan - PPIP'

A Canadian tax deduction relating to taxes that are paid or payable on regular or self-employed income. The Provincial Parental Insurance Plan (PPIP) gives maternity, paternity, parental and adoption benefits to qualified persons. This aid is to support and encourage parents staying home with their children for the first year of the child's life.

INVESTOPEDIA EXPLAINS 'Provincial Parental Insurance Plan - PPIP'

The province of Quebec has a different plan called the Quebec Parental Insurance Plan (QPIP). The plan is in place for the same reasons, but has differing rules, regulations and tax implications.

RELATED TERMS
  1. Income Tax

    A tax that governments impose on financial income generated by ...
  2. Deduction

    Any item or expenditure subtracted from gross income to reduce ...
  3. Tax Credit

    An amount of money that a taxpayer is able to subtract from the ...
  4. Tax Return

    1. The tax form or forms used to file income taxes with the Internal ...
  5. Tax Fairness

    A tax platform based on an ideal that aims to create a system ...
  6. Self-Employed

    A situation in which an individual works for himself or herself ...
Related Articles
  1. Tax-Saving Tips For Canadian Taxpayers
    Savings

    Tax-Saving Tips For Canadian Taxpayers

  2. IRA Contributions: Deductions and Tax ...
    Taxes

    IRA Contributions: Deductions and Tax ...

  3. 10 Tax Benefits For The Self-Employed ...
    Entrepreneurship

    10 Tax Benefits For The Self-Employed ...

  4. 5 Tax Credits You Shouldn't Miss
    Taxes

    5 Tax Credits You Shouldn't Miss

Hot Definitions
  1. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  2. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  3. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  4. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  5. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  6. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
Trading Center