taxconnections.com
A Short Primer On Tax Treaties: Canada Tax Treaties Spotlight | TaxConnections
The largest country in the Western Hemisphere, Canada is a parliamentary democracy consisting of ten provinces and three territories. Its primary tax laws derive from the Income Tax Act (RSC 1985, c. 1, 5th Supp.), Excise Tax Act (RSC 1985, c. E-15) and other federal and provincial legislation. Recent tax measures include 100% first-year deduction (capital cost allowance) for certain manufacturing and processing equipment, changes in treatment of derivative forward agreements, foreign affiliate dumping rules, transfer-pricing rules, and rules with respect to cross-border securities lending arrangements, employee stock options, and mutual fund trust redemptions.