cash damming
n.— «Last week the CRA did bless another method of interest deductibility known in tax parlance as “cash damming.” Let’s say you’re self-employed and you’ve got one bank account in which you deposit your sales revenues and also conduct your daily personal banking. You decide to use the money in this account to make your monthly mortgage payments. At the same time, you establish a business line of credit at the bank and use this line to pay all your business expenses.» —“If you want to deduct interest, move to the United States” by Jamie Golombek National Post (Don Mills, Ontario, Canada) Sept. 8, 2007. (source: Double-Tongued Dictionary)
Further reading
If you speak a second or third language, you may remember the first time you dreamed in that new tongue. But does this milestone mean you’re actually fluent? And a couple’s dispute over the word regret: Say you wish you’d been able...
While reading Great Expectations (Bookshop|Amazon) by Charles Dickens, a listener in Arlington, Texas, is surprised when one of the characters inherits some money, which Dickens describes as a cool four thousand. Were they really using cool that way...