Glossary – T

Canadian System of National Accounts glossary index – T

Canadian System of National Accounts glossary – T
Term Description
Tangible assets The asset categories of dwellings; other buildings and structures; machinery and equipment; weapons systems; inventories and cultivated biological resources. Other asset categories may have tangible and intangible components, such as natural resources, where minerals are tangible assets and the electromagnetic frequency spectrum is an intangible asset.
 
Component of: Non-produced assets

Source: System of National Accounts 2008, paragraph 10.67

French: Actifs corporels
Tangible non-produced assets The asset category of natural resources and land. Other non-produced asset categories may not contain tangible asset components.
 
Source: Public Sector Statistics, Catalogue no. 68-213

French: Actifs corporels non produits
Tax Compulsory, unrequited payments, in cash or in kind, made by institutional units to government units. They are described as unrequited transfers because the government provides nothing directly in return to the individual unit paying the tax, although governments do provide goods and services to the community as a whole or to individual units, or groups of units, depending on their general economic and social policy.

See also: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 7.71

French: Impôts
Tax assessment An estimate, made by the taxpayer or the tax authority, of tax due.
 
Tax credit An amount deductible from the tax that otherwise would be payable.
 
Taxes less subsidies on factors of production Difference between taxes on factors of production and subsidies on factors of production. These taxes and subsidies are payable (received) regardless of the quantity or value of the goods and services produced or sold.
 
Taxes less subsidies on production Taxes payable less subsidies receivable on goods or services produced as outputs and other taxes or subsidies on production, such as those payable on the labour, machinery, buildings or other assets used in production. Taxes on production and imports do not include any income taxes payable by the recipients of incomes accruing from production, whether employers or employees.

See also: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
 
Source: System of National Accounts 2008, paragraph 7.5

French: Impôts sur la production moins les subventions
Taxes less subsidies on products The difference between taxes on products and subsidies on products. These taxes and subsidies are payable (received) based on the quantity or value of the goods and services produced or sold.
 
Taxes on factors of production Mandatory payments without consideration, in cash or in kind, collected by government. They apply to production and the import of goods and services, employment of labour and ownership or use of land, structures and other assets used for production purposes. They are payable regardless of the quantity or value of the goods and services produced or sold.
 
Taxes on income Taxes on income, profits and capital gains.
 
Taxes on production See taxes less subsidies on production and imports.
 
Taxes on production and imports Taxes payable on goods and services when they are produced, delivered, sold, transferred or otherwise disposed of by their producers plus taxes and duties on imports that become payable when goods enter the economic territory by crossing the frontier or when services are delivered to resident units by non-resident units. They also include other taxes on production.

See also: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 7.2

French: Taxes sur la production et les importations
Taxes on production, other Taxes other than those incurred directly as a result of engaging in production, they mainly consist of current taxes on the labour or capital employed in the enterprise, such as payroll taxes or current taxes on vehicles or buildings.

See also: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
Taxes on products A tax that is payable per unit of some good or service. The tax may be a specific amount of money per unit of quantity of a good or service (the quantity units being measured either in terms of discrete units or continuous physical variables such as volume, weight, strength, distance, time, etc.), or it may be calculated ad valorem as a specified percentage of the price per unit or value of the goods or services transacted. A tax on a product usually becomes payable when it is produced, sold or imported, but it may also become payable in other circumstances, such as when a good is exported, leased, transferred, delivered, or used for own consumption or own capital formation.

See also: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 88

French: Impôts sur les produits
Tax liability The amount of tax owed by a taxpayer.
 
Tax margin The total of taxes on products applicable to the intermediate or final use of a particular good or service. A tax margin is estimated for each good and service used by each industry and by each category of final demand, showing the total amount of taxes on products paid on the purchase of the good or service. The total tax margin for an industry, or for a final demand category, is the total of such margins paid on all goods and services consumed.
 
Tax refund Repayment of tax overpayments by the tax authority.
 
Terms of trade The ratio of the price of exports to the price of imports.
 
Source: System of National Accounts 2008, paragraph 15.187

French: Termes de l'échange
Term to maturity Fixed period of time corresponding to the lifetime of a security. The term to maturity corresponds to the period of time between the date at which the security is issued (original term to maturity) or is outstanding (remaining term to maturity) and the date at which the security is redeemable (maturity date).
 
