Canadian Master Tax Guide 2016, 71st Edition

Author: CCH Tax Editors
Publisher: CCH Canada
ISBN: 9781554968398
Published In: December 2015
Format: Paperback , 1745 pages
Jurisdiction: Canada ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description

Details

Canadian Master Tax Guide provides helpful and practical guidance on today's federal tax law. This 71st edition reflects federal tax changes in 2015 to the date of publication and provides fast, reliable answers to tax questions affecting individual and business income tax.

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. Significant new tax developments are conveniently highlighted and concisely explained for quick reference and understanding. The book's explanations provide tax practitioners with accurate and sound guidance to help them understand, apply, and comply with today's complex tax laws.

Canadian Master Tax Guide is conveniently cross-referenced to the Income Tax Act, Income Tax Regulations, court decisions, and CRA technical publications. This reliable reference is a must for anyone involved with federal taxation.

Topical Coverage:

Tax Rates and Credits
Tax-Free Savings Account
Income from Business and Property
Deferred Income Plans
Capital Gains and Losses
Dividends
Capital Cost Allowance
Charitable Donations
SR&ED Expenses
Returns and Assessments
Tax Planning for Individuals - 2015/2016

The 2016 edition provides timely and precise explanations of recent developments up to July 2015 including recent jurisprudence, and legislative changes in respect of the following:

Bill C-43, Economic Action Plan 2014 Act, No. 2 legislative amendments including items such as:
- Flat-top taxation of testamentary trusts (2013 Budget consultation)
- Charitable donation tax credit for deceased taxpayers (2014 Budget)
- Extension of lifetime capital gains exemption for property used in farming and fishing businesses (2014 Budget)
- Tax deferral for breeding animals (2014 Budget)
- Amateur athlete trusts and RRSP room (2014 Budget)
- Expanded definition of “split income” (2014 Budget)
- Accelerated CCA for clean energy equipment (2014 Budget)
- Non-resident trusts (2014 Budget)
- Children’s fitness tax credit (2014 Budget)
- Phase-out of the LSVCC tax credit (November 27, 2013 legislative proposals)
- Technical amendments to the Canadian Film or Video Production Tax Credit (re-released on April 8, 2014)
- Various amendments to foreign affiliate rules
- Various amendments to taxation of life insurance policies (August 23, 2013 legislative proposals)
Legislative amendments from Bill C-59, An Act to implement certain provisions of the budget tabled in Parliament on April 21, 2015 and other measures, including items such as:
- Increased annual TFSA dollar room (2015 Budget)
- Home Accessibility Tax Credit (2015 Budget)
- RRIF minimum withdrawal factors (2015 Budget)
- Increased lifetime capital gains exemption for qualified farm and fishing property (2015 Budget)
- Reduction of the small business tax rate (2015 Budget)
- New CCA Class 53 for manufacturing and processing machinery and equipment (2015 Budget)
- Tax deferral of patronage dividends from agricultural co-operatives (2015 Budget)
- Family Tax Cut (“income splitting” credit announced on October 30, 2014)
- Increased child care expense deduction limits (announced on October 30, 2014)