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Politics : Canadian Political Free-for-All
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To: GerPol who wrote (82)10/31/2000 10:49:41 AM
From: SofaSpud  Read Replies (2) of 37153
 
"Deferred taxes" is the accounting term used to quantify the discrepancy between depreciation according to GAAP (Generally Accepted Accounting Principles) and the income tax CCA (Capital Cost Allowance) rates. It's a fudge factor to make the books balance.

I've always wondered why opposition politicians make such a big deal over "deferred taxes". It couldn't be that people think that it's an actual amount somehow owing?
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