Tax Legislation Updates
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Tax Legislation Updates
- Category: Tax Legislation
2018 Fall Economic Statement A portion of the capital cost of a depreciable property is deductible as capital cost allowance (CCA) each year, with the
- ITA Sections: 1100(1), 1100(2), 1104(4), 66.2(2), 66.2(5), 66.4(2), 66.4(5), Regulation 1100, Regulation 1104, Section 66.2, Section 66.4
- Category: Commentaries, Tax Legislation
Highlights of Bill Morneau’s 2018 fiscal update Overview Responding to U.S. Tax Cuts And Jobs Act of 2017 (TCJA): Enhance capital cost allowance (CCA) in
- ITA Sections: 20(1)(a)
- Category: Tax Legislation
Summary of Fall Economic Statement Overview Suggestions to the federal government to address U.S. tax reform Not going along with the federal government’s passive income
- Category: Tax Legislation
T1134 Reporting Requirements Budget 2018 Proposal The Income Tax Act contains specific information reporting requirements in respect of foreign affiliates. In general terms, taxpayers (and certain
- ITA Sections: 233.4(4), Section 233.4
- Category: Tax Legislation
Budget 2018 At-Risk Rules for Tiered Partnerships The income (or loss) of a partnership for income tax purposes is allocated to its partners, who
- Topics: At-Risk Rules, Partnerships
- Category: Tax Legislation
Part IV Tax – Allocation of Losses ITA 129 New subsections 129(4.1) and (4.2) of the Act are introduced consequential to the introduction of
- ITA Sections: 129(4.1), 129(4.2), Section 129
- Category: Tax Legislation
Reassessment Period – Non-Resident Non-Arm’s Length Persons Budget 2018 After a taxpayer files an income tax return for a taxation year, the Canada Revenue
- ITA Sections: 152(4), Section 152
- Category: Tax Legislation
Foreign Affiliates Budget 2018 Budget 2018 proposes modifications to the foreign affiliate rules as a result of the Government’s ongoing monitoring of developments in
- Category: Tax Legislation
Cross-Border Surplus Stripping Using Partnerships and Trusts Budget 2018 The Income Tax Act contains a rule (section 212.1) that is intended to prevent a
- ITA Sections: 212.1(1.1), 212.1(1.2), 212.1(1), 212.1(3), 212.1(4), 212.1(5), 212.1(6), 212.1(7), Section 212.1