What's new?

We list the service enhancements and major changes below, including announced income tax changes that were not law when this guide was published. If they become law as proposed, they will be effective for 2020 or as of the dates given.

COVID-19 pandemic measures

In 2020, the Government of Canada introduced several temporary measures to help businesses and individuals affected by the COVID-19 pandemic. For more information on the measures, go to Canada’s COVID-19 Economic Response Plan.

Capital cost allowance (CCA)

The Government of Canada has announced a temporary enhanced first-year capital cost allowance (CCA) rate of 100% for eligible new and used zero-emission automotive equipment and vehicles that currently do not benefit from the accelerated rate provided by Classes 54 and 55. These vehicles and equipment would be included in new Class 56.

In addition, the Government announced an extension of Classes 54 and 55 to include eligible used zero-emission vehicles.

For more information see New Class 56.

Flow-through shares

The Government has proposed extending by 12 months the timelines for spending the capital that flow-through share issuers raise through these shares. It has also proposed to apply Part XII.6 tax as if certain expenditures were incurred up to one year earlier than the date they were actually incurred and to extend the filing and payment deadline for Part XII.6 tax by one year. See Flow-through shares.

Canadian journalism labour tax credit

Changes to the Canadian journalism labour tax credit have been proposed, retroactive to January 1, 2019, to provide a mechanism for the credit to be allocated to members of a partnership. Based on proposed legislation, the credit is to be allocated to qualifying members of a partnership that is a qualifying journalism organization (QJO) based on the relative specified proportions, as defined in subsection 248(1) of the Income Tax Act, of each qualifying member of the partnership for the relevant fiscal period. See T5013SCH58 – Canadian Journalism Labour Tax Credit.

Qualified donee

As of January 1, 2020, registered journalism organizations are qualified donees. This means that a gift to such an organization on or after January 1, 2020 is eligible for the same tax treatment as a gift to a registered charity or other qualified donee.

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