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Glossary term
Locked-in Pension (LIRA)
Locked-in Retirement Account (LIRA) — created when transferring from an employer DB/DC pension plan. Cannot withdraw before age 55 (provincial vary). At retirement converts to LIF / annuity. Some provinces allow 50% one-time unlock.
Related terms
RDSP
Registered Disability Savings Plan — tax-deferred account for people with Disability Tax Credit (DTC). Govern…
DTC
Disability Tax Credit — non-refundable federal tax credit for people with severe + prolonged impairment. Appr…
Tax-loss harvesting
Strategy: sell an investment at a paper loss in a non-registered account to realize the capital loss, then bu…
Superficial loss rule
CRA anti-abuse rule: if you sell a security at a loss and re-buy 'identical property' within 30 days (before…
GST/HST registration
Goods and Services Tax / Harmonized Sales Tax registration — federal value-added tax. Self-employed / busines…
YMPE / YAMPE
YMPE (Year's Maximum Pensionable Earnings, $73,200 in 2026) — primary CPP cap. YAMPE ($83,200 in 2026) — seco…
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