International Financial Reporting Standards The purpose of this article is to provide guidance on how the requirement for publicly accountable enterprises (PAEs) to adopt International Financial Reporting Standards (IFRS), effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011, will affect those enterprises’ tax reporting. IFRS will […]
NO: IT-481 (Consolidated) DATE: See Bulletin Revisions section SUBJECT: INCOME TAX ACT Timber Resource Property and Timber Limits REFERENCE: The definition of “timber resource property” in subsection 13(21) of the Income Tax Act (the “Act”); and subsection 1101(3), paragraph 1100(1)(e), Class 33 of Schedule II and Schedule VI of the Income Tax Regulations (the “Regulations”) (also the definition of “undepreciated capital cost”
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NO: IT-396R DATE: May 29, 1984 SUBJECT: INCOME TAX ACT Interest Income REFERENCE: Paragraph 12(1)(c) (also subsections 12(3) to (11), 16(1), 20(14) 20(21) and 70(1) and subsection 201(4) and Part LXX of the Income Tax Regulations) This bulletin replaces and cancels IT-396 dated October 17, 1977, IT-284R dated January 30, 1978 and Special Release to IT-284R
NO.: IT-99R5 (Consolidated) DATE: See Bulletin Revisions section SUBJECT: INCOME TAX ACT Legal and Accounting Fees REFERENCE: Paragraph 18(1)(a) (also sections 9 and 239; subsections 13(12), 20(9), and 40(1); paragraphs 6(1)(f), 6(1)(j), 8(1)(b) and (c), 20(1)(b), (e) and (cc), 56(1)(b), (l) and ( l.1), 60(o) and (o.1) and the definitions of “cumulative eligible capital” and “eligible capital expenditure” in subsection
NO: IT-357R2 DATE: November 6, 1989 SUBJECT: INCOME TAX ACT Expenses of Training REFERENCE: Subsection 18(1) (also section 67, subsections 15(1) and 20(10), and paragraph 6(1)(a)) Application This bulletin replaces and cancels Interpretation Bulletin IT-357R dated May 21, 1980. Current revisions are indicated by vertical lines. Summary This bulletin deals with the deductibility of costs and
INTERPRETATION BULLETIN SUBJECT: INCOME TAX ACT Vehicle, Travel and Sales Expenses of Employees DATE: March 29, 1996 NO: IT-522R REFERENCE: Paragraphs 8(1)(f), 8(1)(h), 8(1)(h.1) and 8(1)(j) (also sections 67.1, 67.2, 67.3 and 67.4, subsections 6(6), 8(4), 8(9), 8(10), 13(2), 13(7), 13(11), 20(16), 20(16.1), 70(5), 70(6), 81(3.1) and the definitions of “passenger vehicle,” “automobile” and “motor vehicle”
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Capital Cost Allowance – General Comments NO: IT-285R2 DATE: March 31, 1994 SUBJECT: INCOME TAX ACT Capital Cost Allowance – General Comments REFERENCE: Paragraph 20(1)(a) (also paragraph 18(1)(b) and Part XI of the Income Tax Regulations) Application This bulletin cancels and replaces Interpretation Bulletin IT-285R dated October 11, 1985 and the Special Release to IT-285R dated
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NO: IT-261R DATE: May 20, 1980 SUBJECT: INCOME TAX ACT Prepayments of rents REFERENCE: Reference: 9(1), 18(1)(a) (also paragraph 18(1)(b) and subparagraph 20(1)(m)(iii)) This bulletin cancels and replaces Interpretation Bulletin IT-261 dated November 3, 1975 and Special Release dated December 5, 1977. 1. This bulletin deals with prepayments of rent and the treatment of the prepayments
NO: IT-288R2 DATE: January 16, 1995 SUBJECT: INCOME TAX ACT Gifts of Capital Properties to a Charity and Others REFERENCE: Subsections 110.1(3) and 118.1(6) (also subsections 13(1), 20(16), 110.1(1), 118.1(1), 118.1(4) and 118.1(7), paragraphs 69(1)(b) and 70(5)(a) of the Income Tax Act and sections 3501 and 3504 of the Income Tax Regulations) Application This bulletin cancels
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NO: IT-273R2 DATE: September 13, 2000 SUBJECT: INCOME TAX ACT Government Assistance — General Comments REFERENCE: Section 9, subsection 13(7.1), paragraphs 12(1)(x) and 53(2)(k) (also sections 66, 66.1, 66.2, 66.4 and 126; subsections 12(2.1), 12(2.2), 13(7.4), 13(21), 14(10), 14(11), 53(2.1), 127(9) and 248(16); paragraphs 12(1)(t), 20(1)(hh), 20(1)(hh.1), 40(2)(i), 53(2)(s) and 56(1)(s) of the Income Tax Act; and sections 6700,
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