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Issues of taxation are an inescapable and sometimes inscrutable fact of modern life. While not every lawyer can or should purport to be an income tax specialist, every lawyer should have a general understanding of both the framework for, and general rules governing, income taxation in Canada. Newly revised and thoroughly updated, Halsbury’s Laws of Canada – Income Tax (General) (2012 Reissue) succinctly covers the law governing the taxation of income in Canada and provides an accessible explanation of the general operation of the income tax system. This valuable title concisely covers topics such as:
- Structure of the tax system
- Legislative framework
- Policy objectives
- Tax rates
- Jurisdiction to tax
- Rules governing taxation of individuals
- Residency requirements
- Trusts
- The general principles of interpretation for income taxation legislation
- Income calculation
- Sources of income
- Credits, deductions and statutory rules
- Attribution of income
- Exclusions from income
- Gross versus net income
- Generally accepted accounting principles
- Income from office and employment
- General principles
- Benefits, advances and loans
- Automobiles
- Stock options, deferred salary and other employment income
- Allowable deductions
- Business and investment income
- Categories of income
- Inclusions and exclusions
- Deductions
- Expenditures on account of income vs. capital
- Unreasonable or illegal expenses
- Capital cost allowance
- Eligible capital property
- Interest
- Capital gains and losses
- General rules
- Capital property
- Calculating gains or losses
- Other income and deductions
- Income assignment and attribution
- Taxable income and the computation of tax
- Categories of losses
- Charitable donations
- Alternative minimum tax
- Tax credits
- Personal tax credits
- Tuition, education, medical expenses and impairment
- Pension income
- Dividends, investments and political contributions
- Foreign tax credits
- Tax avoidance and tax evasion
- Common law rules
- General Anti-Avoidance Rule
- Procedural issues
- Audits, objections, appeals and investigations
Special Features
- Enhanced contents
- A general table of contents to the level of chapter headings
- A detailed table of contents to the level of clause headings
- Detailed sectional contents set out within the commentary for each chapter and section
- References and abbreviations — An alphabetical listing of special references and abbreviations used in the volume, with an explanation of their meaning
- Selected secondary sources — Setting out selected texts, articles, and other secondary sources pertaining to the subject that the reader may find to be relevant and helpful
- Glossary of definitions — Identifying words and phrases defined in legislation governing employment relations, and providing the text of the definition in each jurisdiction for easy reference. A valuable quick reference in a field marked by a wide variety of statutes promulgated across many jurisdictions
Plus
- Table of cases
- Table of statutes and statutory instruments
- List of related titles
- Index
Watch a video of the author
Vern Krishna, C.M., Q.C., B.Comm., MBA, LL.B, LL.M, DCL, LL.D, FRSC, LSM, FCGA
Vern Krishna, C.M., Q.C., B.Comm., MBA, LL.B, LL.M, DCL, LL.D, FRSC, LSM, FCGA, is Tax Counsel with Borden Ladner Gervais LLP and Canada’s leading authority on income taxation in Canada. A Professor of Law at the University of Ottawa’s Faculty of Law, Mr. Krishna graduated from the University of Manchester (U.K.) with a B. Comm.; the University of Alberta with an M.B.A. and an LL.B.; Harvard Law School with an LL.M.; and Cambridge University (U.K.) with a diploma in Comparative Law. He is a member of the Ontario Bar (1983), a Fellow of the Royal Society of Canada, a Fellow of the Certified General Accountants of Canada, Queen’s Counsel, and a member of the Order of Canada. Mr. Krishna was the Treasurer of the Law Society of Upper Canada (2001–2003) and is the author of numerous books on domestic and international taxation. He is listed in Who's Who Canada and acts as counsel in tax litigation, international tax planning, and wealth management with Borden Ladner Gervais.
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