TEI Comments on Proposed Interest Deductibility Limits in Canadian Budget 2021.
| Date | 01 March 2022 |
| Published date | 01 March 2022 |
On December 29, 2021, TEI submitted comments to the Department of Finance Canada concerning the government's proposal to introduce a new limitation on the deduction of business interest expense, as described in Budget 2021. In general, the proposal would limit the amount of net interest expense that a corporation could deduct in computing its taxable income to a fixed share of the corporation's earnings. TEI's comments raised a range of concerns with the proposed limitation, including its...
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