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25 October 2016

Canada's Finance Minister tabled notice of ways and means motion for 2016 budget measures and various technical changes

Federal Finance Minister Bill Morneau tabled a notice of ways and means motion (NWMM) on October 21, that includes the draft legislative proposals that were released on July 29 relating to the remaining outstanding measures announced in the 2016 federal budget, as well as certain previously announced measures from the 2015 federal budget. The NWMM also includes the draft legislative proposals released on April 15 relating to the implementation of the Organization for Economic Cooperation and Development's (OECD's) Common Reporting Standard (CRS), and the draft technical amendments released on January 15 relating to the loss restriction event rules, estate donations, and the income tax treatment of certain trusts and their beneficiaries.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1808

Document ID: 2016-1808

 

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