The Resource Canada's Section 116 system for nonresident vendors of taxable Canadian property

Canada's Section 116 system for nonresident vendors of taxable Canadian property

Label
Canada's Section 116 system for nonresident vendors of taxable Canadian property
Title
Canada's Section 116 system for nonresident vendors of taxable Canadian property
Creator
Subject
Language
eng
Summary
Section 116 of the Income Tax Act (Canada) may apply when a nonresident of Canada disposes of property that is considered to have a significant connection to Canada. The purpose of section 116 and related provisions is to protect Canada's right to tax nonresidents on gains from the disposition of such taxable Canadian property. This special report analyses the three principal obligations created by these provisions (the 116 system) and incorporates changes to these rules announced and enacted into law in 2008, as well as subsequent amendments made in 2010 relating principally to the scope of property that comes within the 116 system
Citation source
In: Tax notes international. - Falls Church. - Vol. 66 (2012),
http://library.link/vocab/creatorName
  • Suarez, S
  • Gosselin, M-E
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • immovable property
  • non-resident
  • tax treaty
  • penalties
Label
Canada's Section 116 system for nonresident vendors of taxable Canadian property
Instantiates
Publication
Label
Canada's Section 116 system for nonresident vendors of taxable Canadian property
Publication

Library Locations

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      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.37366609999999 4.9336932
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