Many financial institutions will be affected by tax changes in new draft legislation that Finance released on September 8, 2017.
Although Finance already announced some of these measures in the 2017 federal budget, the legislation also contains some unanticipated amendments that may affect certain financial institutions, including some welcome relief for investment fund corporations and new rules affecting some limited partnerships. In addition, the new legislation clarifies or modifies certain aspects of some previously announced measures.
Specifically, the legislative proposals will affect:
Download this edition of the TaxNewsFlash to learn more.
© 2017 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.