The CRA safe income policy changes announced on 28 November 2023 are effective for taxation years commencing after that date

Today, the Canadian Tax Foundation posted the following message on CRA’s behalf regarding CRA presentation on “S. 55(2) and Safe Income - Where Are We Now?”:

Pursuant to our presentation on Safe Income at the 2023 Annual Conference on November 28, 2023, all announcements that constitute a change in position will apply prospectively to calculations of safe income for taxation years beginning after November 28, 2023.

Neal Armstrong. Summary of 4 December 2023 Canadian Tax Foundation Event Announcement under s. 55(2.1)(c).