Territorial enclaves Clearly demarcated land areas (embassies, consulates, military bases, scientific stations, information or immigration offices, aid agencies, central bank representative offices with diplomatic immunity, etc.) located in other territories and used by governments that own or rent them for diplomatic, military, scientific, or other purposes with the formal agreement of governments of the territories where the land areas are physically located.

See also: Economic territory, Customs basis; Classification of the economic territory of Canada
 
Source: System of National Accounts 2008, paragraph 4.1

French: Enclaves territoriales
Total compensation per hour worked The ratio of the total labour compensation for all jobs to the number of hours worked.
 
Total economy The entire set of resident institutional units; grouped into five mutually exclusive institutional sectors: households, non-financial corporations, financial corporations, government, non-profit institutions serving households

See also: Institutional sectors
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 4.23

French: Ensemble de l'économie
Total labour compensation All payments in cash or in kind made by domestic producers to workers for services rendered, in other words, total payroll. It includes the salaries and supplementary labour income of paid workers, plus an imputed labour income for self-employed workers.
 
Tourism The activities of persons travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business or other purposes.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Reference: Canadian Tourism Satellite Account Handbook, Catalogue no. 13-604, no. 52; About gross domestic product, About the tourism account

Source: World Tourism Organization and the United Nations Statistical Commission.

French: Tourisme
Tourism commodity A commodity for which a significant part of its total demand in Canada comes from visitors.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism demand The spending of Canadian and non-resident visitors on domestically produced commodities. It is the sum of tourism domestic demand and tourism exports.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism domestic demand The spending in Canada by Canadian visitors on domestically produced commodities.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism domestic supply The total production in Canada of the tourism commodities which are mainly produced by tourism industries. Not all of domestic supply is purchased by visitors, so that supply exceeds tourism demand. For example, visitors purchase only a small proportion of food and beverage services, as most is attributed to local consumption. Supply does not include imports. For example, the sale of a ticket on a non-Canadian airline is excluded from supply.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism employment A measure of employment in tourism and non-tourism industries. It is based on an estimate of jobs rather than "hours of work". Thus, someone who works 10 hours a week counts for as much, by this measure, as someone who works 50 hours a week.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Human Resource Module of the Tourism Satellite Account, Update to 2006, Catalogue no. 13-604, no. 59
 
Tourism exports Spending by foreign visitors on Canadian-produced goods and services. It includes spending that may take place outside of Canada, for instance, the purchase of an airline ticket from a Canadian international carrier, to travel to Canada.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism gross domestic product The total unduplicated value of production, within the boundaries of a region, of goods and services purchased by tourists. In the Canadian Tourism Satellite Account, gross domestic product is calculated at basic prices and includes only direct gross domestic product. Gross domestic product is also generated indirectly in the upstream production chain of goods and services. Although these affects can be linked to tourism, they are not included in gross domestic product.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism gross domestic product ratio This ratio is calculated by taking the tourism gross domestic product and comparing it to the total gross domestic product of the industry. It measures how much of the production of a certain industry is attributable to tourism.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism imports Spending on foreign-produced goods and services by Canadian tourist while travelling outside Canada.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism industry An industry that would cease to exist or would continue to exist at significantly reduced levels of activity in the absence of tourism.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism industry ratio The ratio of the tourism demand for all tourism commodities produced in a given industry to its output of those commodities. This ratio is used for internal calculations in the compilation of the Canadian Tourism Satellite Accounts at the detailed (unpublished) level. It is used specifically in the calculation, by industry, of gross domestic product and employment that is attributable to tourism.

See also: Concepts, Sources and Methods of the Canadian System of Environmental and Resources Accounts, Catalogue no. 16-505
 
Tourism satellite account An accounting framework, based on the System of National Accounts, that serves to define tourism and is used to compile and integrate statistics on tourism, to measure its importance to the economy, and to facilitate its comparison with other industries within the economy.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Tourism single-purpose consumer durables (pre-trip expenditures) In the Canadian Tourism Satellite Accounts, five single-purpose consumer goods used chiefly for travel (motor homes, travel and tent trailers, luggage and travel sets, tents and camping equipment and sleeping bags) are included, irrespective of when they are bought.

