The 2023 Canadian Master Tax Guide contains timely and precise explanations of federal income taxes for individuals, partnerships, corporations, estates, and trusts, as well as changes established by key court decisions and the Canada Revenue Agency.
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 2023 edition contains updated content reflecting the 2022 Federal Budget, Legislative Proposals from February 4, 2022, April 29, 2022 and August 9, 2022, and Bill C-19.
What's New in the 2023 Edition:
Bill C-19 measures from Budget 2021, 2022 and other proposals, such as:
Labour mobility deduction
Increase to the Home Accessibility Tax Credit
Expansion of the Disability Tax Credit
Changes to the Climate Action Incentive program
New Rate Reduction for Zero-Emission Technology Manufacturers
Addition of post-doctoral fellowship income to the calculation of “earned income” for the purposes of RRSPs
Changes to the charitable donation regime by allowing gifts to grantee organizations
Immediate expensing regime
Capital Cost for clean energy equipment
Technical amendments due to the creation of the Luxury Items Tax Act
Legislative Proposals from February 4, 2022:
Mutual Fund Trusts — Allocations to Redeemers by Exchange Traded Funds
Taxes Applicable to Registered Investments
Audit Authorities
Interest Deductibility Limits
Legislative Proposals from April 29, 2022:
Hybrid mismatch rules
Legislative Proposals from August 9, 2022, including measures from Budget 2021 and 2022:
New Tax-Free First Home Savings Account
Increased Home Buyer’s Tax Credit
New Multigenerational Home Renovation Tax Credit
Residential Property Flipping Rule
Medical Expense Tax Credit for Surrogacy and Other Expenses
Annual Disbursement Quota for Registered Charities
Canada Recovery Dividend and Additional Tax on Banks and Life Insurers
Investment Tax Credit for Carbon Capture, Utilization, and Storage
Clean Technology Tax Incentives — Air-Source Heat Pumps
New Critical Mineral Exploration Tax Credit
Flow-Through Shares for Oil, Gas and Coal Activities
Changes to the Small Business Deduction
International Financial Reporting Standard for Insurance Contracts (IFRS 17)
Application of the General Anti-Avoidance Rule to Tax Attributes
Substantive CCPCs
Interest Coupon Stripping
Electronic Filing and Certification of Tax Information Returns
Reporting Requirements for Trusts
Fixing contribution errors in defined contribution pension plans
Mandatory Disclosure Rules
Avoidance of Tax Debts
Taxation of Veterans’ and Active Service Members’ Benefits
Contributors | Wolters Kluwer Tax Law Editors |
---|---|
Format | Book |
Library | Municipal |
Subject Area | Annotated Acts |