News & Updates

Department of Finance issues draft amendments for the ITA and Income Tax regulations


September 12, 2023

The Department of Finance issued draft amendments for the Income Tax Act and the Income Tax regulations as tabled in the federal government's 2023 budget.

The proposal includes changes to rules relating to retirement compensation arrangements (RCA), including employer eligibility requirements for obtaining refunds for previously paid refundable taxes in respect of amounts paid (before 28 March 2023) for letters of credit or surety bonds.

Click on more information for an in-depth look at the draft legislation:

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