Previously Announced Measures

April 21, 2015

The Budget confirms the Federal Government’s intention to proceed with the following previously announced tax and related measures, as modified to take into account consultations and deliberations since their announcement or release:

(i)         Legislative proposals released on July 12, 2013, providing new rules to ensure an appropriate income inclusion for stub-year foreign accrual property income on dispositions of foreign affiliate shares.

(ii)        Legislative amendments proposed in Economic Action Plan 2014 to ensure that the Office of the Chief Actuary can efficiently and effectively deliver its services to key clients.

(iii)       Measures announced in Economic Action Plan 2014 relating to the Goods and Services Tax/Harmonized Sales Tax joint venture election.

(iv)       A proposed change announced on December 23, 2014 to the limit on the deduction of tax-exempt allowances paid by employers to employees that use their personal vehicle for business purposes.

(v)        Regulatory proposals released on February 19, 2015, establishing a capital cost allowance rate of 30 per cent for equipment used in natural gas liquefaction and 10 per cent for buildings at a facility that liquefies natural gas.

(vi)       Measures announced on March 1, 2015 to support Canadian mining:

(a)  Extending the 15% Mineral Exploration Tax Credit for investors in flow-through shares for an additional year, until March 31, 2016; and

(b)  Ensuring that the costs associated with undertaking environmental studies and community consultations that are required in order to obtain an exploration permit will be eligible for treatment as Canadian Exploration Expenses.

(vii)      Measures to make the new Family Caregiver Relief Benefit and Critical Injury Benefit, announced on March 17, 2015 and March 30, 2015, non-taxable to Veterans.

The Budget also reaffirms the Federal Government’s commitment to move forward as required with technical amendments to improve the certainty of the tax system.

If you have any questions regarding our 2015 Federal Budget Review, please feel free to contact a member of our Tax Group.

Miller Thomson LLP Tax Group

Toronto
Rachel L. Blumenfeld 416.596.2105
Ilan Braude 416.595.2956
Mary Anne Bueschkens 416.595.7938
John M. Campbell 416.595.8548
Donald Carr 416.595.8506
David W. Chodikoff 416.595.8626
Ron Choudhury 416.597.4398
Gerald D. Courage 416.595.8163
Sheila Crummey 416.595.8507
Nicole K. D’Aoust 416.595.7926
Carla Figliomeni 416.597.4355
Lyne M. Gaulin 416.595.8590
Robert B. Hayhoe 416.595.8174
James A. Hutchinson 416.597.4381
Kate Lazier 416.595.8197
Birute Luksenaite 416.595.8543
Susan M. Manwaring 416.595.8583
Peter A. Milligan 416.595.8529
Alison Minard 416.595.2957
Rae Rechtsman 416.597.4344
Rosanne T. Rocchi 416.595.8532
Martin J. Rochwerg 416.596.2116
Rahul Sharma 416.597.4335 
Natasha Smith 416.595.8552
Amanda J. Stacey 416.595.8169
Andrew Valentine 416.595.2980

Calgary
Gail P. Black 403.298.2410
William J. Fowlis 403.298.2413
Bryant D. Frydberg 403.298.2456
Victoria L. Hockley 403.298.2455
Andrea Lamy 403.298.2497
Shashi Malik 403.298.2443
Regan A. O’Neil 403.298.2452
Gregory P. Shannon 403.298.2482
Brian Wells 403.298.2437

Vancouver
Stephen Rukavina 604.613.1277
Cheryl M. Teron 604.643.1286

Edmonton
Lesley M. Akst 780.429.9709
Wendi P. Crowe 780.429.9764
Bruce N. Geiger 780.429.9774
Brendon G. Ho 780.429.9717
Katherine MacRae 780.429.9702
Joseph W. Yurkovich 780.429.9716

Regina
George Nystrom 306.347.8392
Graham Purse 306.347.8338

Saskatoon 
Crystal Taylor 306.667.5613

Kitchener-Waterloo
Stephen R. Cameron 519.593.3207

Montréal
Richard Barbacki 514.905.4224
Bertrand Leduc 514.871.5451
Nathalie Marchand 514.905.4225
Troy McEachren 514.871.5422
Christos Panagopoulos 514.871.5452
Normand Royal 514.871.5453
Tamila Ziani 514.871.5468

Miller Thomson LLP Customs and Commodity Tax Lawyers

Ron Choudhury 416.597.4398
William J. Fowlis 403.298.2413
Bertrand Leduc 514.871.5451
Christos Panagopoulos 514.871.5452
Stephen Rukavina 604.613.1277
Joseph W. Yurkovich 780.429.9716

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