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Archived - Legislative Proposals and Explanatory Notes to Implement Remaining Budget 2007 Tax Measures
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Explanatory Notes
Table of Contents
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Clause in Legislation |
Section of the Act Amended |
Topic | ||
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| Preface | ||||
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| Part 1 Amendments Related to Income Tax |
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| Income Tax Act | ||||
| 1 | 17 | Amount owing by non-resident | ||
| 2 | 18(9) | Limitation respecting prepaid expenses | ||
| 3 | 18.2 | Definitions - double-dip financing | ||
| 4 | 19(5) | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 5 | 20 | Deductions permitted in computing income from business or property | ||
| 6 | 38(a.1) | Taxable capital gain - donation of listed securities | ||
| 7 | 53 | Adjusted cost base of partnership interest | ||
| 8 | 56(3) | Scholarships and bursaries | ||
| 9 | 60(x) | Repayment under Canada Education Savings Act | ||
| 10 | 66 | Canadian and foreign exploration and development expenses | ||
| 11 | 67.1 | Expenses for food, etc. | ||
| 12 | 80(1) | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 13 | 89(1) | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 14 | 91 | Foreign affiliate income | ||
| 15 | 92 | Adjusted cost base of foreign affiliate | ||
| 16 | 95 | Foreign affiliates | ||
| 17 | 104(21.2) | Beneficiaries' taxable capital gain | ||
| 18 | 108(2) | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 19 | 110(1)(d.01) | Charitable donation of employee option securities | ||
| 20 | 110.1 | Gifts of medicine | ||
| 21 | 110.6 | Capital gains deduction | ||
| 22 | 115(2.3) | Non-resident persons - 2010 Olympic and Paralympic Winter Games | ||
| 23 | 116(6)(b) | Replacement of "prescribed stock exchange" by "recognized stock exchange" | ||
| 24 | 117(2.1) | Tax payable - WITB advance payment | ||
| 25 | 117.1(1) | Annual adjustment | ||
| 26 | 118 | Personal credits | ||
| 27 | 118.02 | Transit pass tax credit | ||
| 28 | 118.03 | Child fitness tax credit | ||
| 29 | 118.1 | Exchange of beneficial interest in trust | ||
| 30 | 120(4) | Definitions | ||
| 31 | 122.1(1) | SIFT trusts - definitions - REIT | ||
| 32 | 122.7 | Working Income Tax Benefit | ||
| 33 | 127 | Investment tax credits | ||
| 34 | 141(5) | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 35 | 146.1(1) | Registered education savings plans - definitions | ||
| 36 | 149.1 | Charities | ||
| 37 | 149.2 | Excess corporate holdings of private foundations | ||
| 38 | 152 | Assessment | ||
| 39 | 153(1) | Withholding obligation - exemption | ||
| 40 | 156.1 | No instalment required | ||
| 41 | 157 | Instalment payments | ||
| 42 | 161(4.1) | Limitations - corporations | ||
| 43 | 163(2)(c.3) | False statements or omissions | ||
| 44 | 182(2) | Tobacco manufacturers' surtax - definitions | ||
| 45 | 186.1(b)(vii) | Exemption from Part IV tax | ||
| 46 | 188.1 | Penalty for excess corporate holdings | ||
| 47 | 204 | "qualified investment" | ||
| 48 | 212 | Non-residents' Canadian-source interest income | ||
| 49 | 214 | Part XIII rules | ||
| 50 | 220 | Administration | ||
| 51 | 241(4)(q) | Where taxpayer information may be disclosed | ||
| 52 | 248(1) | Definitions | ||
| 53 | 260(1) | Replacement of "prescribed stock exchange" by "stock markets" - securities lending arrangements |
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| 54 | 261 | Functional currency reporting | ||
| 262 | Authority to designate stock exchange | |||
| 55 | Various | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| Income Tax Application Rules | ||||
| 56 | 10(5) | Certificates of exemption | ||
| Income Tax Conventions Interpretation Act | ||||
| 57 | 4.2 | Stock exchanges | ||
| Income Tax Regulations | ||||
| 58 | 108(1.12) | Remittance - quarterly basis | ||
| 59 | 3200 & 3201 | Stock exchanges | ||
| 60 | 3700 | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 61 | 3702 | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 62 | 4800 | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 63 | 6201 | Term preferred share and taxable RFI share | ||
| 64 | 7303.1 | Northern residents deduction | ||
| 65 | 7310 | "prescribed trades" | ||
| 66 | 8303(5) | Past service pension adjustment - normalized pension | ||
| 67 | 8500 | Interpretation | ||
| 68 | 8503 | Permissible benefits | ||
| 69 | 8504 | Highest average compensation | ||
| 70 | 8507(3)(a) | Qualifying periods and periods of parenting | ||
| 71 | 8514 | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 72 | 8516 | Eligible contributions | ||
| 73 | Various | Replacement of "prescribed stock exchange" by "designated stock exchange" | ||
| 74 | 9400 | Prescribed programs of physical activity | ||
| Canada Pension Plan Regulations | ||||
| 75 | 8(1.12) | Remittance - quarterly basis | ||
| Insurable Earnings and Collection of Premiums Regulations | ||||
| 76 | 4(3.1) | Withholding amount | ||
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| Part 2 Amendments in Respect of the Goods and Services Tax/Harmonized Sales Tax |
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| Excise Tax Act | ||||
| 77 | 217 | Imported taxable supply | ||
| 78 | 218.1 | Tax in participating province | ||
| 79 | 236(1) | Meal expenses of truck drivers | ||
| 80 | 237(3) | Minimum instalment base | ||
| 81 | 248 | Election for fiscal years | ||
| 82 | VII/1.2 | Non-taxable importations | ||
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| Part 3 Amendments to the Excise Tax Act (Other than with Respect to the Goods and Services Tax/Harmonized Sales Tax) |
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| Excise Tax Act | ||||
| 83 | 23.4 & 23.5 | Excise taxation of renewable fuels | ||
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