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 release:
- Legislation relating to measures announced in the March 2010 Budget (including related legislative proposals that were released on August 27, 2010);
- Legislative proposals released on November 5, 2010 relating to income tax technical amendments;
- Legislative proposals released on December 16, 2010 relating to the Real Estate Investment Trust rules;
- Proposed changes to certain GST/HST rules relating to financial institutions released on January 28, 2011;
- Legislative proposals released in draft form on March 16, 2011 relating to the deductibility of contingent amounts, withholding tax on interest paid to certain non-residents, and the tax treatment of certain life insurance corporation reserves; and
- Outstanding draft legislative proposals relating to foreign affiliates.