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. Self-Employed

    A situation in which an individual works for himself or herself ...
  3. Tax Fairness

    A tax platform based on an ideal that aims to create a system ...
  4. Deduction

    Any item or expenditure subtracted from gross income to reduce ...
  5. Tax Return

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

    An amount of money that a taxpayer is able to subtract from the ...
Related Articles
  1. Savings

    Tax-Saving Tips For Canadian Taxpayers

    Find out how to get a bigger return.
  2. Taxes

    IRA Contributions: Deductions and Tax Credits

    We outline the incentives and help you take full advantage of the benefits.
  3. Entrepreneurship

    10 Tax Benefits For The Self-Employed

    Running your own business has both personal and financial perks.
  4. Taxes

    5 Tax Credits You Shouldn't Miss

    If you're not taking advantage of these deductions, you could be missing out on tax savings.
  5. Taxes

    10 Most Overlooked Tax Deductions

    The receipts you cram into your wallet could be replaced with cash come tax season.
  6. Taxes

    How To Deduct All Of Your Charitable Donations?

    Donations made to charitable organizations can reduce your taxable income, thus your overall tax bill. But not all donations qualify to be deductable.
  7. Taxes

    What is Value-Added Tax (VAT) and who pays it?

    Learn about the definition of value-added tax, the necessary circumstances that require a business to pay it and when a business is exempt.
  8. Taxes

    What is the difference between gross income and earned income?

    Being able to distinguish between earned income and gross income is an important tool in preparing for and filing your individual tax returns each year.
  9. Taxes

    What are the differences among gross income, adjusted gross income and modified adjusted gross income?

    Discover how calculating total taxable income is easier when gross income, adjusted gross income and modified adjusted gross income are fully understood.
  10. Taxes

    What is the difference between gross income and taxable income?

    Understanding common tax terms including gross income and taxable income can help individuals navigate tax accounting in an efficient way.

You May Also Like

Hot Definitions
  1. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  2. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
  3. Fixed Asset

    A long-term tangible piece of property that a firm owns and uses in the production of its income and is not expected to be ...
  4. Break-Even Analysis

    An analysis to determine the point at which revenue received equals the costs associated with receiving the revenue. Break-even ...
  5. Key Performance Indicators - KPI

    A set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their ...
  6. Bank Guarantee

    A guarantee from a lending institution ensuring that the liabilities of a debtor will be met. In other words, if the debtor ...
Trading Center