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02 December 2020

Income tax measures from Canada's 2020 federal Fall Economic Statement discussed

Deputy Prime Minister and Minister of Finance Chrystia Freeland announced a broad range of tax measures in her first fall economic update on 30 November. Alongside updates to previously announced measures in connection with the stock option deduction and the Canada Emergency Wage Subsidy (CEWS) (and Canada Emergency Rent Subsidy (CERS)) were new proposals relating to the corporate taxation of digital services and the deduction of home office expenses, among other topics. Sales tax measures and additional details with respect to the measures relating to employee stock options will be discussed in separate EY Tax Alerts.

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

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ATTACHMENT

Full text of Tax Alert

Document ID: 2020-2783

 

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