On June 27, 2008, the federal Minister of Finance proposed measures to ease tax compliance for Canadian corporations with foreign affiliates. The changes extend the filing deadline for the foreign affiliate elections in Bill C-28 by 18 months. These elections move the retroactive effective date of various amendments to the foreign affiliate rules back to 1995.
| Tax Memo: Foreign Affiliate Elections: Deadlines Extended (66 KB) Download the full PDF Tax Memo. |