Prepared by Andersen in Canada, Montréal Partner Patrick Coutu and Tax Manager Divya Katyal with support from Inta Simonyan. On February 4, 2022, the government of Canada released draft legislation for comment, implementing new tax measures including some of those remaining from the 2021 Federal Budget (https://ca.andersen.com/blog/canada-federal-budget-2021-highlights/). Below is an overview of some of the major proposals in this […]

On December 29, 2021, Canada Revenue Agency (“CRA”) updated its guidance with Part VII – Supplemental Guidance (1) which extends administrative relief for Canadian resident cross-border workers in respect of their 2021 income tax obligations.  Individuals concerned about their potential income tax issues because of travel restrictions caused by the Covid-19 pandemic continue to obtain relief […]

Prepared by Andersen in Canada, Montreal Partner Patrick Coutu, Tax Director Danny Guérin and Tax Manager Omar Yassine. The tax community has been asking the Canadian government for several years for legislative changes to address the fact that it is currently impossible for Canadians to benefit from their capital gains deduction (“CGD”) when disposing of […]