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 ( 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.