Section 67.7

Subsection 67.7(1)

Non-Compliant Amount

Articles

Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission

Wording of non-compliant amount does not reflect different timing for various deductions

  • The wording, ÔÇťoutlays made, or expenses incurred, in...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Short-Term Rental

Articles

Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission

Limiting to short-term rentals by the taxpayer

  • It would seem appropriate to add the limitation that the short-term rental definition refers to...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Subsection 67.7(2)

Articles

Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission

Advantage to non-residents

  • Non-residents who are not subject to Part I tax have a tax advantage over Canadian residents regarding the taxation of...

The text of this content is paywalled except for the first five days of each month. Subscribe or log in for unrestricted access.

Subsection 67.7(4)

Articles

Joint Committee, "Subject: Proposed section 67.7 of the Income Tax Act", 5 February 2024 Joint Committee Submission

Unlimited assessment period

  • Quaere whether it is necessary to provide no time limit on CRA assessments under s. 67.7.