Finance Releases Legislation to Implement the Balance of the 2016 Federal Budget Measures and Amendments to Subsection 104(13.4) of the Income Tax Act (Canada)

On October 21, 2016, the Department of Finance released a Notice of Ways and Means Motion (http://www.fin.gc.ca/drleg-apl/2016/bia-leb-1016-eng.asp) implementing the balance of the 2016 federal budget measures, including the repeal of the eligible capital property rules and new rules precluding the multiplication of the small business deduction, as well as implementing the amendments to subsection 104(13.4) of the Income Tax Act (Canada) to limit the scope of its application.

Prepared by: Michelle Chang

Michelle Chang is an associate working out of the Vancouver office of Thorsteinssons LLP. Michelle‚Äôs practice focuses on domestic and international tax planning for individuals, corporations and trusts, including estate and succession planning, corporate reorganizations, business structuring and immigration/emigration planning.… more »

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