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New Canadian Tax Measures Information

Author: Nair & Co.

Published: 2012-05-07 : (Rev. 2016-03-24)

Synopsis:

Details of new tax measures including an expanded list of medical devices and prescription drugs free from Goods and Services Tax and Harmonized Sales Tax.

Main Digest

Canada Releases Details of New Tax Measures - The Canadian Finance Minister announced details of the new tax measures which include an expanded list of medical devices and prescription drugs that are free from Goods and Services Tax/ Harmonized Sales Tax.

The Economic Action Plan 2012 also details penalties for falsified registration of charitable tax shelters as well as authorizes the Canada Revenue Agency to issue demands for filing returns either through an online notice or by mail.

The details of the new and previously announced tax measures are as follows:

Enhancing Accountability for Charitable Donation Tax Shelters:

Measures Related to Improving Business Investment in Canada:

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