FREE: Canada seeks comments on tax law changes

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

FREE: Canada seeks comments on tax law changes

canada-flag.jpg

The Canadian Department of Finance has released for public comment a package of draft legislative proposals relating to a number of technical changes to the country’s tax laws.

The changes relate to the Income Tax Act, Income Tax Amendments Act, 2000, Income Tax Regulations, and the Excise Tax Act.

Many of the proposals respond to issues brought to the attention of the department by taxpayers and their representatives. This release is part of an effort to ensure that the tax legislation is clear and reflects the underlying policy intent.

The proposals include technical changes relating to:

· Trusts, investment corporations, mortgage investment corporations, mutual fund corporations and agricultural cooperative corporations;

· The treatment of non-residents with Canadian service providers;

· Corporations that carry on an insurance business; and

· The reporting of recaptured input tax credits.

Full explanatory notes are included with the draft legislation.

Interested parties are invited to provide comments on the draft legislation by November 30 2011 to:

Tax Policy Branch

Department of Finance

140 O’Connor Street

Ottawa, Ontario

K1A 0G5

more across site & shared bottom lb ros

More from across our site

AI-powered tax agents are likely to be the next big development in tax technology, says Russell Gammon of Tax Systems
FTI Consulting’s EMEA head of employment tax and reward tells ITR about celebrating diversity in the profession, his love of musicals, and what makes tax cool
Canadian Prime Minister Mark Carney and US President Donald Trump have agreed that the countries will look to conclude a deal by July 21, 2025
The firm’s lack of transparency regarding its tax leaks scandal should see the ban extended beyond June 30, senators Deborah O’Neill and Barbara Pocock tell ITR
Despite posing significant administrative hurdles, digital services taxes remain ‘the best way forward’ for emerging economies, says Neil Kelley, COO of Ascoria
A ‘joint understanding’ among G7 countries that ‘defends American interests’ is set to be announced, Scott Bessent claimed
The ‘big four’ firm’s inaugural annual report unveiled a sharp drop in profits for 2024; in other news, Baker McKenzie and Perkins Coie expanded their US tax benches
Representatives from the two countries focused on TP as they met this week to evaluate progress under a previously signed agreement – it is understood
The UK accountancy firm’s transfer pricing lead tells ITR about his expat lifestyle, taking risks, and what makes tax cool
Dolphin Drilling intends to discuss the final liability amount and manner of settlement with HM Revenue and Customs
Gift this article