Taxation of Corporations, Partnerships and Trusts, 5th Edition
By: Norman C. Tobias, Ph.D., LL.B. (Toronto), LL.B. (Montreal)
ISBN/ISSN/Product Number: 978-0-7798-8049-2
Product Type: Book
Number of Pages: 478 pages
Number of Volumes: 1 volume bound
Binding: softcover
Publication Date: 2017-10-20
Publisher: Carswell
Price: Price TBD

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A complete resource on the tax treatment of intermediaries

Contributing Editors: L. Alan Rautenberg, B.A., LL.B, LL.M. (Bennett Jones LLP); Martin A.U. Sorensen, B.A. (Hons.), LL.B. (Bennett Jones LLP)

Taxation of Corporations, Partnerships and Trusts, 5th Edition gives you a clear overview of the income tax treatment of the three most common Canadian business and personal planning vehicles.

The author analyzes each area of intermediary taxation in turn, always referencing the provisions of the Income Tax Act that apply. Using each tax concept to build on his discussion of the next, the author provides the structure and support needed to deepen your understanding of intermediary tax fundamentals.

Taxation of Corporations, Partnerships and Trusts, 5th Edition is unique in its focus on the taxation of intermediaries: the corporation, the partnership and the trust (personal trusts, unit trusts and employment related benefits trusts). The author opens with a first-principles discussion of the interpretation of the Income Tax Act and the art of its reading. The application of the Income Tax Act, with relevant sections reproduced, is then elaborated in relation to Corporations and their Shareholders (Part I, Division B, sections 82-89); Partnerships and their Members (Part I, Division B, sections 96-103); and Trusts and their Beneficiaries (Part I, Division B, sections 104-108).

This comprehensive desk reference contains:

  • All the relevant sections of the Act
  • Numerical examples that illustrate the application of complex taxation concepts
  • Convenient finding tools including a Table of Cases, a Table of Statutes, and a Topical index to facilitate easy access to all discussion within the book


The 5th edition reflects all relevant legislative, judicial and administrative developments since the publication of the 4th edition, including:

  • Refinements to the discussion of partnerships taxation;
  • In-depth, contextual elaboration of the graduated rate estate regime;
  • Elucidation of the increasingly complex small business deduction provisions;
  • Commentary on the revised de facto control rules;
  • Discussion of the corporate-level reverberations of the 2016 personal rate increases;
  • Extensively revised and updated discussion of the corporate integration system;
  • Explanation of the revamped capital gains stripping rules; and
  • Implications of the July 18, 2017 Finance proposals and draft legislation, with particular emphasis on dividend (surplus) stripping.
About the Author
Norman Tobias, Ph.D., L.L.B., L.L.B. (Droit civil), advises private clients in matters involving intermediary and private wealth taxation, and clients of Koskie Minsky LLP, a firm with which he is associated as tax counsel, in matters involving pension and benefits taxation. He is a member of the Bars of Ontario and of Quebec and emeritus adjunct professor of law, Queen's University.
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