The Stikeman Elliott Federal Budget Commentary 2017

Stikeman Elliott's Tax Group has prepared a commentary on the 2017 federal budget. Download: English (148.3 Kb), French (411.0 Kb)

Highlights include:

Resource Measures

  • Expansion of Accelerated CCA and CRCE Treatment to Geothermal Heating
  • Reclassification of Discovery Wells as CDE
  • Phase Out of Rule Deeming First $1M of CDE to be CEE
  • Extension of the Mineral Exploration Tax Credit

Changes to Timing of Recognition of Income from Derivatives

  • Option to elect to have mark-to-market treatment of certain derivatives
  • New stop-loss rules relating to certain "straddle transactions"

Other Income Tax Changes

  • Clarification of de facto control of a corporation
  • Increased ability for switch funds and segregated funds to merge
  • Changes to rules impacting foreign branches of life insurers