Volume 2 of Fundamentals of Canadian Income Tax picks up from where Volume 1 left off, and examines the fundamental principles of corporate income tax law. This volume introduces students to the income tax implications of corporate, commercial, and family transactions. As with its companion piece, Volume 1, we use a building block approach, starting with basic and fundamental legal principles of alternative business structures and their income tax effects.

We look at the underlying policies and structure for the income taxation of corporations and shareholders, financing arrangements for equity and debt capital, the use of professional corporations, the taxation of business and investment income of private corporations, shareholder compensation, and corporate distributions to shareholders. In addition, we examine the nature of corporate reorganizations, tax-deferred rollovers, and non-arm’s length share transfers, amalgamations, winding-up, the taxation of non-residents, transfer pricing, and selected aspects of estate planning.

The text is current to January 1, 2018 and incorporates changes announced by the Minister of Finance, but which will be enacted into law later in 2018.  It also contains a comprehensive glossary of tax and financial terms, which will be useful for students, and practitioners in commercial practices.