Defining those obscure payroll termsPayroll terminology may seem similar, but differences are majorBy Sheila Brawn07/01/2018|Canadian Payroll Reporter|Last Updated: 06/25/2018Some payroll terms may not come up as frequently, but are still important to understand. Shutterstock Pensionable. Insurable. Taxable. Source deductions. These are all terms that payroll professionals get to know very quickly when they begin working. After all, understanding key terms and phrases is essential for complying with federal payroll deductions rules.Yet, there are other terms that may not come up as frequently, but that are just as important to understand. Here is a brief refresher of some payroll terms and phrases that may seem similar, but have important differences: To Read the Full Story, Subscribe or Sign In Remember Me Forgot Password If you are a current Subscriber, please click here to set-up or update your login information.