Canadian Master Tax Guide 2017 (72nd Edition)

Canadian Master Tax Guide is the only resource of its kind that provides judicious and practical guidance on current federal tax law. Built for speed with handy, time-saving features, it is a must-have for accounting professionals, financial planners and legal advisors who need quick access to the latest legislation.

Coverage includes current and precise explanations of federal income taxes for individuals, partnerships, corporations, estates and trusts. New tax developments, updates and amendments are highlighted at the beginning of each chapter. Use it on its own or as a perfect companion to your Cantax or Taxprep software.

Canadian Master Tax Guide is cross-referenced to the Income Tax Act, Income Tax Regulations, court decisions and CRA technical publications. Convenient and effecient features include checklists, quick-reference tables, highlights of recent changes, a tax calendar, a topical index and more. 

Easy to navigate and instantly accessible, this guide is the simplest way to stay informed and understand even the most complex tax scenarios.

Topical Coverage:

• Taxation of individuals
• Business and property income
• Capital gains and capital cost allowance
• Corporations and shareholders
• Partnerships and trusts
• Tax rates and credits
• Deferred income plans and arrangements
• 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 (2016/2017)

The 2017 edition is current to October 2016 and includes recent jurisprudence and legislative changes in respect of the following:

Bill C-15, Budget Implementation Act, 2016, No. 1, legislative amendments:

• Numerous measures from the 2016 federal Budget, such as:
  • The Canada Child Benefit
  • Repealing the family tax cut, education and textbook credits, and the children’s fitness and arts tax credits
  • Small business deduction changes
  • School supply tax credit
  • Reinstating the LSVCC tax credit
• Outstanding Budget 2015 measures:
  • Repeated failure to report penalty
  • Investments in limited partnerships by registered charities
  • Section 55 amendments
  • Withholding tax exemption for non-resident employers
• Taxation of farmers’ shares of the Canadian Wheat Board

Bill C-2, An Act to amend the Income Tax Act, proposed amendments including:

• The “middle-class tax cut” and the new 33% tax bracket
• Reducing the annual TFSA amount to $5,500
• Investment income tax rates applicable to private corporations
• Calculation of the charitable donation tax credit