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ISBN: 9781552212356

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Income Tax Law, 2/e

The long-awaited second edition of Income Tax Law is a comprehensive, up-to-date treatise on income tax law in Canada. The book introduces students and practitioners to income tax law in its broadest dimensions. It addresses the subject matter based on principles, policy, and practice. The objective is to explain what the law is and, more importantly, why it is the way it is, and how it works (or does not).

It examines the policy, structural, constitutional, and judicial framework of income tax law, addressing the following questions: who is taxable?; what is taxable?; how much tax is payable?; when is tax payable?; and how do we administer the system and resolve disputes with the tax collector? The book contains clear explanations of complex principles and formulae, a bibliography, a glossary, and appendices setting out tax rates and measurement of income.

Students of tax law will find this book indispensable. Legal practitioners in business law and litigators will also find it useful in drafting pleadings and assessing damages when considering tax issues in civil litigation. Finally, accountants, business executives, and other professionals will find the book helpful in navigating the murky waters of income tax.

The book includes, in an epilogue, an analysis of the December 2011 Supreme Court of Canada decision in Copthorne Holdings Ltd v Canada.

Contributors

Vern Krishna

Vern Krishna, CM, QC, FRSC, FCGA, MCIArb, earned a B Comm (Manchester), MBA, LLB (Alberta), DCL (Cambridge) and LLM (Harvard). He is a professor at the University of Ottawa Faculty of Law. He is also of Counsel, Borden Ladner Gervais LLP and Executive Director of the Tax Research Centre at the University of Ottawa. Professor Krishna is a member of the Order of Canada and a Fellow of the Royal Society. He has been a Bencher of the Law Society of Upper Canada since 1991 and served as its Treasurer from 2001–03.

Chapter Title Abstract Contributors Pages Year Price

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Introduction of income tax law in its broadest dimensions to students and practitioners. 3 $0.30

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Overview of the income tax system, including the judicial process to resolve disputes, policy objectives, and constitutional limits on the power to expropriate money for governmental purposes. 29 $2.90

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Examination of the shifting rules applied in determining legislative intent in tax law. 16 $1.60

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Examination of the basic question of who is taxable, incorporating issues of residence, exemptions, and Indian status. 27 $2.70

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Examination of the basic question of what is taxable by exploring the definition of income and the concept of source of income. 26 $2.60

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Examination of attempts to shift a tax burden from one taxpayer to another, and the attribution rules that may prevent or restrict such attempts. 11 $1.10

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Examination of the statutory scheme for taxing income from an office or employment, including characterization of an employment relationship and determination of amounts included in and … 37 $3.70

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Examination of the statutory scheme for taxing business income, investment or property income, and capital gains. 29 $2.90

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Examination of the rules for determining what expenses are deductible from business and property revenues to calculate net profit for tax purposes. 72 $7.20

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Examination of the rules for taxation of capital gains and losses, including what constitutes capital property, when a disposition occurs, computation of the gain or loss, and the principal … 40 $4.00

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Examination of the rules governing taxation of receipts and allowances other than from the specified sources of office, employment, business, property and capital gains. 30 $3.00

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Examination of the rules governing tax treatment of damage awards in civil litigation. 15 $1.50

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Examination of the rules governing the deductions available to apply to net income to calculate taxable income. 26 $2.60

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Examination of the statutory scheme for computing the tax liability of individual taxpayers. 14 $1.40

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Brief description of the statutory scheme for computing the tax liability of corporations. 4 $0.40

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Brief description of the foreign tax credit rules and political contributions credit. 5 $0.50

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Examination of tax rules that apply specifically to corporations and their shareholders, including discussion of concepts of the corporate entity and corporate finance, and the different types of … 36 $3.60

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Examination of the rules governing taxation of the business income of private corporations. 19 $1.90

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Examination of the rules governing taxation of corporate investment income. 14 $1.40

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Examination of the general rule distinguishing between arrangements constituting acceptable tax mitigation and unacceptable tax avoidance. 44 $4.40

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Examination of the administrative processes of filing returns, assessment and payment of tax, and penalties and enforcement. 65 $6.50

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Examination of the process of objecting to an income tax assessment, including administrative and judicial appeals. 14 $1.40

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Analysis of a Supreme Court of Canada decision illustrating an evolution from strict and literal interpretation to purposive analysis of fiscal legislation. 13 $1.30

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Discussion of the concept of present and future value of an asset in the income tax context, and some sample calculations. 9 $0.90

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Tables of personal tax credits, personal tax brackets, provincial personal tax rates, general corporate tax rates, and small business tax rates and thresholds. 6 $0.60

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Overview of accounting principles, concepts, and methods in the income tax context. 51 $5.10

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Select list of websites providing tax law information. 1 $0.10

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Glossary of terms related to income tax law. 10 $1.00