close
Share with your friends

Canada: Tax accounting update, second quarter 2020

Canada: Tax accounting update, second quarter 2020

Certain 2020 Canadian tax changes—such as income tax rate changes—may need to be reflected in interim financial statements.

1000

Related content

Read a July 2020 report [PDF 311 KB] that reflects the related Canadian federal and provincial income tax legislation substantively enacted or enacted between 1 January 2020 and 30 June 2020.

The report (prepared by the KPMG member firm in Canada) also includes a summary of certain outstanding corporate income tax measures that have been announced, but are not yet substantively enacted, including:

  • Certain 2019 federal budget measures
  • Alberta’s accelerated general corporate income tax rate reduction to 8% as of 1 July 2020
  • Quebec’s enhanced capital cost allowance (CCA) measures announced in the Quebec 2018 fall economic update 

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal