There’s only one reference on the Income Tax Act that puts the strength of 27 distinguished tax experts behind you.
Representing the tax and accounting intelligence of specialists from Dentons, Minden Gross, PwC, Thorsteinssons, and Wolters Kluwer, no other single reference is better qualified to keep you fully informed. Canadian Income Tax Act with Regulations, Annotated provides valuable cross-references, comprehensive editorial notes, and a breadth of related third-party references, all selected by experienced tax specialists.
The Full Text of the Income Tax Act and Regulations
It has been over a century since the Income War Tax Act first came into force. Since then, the size and complexity of the legislation has grown exponentially. Canadian Income Tax Act with Regulations, Annotated contains all of the latest legislative developments since the Autumn Edition, including:
The full text of the Income Tax Act and the Income Tax Regulations, amended and current as of July 2020, contains:
Bill C-17, An Act respecting additional COVID-19 measures (June 10, 2020)
Bill C-17, An Act respecting additional COVID-19 measures, proposes to:
- amend the Income Tax Actto revise the eligibility criteria for the Canada Emergency Wage Subsidy;
- amend the Income Tax Actto authorize the use by officials, or disclosure to Government of Canada officials, of taxpayer information solely for the purpose of a one-time payment to persons with disabilities for reasons related to COVID-19;
SOR/2020-107, Regulations Amending the Income Tax Regulations (COVID-19 — Eligible Entities)
Introduced in draft form on May 15, 2020, New Part LXXXIX.1 of the Income Tax Regulations was enacted in order to prescribe additional types of entities that are eligible for the Canada Emergency Wage Subsidy (“CEWS”), retroactive to when the subsidy became effective on March 15, 2020. The CEWS is extended to the following groups:
- Partnerships that are up to 50-per-cent owned by non-eligible members;
- Indigenous government-owned corporations that are carrying on a business, as well as partnerships where the partners are Indigenous governments and eligible employers;
- Registered Canadian Amateur Athletic Associations;
- Registered Journalism Organizations; and
- Non-public colleges and schools, including institutions that offer specialized services, such as arts schools, driving schools, language schools, or flight schools.
SOR/2020-106, Regulations Amending the Income Tax Regulations (COVID-19 — Deemed Remittance)
Introduced in draft form on May 15, 2020, s. 111 of the Income Tax Regulations was enacted to provide certain prescribed amounts for the purposes of the 10% temporary wage subsidy for employers under subsection 153(1.02) of the Income Tax Act.
Legislative Proposals Relating to the Income Tax Act (Support for Canadian Journalism) (April 17, 2020)
On April 17, 2020, the government released draft legislative proposals amending the Income Tax Act, accompanied by explanatory notes, that would make various clarifying amendments to the tax measures to support Canadian journalism that were first introduced in Budget 2019.
Bill C-14, COVID-19 Emergency Response Act, No. 2 (S.C. 2020, c. 6)
Bill C-14 , the COVID-19 Emergency Response Act, No. 2, was introduced and received Royal Assent on April 11, 2020. It amends the Income Tax Act, and brings into law the Canada Emergency Wage Subsidy measures, including additional flexibilities announced on April 8, 2020.
Editorial notes with explanations, tips, and traps
The Multilateral Instrument, which modifies the terms of tax treaties between Canada and agreeing countries
Full text of the Canada-U.S. Tax Treaty, with detailed editorial notes by Dentons Canada LLP
Full text of the Canada-U.K. Tax Treaty
Key references to additional resources, including:
Cross references to related sections of the Act and Regulations
Income tax folios, bulletins, circulars, technical interpretations, forms, guides, comfort letters, and news releases
Canadian Tax Foundation, STEP Canada, and Wolters Kluwer newsletter articles
Case annotations summarizing key court decisions
Numerous quick reference charts, including:
- 2020 tax rates and credits tables from PricewaterhouseCoopers LLP
- Tables of automobile, mileage, interest, exchange, and capital cost allowance rates
- Tax integration tables from PricewaterhouseCoopers LLP
- Summary tables of deadlines, offences, and penalties, and a tax calendar
Editorial Board — As of July 2020
Trust the tax and accounting intelligence from the top firms in Canada:
Joseph Frankovic LL.B., LL.M., Ph.D., CFA
Member of the Ontario Bar and the adjunct faculty of Osgoode Hall Law School
Dentons Canada LLP
Donald Bowman Q.C.
Paige Donnelly J.D., MBA, CFA
Mark Jadd LL.B.
Earl I. Miller LL.B.
Larry Nevsky LL.B., CPA, CA
Tony Schweitzer LL.B., LL.M.
Yves St-Cyr LL.L.
Mark Woltersdorf LL.B., FCPA, FCA
Jacob Yau J.D.
Minden Gross LLP
Matthew Getzler J.D., MBA
Michael Goldberg B. Comm. Hons., LL.B.
Joan Jung LL.B.
Samantha Prasad B.A., LL.B.
Catherine Hibbard CPA, CA
Ruby Lim CPA, CA
Colin Mowatt CPA, CA
Michael Colborne LL.B., LL.M.
Michael McLaren B.Sc., LL.B.
Wolters Kluwer Canada Limited
Robert Boucher CPA, CA
Jennifer Corris B.Math
Mark Ho CPA (Australia)
Harry Hoogkamp CPA, CMA, CBV
Cameron Mancell CFP®
Roderick McBey GJM, BA, LL.B., TEP
Robert Spenceley M.A., LL.B.
Peter Tomlinson B.A., LL.B.