Full explanation for each amendment to each section of Canada's Income Tax Act

This work includes the Department of Finance's explanation of the purpose and application of each section of the Income Tax Act, and an explanation of each amendment organized by section of the Act – in the words of those who drafted the amendments.

It consolidates and organizes the following twelve sources of information, going back to 1946: Technical Notes/Explanatory Notes, Notices of Ways and Means Motions, Budget Supplementary Information, Budget Speeches, June 1987 Tax Reform White Paper, December 1987 Tax Reform Supplementary Information, Press Releases, De Boo Budget Date Comments, June 1971 Tax Reform Summary, House of Commons Finance Committee Reports, Regulatory Impact Analysis Statements, and Department of Finance comfort letters.

What's New:

• May 2021 TN (budget): Technical Notes to the draft legislation that became 2021 Budget bill #1 (Bill C-30, S.C. 2021, c. 23, Royal Assent June 29, 2021), including 2019 Budget measures that were not enacted in the first 2019 Budget bill (and then were interrupted by COVID-19)
• 2021 BSI: Supplementary Information to the April 19, 2021 federal Budget
• Sept. 2021 Liberal.ca election platform: proposals by the federal Liberal party, which was re-elected Sept. 20, 2021 with a minority government
• Various Regulatory Impact Analysis Statements accompanying new regulations
• Agriculture Canada Press Releases — prescribed regions for 2020 and 2021 for livestock tax deferral due to weather conditions [Reg. 7305, 7305.01]
• Press releases, backgrounders and announcements from the Dept. of Finance, CRA, Prime Minister’s office and the Tax Court of Canada