With in-depth analysis,
editorial excellence and easy navigation, CCH's Canadian Income Tax Act with
Regulations, Annotated is the professional's choice. It is backed by a
contributing Advisory Board featuring some of Canada's foremost experts in tax
law.
All pending amendments to the Income Tax Act or its regulations are
reproduced in place. Each proposal appears in a box immediately following the
provision affected. Department of Finance explanatory notes to pending
amendments are also included.
The 87th edition is current to February
20, 2009, and contains:
- Full text of the Income Tax Act and Regulations
- Pending amendments to the Income Tax Act
- Department of Finance comfort letters
- News Releases
- Editorial notes, cross references to other sources of
information, including:
- Related sections of the Act and Regulations
- Bulletins, Circulars and Technical News
- CRA forms and guides
- CCH newsletter articles
- Canadian Tax Foundation articles
- Canadian Petroleum Tax Journal articles
- Key case annotations
- Full text history notes
- The Canada-U.S. and Canada-U.K. Tax Conventions including the
full text of the Fifth Protocol to the Canada-U.S. Tax Convention and technical
explanations
- Interpretation Act
- The Income Tax Conventions Interpretation Act
- Remission Orders
- Quick reference charts including rates, credits, limits, and
penalties
- Index
The 87th edition is updated and expanded to include all
developments since the last edition, including:
- Budget Implementation Act, 2009 (Bill C-10), which includes
many of the 2009 Budget Proposals including:
- Changes to the basic personal, spousal, and dependent
amounts, Age credit amount, and changes in the personal tax brackets
- increase in the small business limit, which affects many
provisions including the small business credit, the enhanced investment tax
credit, the refundable investment tax credit, and instalment payments for small
businesses
- changes regarding losses realized in an RRSP or RRIF
after death of annuitant
- increase in amount of withdrawal for Home Buyers'
Plan
- changes regarding the acquisition of control for small
business corporations and Canadian-controlled private corporations
- mandatory electronic filing and penalties for failure to
do so for certain corporations
- repeal of section 18.2 on restriction of interest
deductibility on funds borrowed to invest in foreign affiliates
- Amendments not from the 2009 Budget, such as:
- the reduction in the mandatory withdrawal from RRIFs for
2008,
- major revisions to the functional currency rules,
- changes to amateur athlete trust rules;
- provisions to facilitate the conversion of SIFT
entities,
- changes to the TFSA rules,
- changes to SR&ED rules, and
- enhanced carryforward of investment tax credits
- Draft regulations affecting such things as:
- information Returns for Tax Free Savings Accounts
(TFSAs)
- rules for determining the amount of a corporation's
taxable income earned in a province, including income earned from an
international banking centre business and taxable SIFT distributions
- rules for determining the amount of a corporation's
taxable income earned in a province, including income earned from an
international banking centre business and taxable SIFT distributions
- eligible medical expenses
- foreign affiliates
- insurance policy reserves
- pensions
- securities held by financial institutions
- 2009 Budget proposals not included in the Budget
Implementation Act, 2009, such as the Home Renovation Tax Credit , the
First-Time Home Buyers' Tax Credit and changes to capital cost allowance for
certain assets
- Many new and revised editorial notes by members of the
Editorial Board including:
- new notes for the paragraphs in subsection 95(2) (foreign
affiliates), which has been separated into paragraphs in this edition for
easier readability
- new notes for sections 79, 79.1, and 80 regarding
surrender and seizure of debtor property and forgiveness of debt
- new notes for section 89 regarding the capital dividend
account
- revised notes on trusts in section 104
- new notes on stop loss rules in section 112
- new notes on residency in section 250
- new notes on residency in section 250
The 87th edition consolidates all amendments made by
legislation passed by Parliament and all regulations promulgated on or before
February 20, 2009.
Please Note: Canadian Income Tax Act with
Regulations is published twice a year, usually in March and
August.
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