CPA Canada’s response to Finance Canada’s legislative proposals for new tax measures

Learn about Chartered Professional Accountants of Canada (CPA Canada)’s submission to the federal government in response to its proposals for new tax legislation.

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CPA Canada has provided feedback on the Department of Finance’s July 12, 2013 draft legislative proposals relating to a number of technical changes to the Income Tax Act, Income Tax Regulations, Excise Act, 2001, and Part IX of the Excise Tax Act. The government’s stated aim with these measures is to improve the fairness and certainty of the tax system.

Developed by the Joint Committee on Taxation of the Canadian Bar Association and CPA Canada, this submission paper responds to the government’s planned tax law changes, and provides several constructive recommendations to improve their effectiveness.

What you will learn

Committee members provide their expert insights on tax topics relating to:

  • foreign accrual property income
  • fiscally transparent entities
  • surplus entitlement percentage
  • controlled foreign affiliates
  • taxable capital gains
  • functional currency elections