This is a comprehensive resource with expert insights, detailed annotations, and updated amendments – all in a portable, two-volume format. It features extensive tax rate tables and the full text of the Canada-U.S. and Canada-U.K treaties.
What's New in This Edition:
- S.C. 2021, c. 26 (Bill C-2), An Act to provide further support in response to COVID-19: Extension of subsidies under the CEWS, CERS and CRHP; Canada Worker Lockdown Benefit Act—consequential amendments
- Bill C-8, Economic and Fiscal Update Implementation Act, 2021 (First Reading Dec. 15, 2021): Certain measures tabled in the Economic and Fiscal Update, including the new Small Businesses Air Quality Improvement Tax Credit and Farmers Fuel Charge Refundable Tax Credit; expanding the Northern Residents Deduction and School Supplies Tax Credit; Underused Housing Tax Act—consequential amendments
- Dec. 14, 2021 Economic and Fiscal Update: Measures not included in Bill C-8, including the Digital Services Tax (excerpts from Supplementary Information, Backgrounders, Update chapters)
- Private Member’s Bill S-216 (First House Reading Feb. 3, 2022; was Bill S-222 in previous session), Effective and Accountable Charities Act (ITA 149.1(1)“charitable activities”, etc.)
- Dec. 3, 2021 draft legislation: Climate action incentive (carbon tax credit) changed to quarterly payments (ITA 122.8)
- Liberal Party election platform promises (Sept. 2021) and Prime Minister’s mandate letters to Cabinet minsters (Dec. 16, 2021), indicating likely amendments
- P.C. 2021-882, Aug. 11, 2021 and P.C. 2021-1012, Dec. 9, 2021: CEWS and CERS amendments (Reg. 8901.2)
- July 22 and Aug. 6, 2021 Agriculture Canada announcements of livestock deferral regions for 2021 (Reg. 7305.01)
- Dec. 23, 2021 Finance release: 2022 automobile dollar limits (Reg. 7305.1, 7306, 7307)
- Various announcements from Finance, CRA and other government departments providing COVID-19 administrative relief, etc. and indicating possible legislative amendments
Why do thousands of practitioners choose the Practitioner's Income Tax Act over any other income tax act?
- "Practitioner's Income Tax Act is...an invaluable reference work that I would not want to be without."
– the late Robert McMechan, HazloLaw
- "I have been using (this act) for a number of years now and every time I read a provision, I make sure that I read the related notes which are incredibly useful..."
– Birju Shah, Senior Manager, International Corporate Tax, KPMG LLP
- ''...Often, the answer to an issue has been cited in the PITA Notes, but not in the other version. That has made my choice obvious for many years."
– Hugh Neilson, Director, Taxation Services, Kingston Ross Pasnak LLP
- “...There’s, quite frankly, no comparison on the market.”
– Jamie Golombek, Managing Director, Tax & Estate Planning, CIBC Private Wealth Management
- “A unique work that is an essential tool and always at my fingertips. I can’t imagine my tax litigation practice without it.”
– David Chodikoff, Partner, Miller Thomson LLP
- “...The Notes are the best starting point for any tax research. A must!”
– Jacques Bernier, Partner, Bennett Jones LLP
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