Bill C-60 also includes changes relating to customs tariffs (see Part 3) as well as amendments to various other Acts.What's not in the bill
The bill does not contain some other tax changes from the 2013 federal budget such as the life insurance changes, trust and corporate tax loss trading, the mining tax changes, thin capitalization, character conversion transactions, synthetic dispositions, or restricted farm loss changes.
Bill C-60 received first reading on April 29, 2013, so the tax measures contained therein are considered substantively enacted for accounting purposes as of this date.
For details of the 2013 federal budget, see TaxNewsFlash-Canada
2013-10, "2013 Federal Budget Highlights
For more information, contact your KPMG adviser.
Information is current to April 30, 2013. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500