Canada's Section 116 system for nonresident vendors of taxable Canadian property
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The work Canada's Section 116 system for nonresident vendors of taxable Canadian property represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
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Canada's Section 116 system for nonresident vendors of taxable Canadian property
Resource Information
The work Canada's Section 116 system for nonresident vendors of taxable Canadian property represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
- Label
- Canada's Section 116 system for nonresident vendors of taxable Canadian property
- 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),
- Geographic coverage
- North America
- Language note
- English
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