 Canadian Tax Principles (2021)
Preface
2021 Rates, Credits, and Other Data
Chapter 1 Introduction to Federal Taxation in Canada
Chapter 2 Procedures and Administration
Chapter 3 Income or Loss from an Office or Employment
 Chapter 4 Taxable Income and Tax Payable for Individuals
Introduction Taxable Income of Individuals Available Deductions Ordering of Deductions Deductions for Payments—ITA 110(1)(f) Northern Residents Deductions—ITA 110.7 Calculation of Gross Tax Payable Gross Federal Tax Payable Provincial Tax Payable before Credits Provincial Rates Provincial Residence Types of Income Taxes on Income Not Earned in a Province Federal Income Tax Credits General Comments Provincial Amounts Personal Tax Credits—ITA 118(1) Basic Personal Amount—ITA 118(1.1) Background Calculation A Spouse or Common-Law Partner General Overview Individuals with a Spouse or Common-Law Partner—ITA 118(1)(a) Two Credits For the Individual—ITA 118(1)(a)((i) For the Spouse—ITA 118(1)(a)(ii) Individuals Supporting a Dependent Person—ITA 118(1)(b) Overview Eligibility and Eligible Dependant Defined Application Calculation of Eligible Dependant Tax Credit Canada Caregiver Amount for Child—ITA 118(1)(b.1) Single Persons (Basic Personal Tax Credit)—ITA 118(1)(c) Canada Caregiver Tax Credit—ITA 118(1)(d) Eligibility Mental or Physical Infirmity Calculation of the Canada Caregiver Credit Canada Caregiver Credit—Additional Amount [ITA 118(1)(e) & 118(4)(c)] Other Tax Credits for Individuals Age Tax Credit—ITA 118(2) Pension Income Tax Credit—ITA 118(3) General Rules Individuals 65 or Over Individuals under 65 Canada Employment Tax Credit—ITA 118(10) Adoption Expenses Tax Credit—ITA 118.01 Digital News Subscriptions Credit—ITA 118.02 Home Accessibility Tax Credit—ITA 118.041 Described Qualifying and Eligible Individuals Eligible Dwelling Qualifying Renovations and Expenditures First-Time Home Buyers' Tax Credit—ITA 118.05 Volunteer Firefighters and Volunteer Search and Rescue Workers Tax Credits—ITA 118.06 and 118.07 Charitable Donations Tax Credit—ITA 118.1 Extent of Coverage in This Chapter Eligible Gifts Limits on Amount Claimed Calculating the Donation Credit Carry Forward of Charitable Donations Medical Expense Tax Credit—ITA 118.2 Qualifying Medical Expenses Determining the Credit Twelve-Month Period Example of Medical Expense Tax Credit Calculation Disability Tax Credit—ITA 118.3 Calculation Disability Credit Transfer to a Supporting Person Other Credits and Deductions Related to Disabilities Education-Related Tax Credits Tuition Fees Tax Credit—ITA 118.5(1) to ITA 118.5(4) Online and Correspondence Courses Ancillary and Examination Fees Included in Tuition Fees Tax Credit Interest on Student Loans Tax Credit—ITA 118.62 Carry Forward of Tuition Fees Tax Credit—ITA 118.61 Transfer of Tuition Fees Tax Credit - ITA 118.9 Employment Insurance (EI) and Canada Pension Plan (CPP) Tax Credits—ITA 118.7 Overpayment of EI Premiums and CPP Contributions Transfers to a Spouse or Common-Law Partner—ITA 118.8 Political Contributions Tax Credits—ITA 127(3) Canada Elections Act Income Tax Rules Labour-Sponsored Venture Capital Corporations Credit—ITA 127.4 Dividend Tax Credit Foreign Tax Credits Investment Tax Credits Refundable Credits Introduction GST/HST Credit—ITA 122.5 Refundable Medical Expense Supplement—ITA 122.51 Canada Workers Benefit—ITA 122.7 Calculation of the Canada Workers Benefit Refundable Teacher and Early Childhood Educator School Supply Tax Credit—ITA 122.9 Climate Action Incentive Payments Background The Refundable Credit Canada Training Credit—ITA 118.5(1.2) & 122.91 The Credit Base Calculating the Refund Social Benefits Repayment (OAS and EI) Basic Concepts Clawbacks Treatment in Net and Taxable Income Employment Insurance (EI) Benefits Clawback Old Age Security (OAS) Benefits Clawback Comprehensive Example Basic Data Net and Taxable Income Tax Payable/Federal Balance Owing References Chapter 5 Capital Cost Allowance
Chapter 6 Income or Loss from a Business
Chapter 7 Income or Loss from Property
Chapter 8 Capital Gains and Capital Losses
Chapter 9 Other Income and Deductions, and Other Issues
Chapter 10 Retirement Savings and Other Special Income Arrangements
Chapter 11 Taxable Income and Tax Payable for Individuals Revisited
Chapter 12 Taxable Income and Tax Payable for Corporations
Chapter 13 Taxation of Corporate Investment Income
Chapter 14 Other Issues in Corporate Taxation
Chapter 15 Corporate Taxation and Management Decisions
Chapter 16 Rollovers Under Section 85
Chapter 17 Other Corporate Rollovers and Sale of a Corporate Business
Chapter 18 Partnerships
Chapter 19 Trusts and Estate Planning
Chapter 20 International Issues in Taxation
Chapter 21 GST/HST
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