Canada: Tax provisions in 2017 federal budget | KPMG Global
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Canada: Tax provisions in 2017 federal budget

Canada: Tax provisions in 2017 federal budget

The Finance Minister today delivered Canada's 2017 federal budget. Among the tax provisions are measures to:


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  • Make changes to the timing and recognition of gains and losses for derivatives
  • Clarify the definition of factual control used, for instance, in determining whether two or more Canadian controlled private corporations (CCPCs) are associated as corporations
  • Eliminate the ability of designated professionals to elect to use billed-basis accounting
  • Review the use of certain tax planning strategies involving private corporations
  • Eliminate certain personal tax credits and deductions including the public transit tax credit and the home relocation loan deduction
  • Invest in innovation and skills training to accelerate growth
  • Improve the temporary foreign worker program and the international mobility program

There were no changes to the capital gains inclusion rate, stock options or any specific tax measures related to the OECD base erosion and profit shifting (BEPS) initiative.


Read a March 2017 report [PDF 124 KB] prepared by the KPMG member firm in Canada

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