The long-awaited second edition of Income Tax Law is a comprehensive, up-to-date treatise on income tax law in Canada. The book introduces students and practitioners to income tax law in its broadest dimensions. It addresses the subject matter based on principles, policy, and practice. The objective is to explain what the law is and, more importantly, why it is the way it is, and how it works (or does not).
It examines the policy, structural, constitutional, and judicial framework of income tax law, addressing the following questions: who is taxable?; what is taxable?; how much tax is payable?; when is tax payable?; and how do we administer the system and resolve disputes with the tax collector? The book contains clear explanations of complex principles and formulae, a bibliography, a glossary, and appendices setting out tax rates and measurement of income.
Students of tax law will find this book indispensable. Legal practitioners in business law and litigators will also find it useful in drafting pleadings and assessing damages when considering tax issues in civil litigation. Finally, accountants, business executives, and other professionals will find the book helpful in navigating the murky waters of income tax.
The book includes, in an epilogue, an analysis of the December 2011 Supreme Court of Canada decision in Copthorne Holdings Ltd v Canada.
Table of Contents
PART I: Introduction
Chapter 1: An Overview of Tax Law and Concepts
Chapter 2: Statutory Interpretation
PART II : Who Is Taxable?
Chapter 3: Tax Nexus
Chapter 4: The Meaning of Income
PART III : What Is Taxable?
Chapter 5: Whose Income Is It?
Chapter 6: Office and Employment Income
Chapter 7: Business and Property Income
Chapter 8: Business and Property Deductions
Chapter 9: Capital Gains and Losses
Chapter 10: Other Income and Deductions
Chapter 11: Damages
Chapter 12: From Net Income to Taxable Income
PART IV: How Much Tax?
Chapter 13: Computation of Tax: Individuals
Chapter 14: Computation of Tax: Corporations
Chapter 15: Tax Credits
PART V: Corporations
Chapter 16: Basic Principles
Chapter 17: Corporate Business Income
Chapter 18: Corporate Investment Income
PART VI: Tax Avoidance
Chapter 19: General Anti‑Avoidance Rule
PART VII : Administrative Processes
Chapter 20: Filings, Assessments and Related Issues
PART VIII : Judicial Process
Chapter 21: Objections and Appeals
PART IX: Appendices
Appendix A: The Time Value of Money
Appendix B: Tax Rates
Appendix C: Measurement of Income
Appendix D: Free Internet Resources
Table of Cases