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ARTICLE · 09 SEPTEMBER 2014

Selected International Measures From August 2014 Legislative Proposals

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On August 29, 2014, the Minister of Finance released for consultation draft legislative proposals to amend the Income Tax Act (Canada).

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Paul Stepak
Paul Stepak
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On August 29, 2014, the Minister of Finance released for consultation draft legislative proposals (August 29 Proposals) to amend the Income Tax Act (Canada) (Act) which would implement certain measures from the 2014 federal budget as well as certain other measures. The government has invited comments by September 28, 2014. It is expected that the government will then introduce these measures into Parliament in the autumn 2014 session.

Included among the August 29 Proposals are measures revising the "back-to-back loan" rules which partially scale back the overbroad initial proposals. Also included are proposals to amend the foreign affiliate dumping (FAD) rules which, while generally relieving, contain a strong incentive to ensure compliance requirements are met. The press release announcing the August 29 Proposals (Press Release) also addressed the status of the government's treaty shopping proposals. For a discussion of other measures from the 2014 federal budget,

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