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ARTICLE · 07 DECEMBER 2023

Implementation Bill For Variety Of Canadian Tax Measures Introduced

Osler, Hoskin & Harcourt LLP
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The Fall Economic Statement Implementation Act, 2023 includes a variety of tax measures that were introduced in Parliament on November 30, 2023, as Bill C-59.

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Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
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Osler's National Tax Group has prepared in-depth analysis of these developments. See our Updates on the revised EIFEL rules and the clean energy tax credits.

The Fall Economic Statement Implementation Act, 2023 includes a variety of tax measures that were introduced in Parliament on November 30, 2023, as Bill C-59. The bill includes measures first announced in the 2023 Fall Economic Statement, as well as updated versions of draft legislation released in August 2023, the 2023 federal budget and earlier. The Canadian federal government also released Explanatory Notes [PDF] in respect of most of the measures in Bill C-59 on the same day.

Key outstanding measures that are not included in Bill C-59 are the Global Minimum Tax Act (draft legislation released August 4, 2023), amendments to Canada's transfer pricing regime (consultation paper released June 6, 2023) and the second legislative package of hybrid mismatch rules. Each of those measures is expected to be released

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