Preparing Your Income Tax Returns, 2022 Edition for 2021 Returns
Preparing Your Income Tax Returns, 2022 Edition for 2021 Returns
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PREP-2021
File your returns with accuracy by staying up-to-date on recent tax changes with the most current tax preparation guide. Critically-acclaimed by tax professionals, Preparing Your Income Tax Returns is updated annually and provides the most comprehensive coverage and in-depth analysis of the rules for corporate tax returns available.
Take advantage of the functionality and ease of online reading and keyword research. Browse the content with speed & simplicity! The legislation, case law and government documentation cited, including technical interpretations, are available at the tips of your fingers. If you subscribe to the online edition, you will also receive digital access to the previous 10 years of editions via a PDF document!
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File your returns with accuracy by staying up-to-date on recent tax changes with the most current tax preparation guide. Critically-acclaimed by tax professionals, Preparing Your Income Tax Returns is updated annually and provides the most comprehensive coverage and in-depth analysis of the rules for corporate tax returns available.
Features & Coverage:
Why do tax professionals across Canada come back to Wolters Kluwer year-after-year? It's simple. We provide the most comprehensive tax resource available anywhere. Federal and provincial income and capital taxes are exhaustively detailed. Descriptions of forms and analysis of necessary information are organized by topic. Preparing Your Income Tax Returns will give you the professional expertise, confidence, and time-saving efficiency you need to deliver your best returns.
The 2022 edition for 2021 returns 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, and C-31.
What's New in the 2022 Edition:
Updated chapter content for COVID-19 response Bills C-14 and C-30, containing:
Childcare expenses and disability supports deduction adjustments
Temporary adjustments to the automobile standby charge due to COVID-19
Tax treatment of COVID-19 benefit amounts
Changes to the Canada Emergency Wage Subsidy and Canada Emergency Rent Subsidy programs
Establishing the Canada Hiring Recovery Program
Other Bill C-30 measures from Budget 2019, 2020, 2021 and other proposals, such as:
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
Mandatory Disclosure Rules
Hybrid Mismatch Arrangements
Proposed amendments for COVID-19 furloughed employees
Table of Contents
How To Use This Book
Recent Federal Income Tax Changes
2021 Provincial Tax Change Summary
2021 Federal and Provincial Tax Rates
Indexed Personal Amounts, Credits, and Thresholds
Prescribed Quarterly Interest Rates
Registered plans, CPP, QPP, EI, and QPIP contributions
Automobile Rates and Limits
Mileage Rates
2021 Monthly Average Conversion Rates for U.S. Dollar, U.K. Pound, and European Euro Transactions
Yearly Average Conversion Rates for Major Currencies
Rates of Withholding Tax under Income Tax Agreements Signed by Canada
Client Organizer
Tax Changes Due to COVID-19
Chapters
The Basic Rules of Residency and Canadian Income Taxation
Income Tax Returns and Administrative Matters
Employment Income and Deductions
Investment Income
Capital Gains and Losses
Rental Income and Undeveloped Land
Business and Professional Income
Capital Cost Allowance
Other Income
Other Deductions
Personal Tax Credit Amounts
Medical Expenses and Charitable Donations
Other Personal Tax Credits
How To Calculate Your Federal Tax
How To Calculate Your Provincial Tax
Québec Income Tax
Farming and Fishing
Partnerships
Final Returns of Deceased Taxpayers
Non-Residents Immigrants and Emigrants, U.S. Citizens in Canada
Oil and Gas and Mining Operations
Divorce and Separation
Alternative Minimum Tax
Tax Planning
Tax Deferred Plans and Special Income Arrangements
