Canadian Master Tax Guide, 77th Edition, 2022

The book’s explanations provide tax practitioners with accurate guidance to help them understand, apply, and comply with today’s complex tax laws. Conveniently cross-referenced to the Income Tax Act, Income Tax Regulations, court decisions, CRA technical publications, and Wolters Kluwer’s Canadian Tax Reporter, this reliable reference is a must for anyone involved with federal taxation.

The 2022 edition contains a special section on tax measures due to the COVID-19 pandemic, as well as updated content reflecting the 2021 Federal Budget and Bills C-14, C-30, C-31, and C-2.

What's New in the 2022 Edition:

- updated chapter content for COVID-19 response Bills C-14, C-30, and C-2, containing:
- childcare expenses and disability supports deduction adjustments
- temporary additional Child Care Benefit for 2021
- temporary adjustments to the automobile standby charge due to COVID-19
- tax treatment of COVID-19 benefit amounts, both receipt and repayment
- changes to the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy programs
- establishing the Canada Hiring Recovery Program, Canada worker lockdown benefit, the Tourism and Hospitality Recovery Program, and the Hardest-Hit Business Recovery Program
- Other Bill C-30 measures from Budget 2019, 2020, 2021 and other proposals, such as:
- Deemed interest for sections 15 and 212.3 – acquisition of control
- Canada Workers Benefit
- Registration and Revocation Rules Applicable to Charities
- Registered Disability Savings Plan—Cessation of Eligibility for the Disability Tax Credit
- Employee stock options
- Agricultural Cooperatives: Patronage Dividends Paid in Shares
- Accelerated Investment Incentive for Resource Expenditures
- Accelerated Investment Incentive for Depreciable Property
- Change in Use Rules for Multi-Unit Residential Properties
- Permitting Additional Types of Annuities under Registered Plans
- Contributions to a Specified Multi-Employer Plan for Older Members
- Pensionable Service Under an Individual Pension Plan
- Mutual Funds: Allocation to Redeemers Methodology
- Electronic Delivery of Requirements for Information
- Accelerated Capital Cost Allowance for Zero-Emission Vehicles
- Character Conversion Transactions
- Transfer Pricing Measures
- Foreign Affiliate Dumping
- Cross-Border Share Lending Arrangements
- Time Extensions for Flow-Through Share Issuers
- Zero-Emission Vehicles (Class 56)
- Employee Life and Health Trusts
- Support for Canadian Journalism
- Basic Personal Amounts
- Shared-Custody Parent
- Proposed amendments from the 2021 Federal Budget:
- Disability Tax Credit
- Northern Residents Deduction
- Inclusion of postdoctoral fellowship income to “earned income” for the purposes of RRSPs
- Fixing Contribution Errors in Defined Contribution Pension Plans
- Tax Treatment of COVID-19 benefit amounts
- Electronic Filing and Certification of Tax and Information Returns
- Immediate Expensing of certain investments in eligible property
- Capital Cost Allowance for Clean Energy Equipment
- Amendments to the Film or Video Production Tax Credit
- Mandatory Disclosure Rules
- Avoidance of Tax Debts
- Interest Deductibility Limits
- Hybrid Mismatch Arrangements
- Amendments for COVID-19 furloughed employees
Topical coverage includes:
- A special section on COVID-19 tax measures and changes
- Taxation of Individuals
- Business and Property Income
- Capital Gains and Capital Cost Allowance
- Corporations and Shareholders
- Partnerships and Trusts
- Tax Rates and Credits (including detailed charts)
- Deferred Income Plans and Arrangements (RRSPs and other plans)
- Tax Exemptions and Special Cases
- Returns, Assessments, Payments, and Appeals
- Non-residents, International Income, and Tax Agreements
- Administration, Enforcement, and Interpretation
- Tax Planning for Individuals (2020/2021)