The 2023 Corporate Tax Return and Provisions Guide is the most in-depth corporate tax return preparation product available on the market, and is the only guide that covers both the preparation of the corporate tax filing for accounting purposes and the preparation of related corporate income tax returns in an integrated fashion.

The comprehensive 15-chapter Guide will answer your questions on completing the federal T2 Corporation Income Tax Return (T2 return), the Quebec Corporation Income Tax Return (CO-17 return), and the Alberta Corporate Tax Return (AT1 return), and will assist in ensuring the income tax provision is prepared in accordance with the financial accounting standards. Tax professionals can also rely on the Guide to answer corporate tax questions throughout the year as the issues covered in the Guide extend far beyond tax return preparation.

The Guide is arranged in an easy-to-use intuitive manner to reflect the corporate tax return and tax provision preparation processes. Text boxes and quick reference tables are used to highlight key concepts, tips, and traps. Extensive references are made to legislative provisions; court cases; corporate tax return schedules; page and line numbers; Canada Revenue Agency (CRA), Revenu Quebec, and Alberta Tax and Revenue Administration (ATRA) publications; IFRS, CICA, and FASB tax accounting standards; and other relevant sources.

This tax return preparation guide is available on Taxnet Pro, Canada's most comprehensive online tax research service.

What's New in This Edition:

The Corporate Tax Return and Provisions Guide, 2023 edition, has been updated to reflect all 2022 legislative and administrative developments, including federal and provincial budget measures, technical amendments, draft legislation, the latest court cases and government publications, and recent tax articles/journals.

• Substantive CCPCs
• Elimination of tax-deferral advantage available to CCPCs and their shareholders earning passive income through CFAs
• Small business deduction phase-out range amendments
• Mandatory disclosures, notifiable transactions, and reporting of uncertain tax positions
• Application of the GAAR to tax attributes
• GAAR consultation paper
• August 2022 draft legislation – technical amendments
• Pertinent loans or indebtedness (PLOI) and ITA 116 clearance certificates — new CRA guidance
• SR&ED incentives and government assistance — case law updates
• ITC for carbon capture, utilization, and storage
• Canada recovery dividend and additional tax on banks and life insurers
• Critical mineral exploration tax credit
• Flow-through shares for oil, gas, and coal activities
• Hedging and short selling by Canadian financial institutions
• Insurance corporations and financial institutions — implementation of IFRS 17 accounting rules
• International taxation — interest coupon stripping
• Various provincial corporate income tax developments

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