Tax professionals dealing with resource taxation need a solid understanding of the fundamental tax treatment of their industry to plan their company projects effectively. Carswell’s resource taxation titles will help you with topics ranging from flow-through shares/limited partnerships to Canadian Exploration Expense to thin capitalization, all while ensuring that you get the straight answers on tax planning and compliance for the resource sector.
Recent Updates to Canadian Resource Taxation
Chapter 2 — Summary of Definitions and Terms: The subsection regarding rental and royalty for Canadian resource property has been updated with new commentary. A new subsection, non-qualifying royalties, has been added to the Canadian resource property section. Commentary has been added for prescribed flow-through shares
Chapter 4 — Deduction of Expenditures: Commentary has been added regarding the March 29, 2012 Federal Budget expanding Class 43.1 and Class 43.2 with respect to waste-fuelled thermal energy equipment and equipment of a district energy system. Commentary regarding pre-budget 2007 and post-budget 2007 has been removed from the subsection regarding capital cost allowance for classes 43.1 and 43.2.
Chapter 8 — Flow-Through Shares: The sections on stacking arrangements and adjustment have been updated.
Chapter 10 — Partnerships: A new section, Taxation of Corporate Partners, containing new commentary has been added to the section regarding income tax status of partnerships