Tackling the technical tax amendments: Issues or concerns?

Bill C-48 and its enactment of a 10-year backlog of income tax and sales tax amendments had significant implications for tax practitioners across the country.

Tax practitioners across the country are working through the implications of the enormous set of technical tax amendments introduced in Parliament in November 2012 and enacted in Bill C-48. The bill is the first of its kind to be enacted in over 10 years, and it clears a growing backlog of outstanding income tax and sales tax amendments that have accumulated over that time.

We applaud the federal government’s commitment in the future, stated in its November 21, 2012 press release, to work toward ensuring that necessary technical amendments are put forward for consideration on a regular and timely basis.

Members of CICA’s various tax committees are reviewing the bill and may put forward recommendations to the Department of Finance regarding any technical issues that are identified. If you have concerns about aspects of the technical amendments that you believe should be raised with Finance, email them to Gabe Hayos for consideration.

 

This document was originally prepared by a legacy CPA organization.