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| - Main Draft Legislation Page - |
Legislative Proposals and Explanatory Notes to Implement Remaining Budget 2006 Income Tax Measures
Published by
The Honourable James M. Flaherty, P.C., M.P.
Minister of Finance
August 2006
Notice to the reader:
The text in this document is an exact copy of the text found in the PDF version. However, the software used to produce this version cannot fully reproduce the underlining and sidebar features found in the other formats. These formats of the document can be found by clicking on the following link:
Related document:
- Canada’s New Government Continues to Deliver on Its Tax Relief Plan (News Release 2006-042)
Table of Contents
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| Clause in Legislation | Section of the Act Amended | Topic | ||
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| Legislative Proposals | ||||
| 2 | 8 | Apprentice mechanic’s tool costs | ||
| 3 | 14 | Eligible capital property | ||
| 4 | 40(1.1) | Reserve – property disposed of to a child | ||
| 5 | 44(1.1) | Reserve – former property disposed of to a child | ||
| 6 | 56 | Other sources of income | ||
| 7 | 60 | Deductions in computing income | ||
| 8 | 63 | Child care expense | ||
| 9 | 70 | Transfer of farm and fishing property to child | ||
| 10 | 73 | Inter vivos transfer of farm property to child | ||
| 11 | 85(5.1) | Acquisition of certain tools – capital cost and deemed depreciation | ||
| 12 | 97(5) | Acquisition of certain tools – capital cost and deemed depreciation | ||
| 13 | 104(21.2)(b) | Beneficiary’s taxable capital gain | ||
| 14 | 108(1) | Definitions | ||
| 15 | 110.6 | Definitions | ||
| 16 | 117(2) | Tax rates applicable to individuals | ||
| 17 | 117.1(1) | Annual adjustment of deductions and other amounts | ||
| 18 | 118(3) | Pension credit | ||
| 19 | 118.02 | Transit pass tax credit | ||
| 20 | 118.6 | Textbook tax credit | ||
| 21 | 118.61 | Unused tuition and education tax credits | ||
| 22 | 118.8 | Transfer of unused credits to spouse or common-law partner | ||
| 23 | 118.81 | Tuition and education tax credits transferred | ||
| 24 | 118.9 | Transfer to parent or grandparent | ||
| 25 | 118.91 | Part-year residents | ||
| 26 | 118.92 | Ordering of credits | ||
| 118.93 | Credits in separate returns | |||
| 118.94 | Tax payable by non-resident | |||
| 27 | 118.95 | Credits in year of bankruptcy | ||
| 28 | 122.51 | Refundable medical expense supplement | ||
| 29 | 123.4(1) | Full rate taxable income | ||
| 30 | 125 | Small business deduction | ||
| 31 | 127 | Deductions from tax payable | ||
| 32 | 127.531 | Basic minimum tax credit determined | ||
| 33 | 128(2)(e) | Where individual bankrupt | ||
| 34 | 137(3) | Credit unions | ||
| 35 | 137.1(9) | Deposit insurance corporations | ||
| 36 to 38 | Part VI | Minimum tax on financial institutions | ||
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| Explanatory Notes | ||||
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| Last Updated: 2006-08-31 |
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