See also: Guide to the National Tourism Indicators, Catalogue no. 13-594; Canadian tourism satellite account, 2004, Catalogue no. 13-604, no. 63
 
Trade accounts receivable or payable Short-term credit advanced or received in the ordinary course of business by suppliers or buyers of business goods and services.
 
Trade flows The interprovincial trade flows (IPTF) table shows the values of goods and services flowing into and out of each province, both domestically and internationally. The concept of a trade flow is as follows: a trade flow is constituted by the sale of commodities from a province or territory or abroad to another province or territory or abroad. Exports can originate from a province/territory if the goods or services are produced in that province/territory or withdrawn from inventories of establishment in that province or territory. The province or territory of export or import refers to the ultimate province or territory of origin and destination rather than the port of lading or the provinces/territories where goods are trans-shipped. An export also occurs when goods and services are purchased within a province or territory by non-residents while staying there (e.g., hotel accommodation, meals or entertainment). Similarly, imports are defined for a province or territory if the goods or services are destined for the province or territory's current expenditure, for capital formation, used as intermediate inputs by establishments in that province or territory or make up additions to inventories. Goods that are shipped into a province/territory but destined for another do not constitute imports.
 
Trade margin The difference between the actual or imputed price realized on a good purchased for resale (either wholesale or retail) and the price that would have to be paid by the distributor to replace the good at the time it is sold or otherwise disposed of.
 
Trading day adjustment A smoothing procedure which alters the distribution of monthly output to reflect changes in production that would occur if all months contained the same number and same type of working days.
 
Transaction An economic flow that is an interaction between institutional units by mutual agreement, or an action within an institutional unit for which it is analytically useful to treat as a transaction, often because the unit is operating in two different capacities. A monetary transaction is where an institutional unit makes a payment (receives a payment) or incurs a liability (receives an asset) stated in units of currency. Non-monetary transactions are transactions that are not initially stated in units of currency.

See also: Production account, Input-Output Accounts; Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547; Canada's International Investment Position, Catalogue no. 67-202
 
Source: System of National Accounts 2008, paragraphs 3.55, 3.75

French: Opération
Transaction value Value that refers in a broad sense to the actual prices (or market prices) agreed upon by transactors and is generally used to record transactions in the balance of payments. In the absence of a market price, for example, when there is a direct exchange of goods rather than money, for other goods, substitute measures have to be estimated, usually by analogy with known market prices of equivalent transactions.

See also: Canada's Balance of Payments and International Investment Position, Concepts, Methods, Sources and Products, Catalogue no. 67-506
 
Transactor principle There are two principles that may serve as the basis for geographic allocation of financial flows: the debtor/creditor principle and the transactor principle. Under the transactor principle, transactions resulting from changes in the claims and liabilities are allocated to the country of residence of the non-resident party to the transaction (the transactor), even if this is not the country of residence of the direct investment enterprise or direct investor.

See also: Debtor principle
 
Transactors Economic agents who engage in transactions involving the purchase and sale of goods and services and the payment and receipt of factor incomes and transfers.
 
Source: Guide to the Income and Expenditure Accounts, Catalogue no. 13-017

French: Agents
Transfer A transaction in which one institutional unit provides a good, service, or asset to another unit without receiving from the latter any good, service or asset in return as a direct counterpart. Transfers are separated into current transfers and capital transfers.

See also: Classification of government revenues and expenditures in Financial Management System, Catalogue no. 68F0023
 
Reference: Gross Domestic Product by Industry, Sources and Methods, Catalogue no. 15-547

Source: System of National Accounts 2008, paragraph 8.10

Notes: Synonym of transfer payments.

French: Transfert
Transfer payments See transfer.
 
Transport margin Transport charges paid separately by the purchaser in taking delivery of the goods at the required time and place.
 
Trend Variation in a monthly economic time series which remains relatively stable in terms of general direction over a long period of time.
 
Trustee The fiduciary appointed to oversee the day-to-day management of property owned by a trust. A trustee can be an individual, an institution, such as a bank or trust company, or a combination of both. A trust is a fiduciary relationship in which individuals (at least three) or a trust company hold title to the assets of the fund in accordance with the trust agreement, for the benefit of the plan members.

See also: Classification of Institutional Units by Sectors
 
Source: Guide to the Pension Satellite Account, Catalogue no. 13-599

French: Fiduciaire
Trust fund A fund of financial assets held in trust for a beneficiary or beneficiaries.
 
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