Tax & Accounting May 28, 2018

Minister tables NWMM to enact the multilateral convention

Minister of Finance, Bill Morneau, has tabled a 59-page Notice of Ways and Means Motion to implement the multilateral instrument ("MLI"). Since Canada signed the MLI last year, it was anticipated that this legislation would be coming eventually. The backgrounder released by the Department of Finance mentions that the legislation will be tabled in the House of Commons, so it seems that this legislation is about to be included in a bill. The proposed legislation includes provisions with respect to the minimum standard to address treaty abuse, as well as several optional provisions to modify our tax treaties. It looks like our team has a lot of reading to do. A copy of the legislation and a brief backgrounder are available on CCH IntelliConnect and the Department of Finance website. We also have print copies available for $19.95 by calling 1-800-268-4522, or emailing [email protected]
Cameron Mancell
CFP®, Senior Technical Writer at Wolters Kluwer Canada
Cameron Mancell, CFP®, is a Senior Technical Writer at the Wolters Kluwer office in Toronto. Cameron contributes to Canadian Tax Reporter, Preparing Your Income Tax Returns, and Preparing Your Corporate Income Tax Returns, among several others.