February 10, 2022

Draft tax legislation released

On February 4, 2022, the federal government released a package of draft legislation relating to Budget 2021 tax measures, as well as previously announced tax proposals. Tax measures that are of particular interest to CALU members and their clients include: Interest deductibility rules – Budget 2021 proposed tax measures that are intended to limit the deduction of excessive interest and financing expenses by corporations and certain other business entities. There were concerns that these proposals could extend to limit the interest expense deductions of Canadian-controlled private corporations (CCPC). However, there are two carve-outs in the legislation that will result in ...

February 10, 2022|Categories: Announcements and media releases|

Categories

Archives

Go to Top