Taxation of Corporations, Partnerships and Trusts, 5th Edition

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Taxation of Corporations, Partnerships and Trusts, Fifth Edition gives you a clear overview of the income tax treatment of the three most common Canadian business and personal planning vehicles.

The author analyzes each area of intermediary taxation, in turn, always referencing the provisions of the Income Tax Act that apply. Using each tax concept to build on his discussion of the next, the author provides the structure and support needed to deepen your understanding of intermediary tax fundamentals.

Taxation of Corporations, Partnerships and Trusts, Fifth Edition is the only text in Canada dedicated to the taxation of the three most common Canadian business and personal planning vehicles: the corporation, the partnership, and the trust. The author opens with an introduction that contextualizes these three vehicles and follows up with a first-principles discussion in Chapter 1 of the interpretation of the Income Tax Act and the art of its reading. The application of the Income Tax Act, with relevant sections reproduced, is then elaborated in relation to Corporations and their Shareholders (Part I, Division B, sections 82-89); Partnerships and their Members (Part I, Division B, sections 96-103); and Trusts and their Beneficiaries (Part I, Division B, sections 104-108).

This comprehensive desk reference contains

• All the relevant sections of the Act
• Numerical examples that illustrate the application of complex taxation concepts
• Convenient finding tools including a table of cases, a table of statutes, and a topical index to facilitate easy access to all discussion within the book

The Fifth edition reflects all relevant legislative, judicial, and administrative developments,

• Refinements to the discussion of partnership taxation
• In-depth contextual elaboration of the graduated rate estate regime
• Elucidation of the increasingly complex small business deduction provisions
• Commentary on the revised de facto control rules
• Discussion of the corporate-level reverberations of the 2016 personal rate increases
• Extensively revised and updated discussion of the corporate integration system
• Explanation of the revamped capital gains stripping rules
• Implications of the July 18, 2017 Finance proposals and draft legislation, with particular emphasis on dividend (surplus) stripping