Introducing income tax folios
What are income tax folios?
The folios are new, web-friendly technical publications that update the information in the income tax interpretation bulletins (IT bulletin) and income tax technical news (ITTN). Folios might also cover topics that were not addressed by an IT bulletin.
The folios are organized by broad categories into seven series. Each series is made up of several folios that represent general topics in that series. Each folio is then subdivided into topic-specific chapters. This subject matter grouping makes it easier to find the right information.
What do folios offer?
A folio chapter presents the Canada Revenue Agency's (CRA) interpretation of the law as it applies to the most material aspects of the subject. Folio content will be updated when:
- an interpretation changes, or
- other major developments occur.
Every chapter has a chapter history that explains any technical changes.
Folios are not complete summaries of case law. They also cannot explain how every provision of the law will apply to all situations. The comments in a folio relate to provisions of the law in force at the time of publication but are not a substitute for the law.
To allow for feedback from the tax community, newly published folio chapters have a 3-month comment period. During this period, the folio chapter can be relied upon as an accurate summary of the CRA’s interpretation of the law.
To be notified of new or updated income tax folios, subscribe to our electronic mailing list.
The update process will take several years but chapters will be published as they are completed. At that time, the related IT bulletin(s) or ITTN(s) will be cancelled.
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