Cancels one last climb to go up in local taxes (9)

'cancels' is the definition.
The answer and definition can be both to do with social activities as well as being verbs in their -s form.
Perhaps you can see an association between them that I can't see?

'one last climb to go up in local taxes' is the wordplay.
'one' becomes 'a' (a thing is one thing).
'last' suggests the final letters.
'to go up' becomes 'og' (I can't explain this - if you can you should give a lot more credence to this answer).
'in' means one lot of letters goes inside another.
'local taxes' becomes 'rates' (rates paid to a local authority).
The final letter of 'climb' is 'b'.
'og' inserted inside 'rates' is 'rogates'.
'a'+'b'+'rogates'='ABROGATES'

Can you help me to learn more?