Department of Finance Technical Notes, Income Tax, 19th Edition,
2007 is an annotated consolidation of technical notes and other income tax
commentary from the Government of Canada’s Department of Finance. This is
an indispensable guide for anyone who must read and understand the Income Tax
Act.
This book is an ideal companion to the published Income Tax Act. It
explains the provisions of the Act, Application Rules, and Regulations in the
words of those who drafted them — the Department of Finance, with
editorial annotations by David M. Sherman.
Department of Finance
Technical Notes, Income Tax consolidates and organizes twelve sources of
information, organized by section of the Act:
- Technical Notes or Explanatory Notes (TN) issued since
1982
- Notices of Ways and Means Motions (NWMM), accompanying
proposals, legislation or budgets since 1975
- Budget Supplementary Information since 1972
- Budget Speeches since 1946
- June 1987 Tax Reform White Paper
- December 1987 Tax Reform Supplementary Information
- Press Releases from the Department of Finance, Canada Revenue
Agency and other government departments
- De Boo Budget Date Comments (1975-1980)
- June 1971 Tax Reform Summary
- House of Commons Finance Committee Reports
- Regulatory Impact Analysis Statements (RIAS) since 1986
- Department of Finance comfort letters, going back to
1995.
The 19th edition is consolidated to October 26, 2007, and
includes all new Department of Finance technical releases since 1946,
including:
- October 2006 technical notes to Bill C-28, Part 2, implementing
an increased dividend tax credit for dividends from public corporations and
from private corporations taxed at high rates ("eligible dividends")
- November 2006 technical notes to amendments released on July
18, 2005, and re-released in Bill C-33 (now Bill C-10), extending the
English-language version of the Act to include civil law terms used in
Quebec
- June 2007 technical notes to the legislation implementing the
SIFT (Specified Investment Flow-Through) rules to tax income trusts starting
2011, and politically-related changes increasing the pension credit and
allowing pension income splitting
- June 2007 technical notes to the legislation implementing the
first portion of the March 19, 2007 federal budget. Included increases in
personal credits, a new child tax credit, simplification of "qualified
investments" for RRSPs and other plans, RRSP maturity increased from 69 to 71,
changes to RESPs, and pension plan regulation changes
- October 2007 technical notes to a package of draft legislation
released on October 2, 2007 to implement the provisions of the March 19, 2007
federal budget that were not included in Bill C-52
- October 2007 technical notes to a package of draft legislation
released on October 2, 2007 to provide for Registered Disability Savings Plans.
Not introduced as a Bill at time of writing.
Compiled, Edited and Annotated by David M. Sherman. Published
by Carswell, 2007.
This is an annual publication. The 2007 19th
edition was released December 2007.
Related information: The Practitioner's Income Tax Act |
