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Investors have already been able to get rulings on how the agency will tax the income from new investments, but the CRA will bump requests on projects worth more than $1 billion to the front of the line, Finance Minister François-Philippe Champagne said Monday. In their spring economic update, the Liberals promised quick CRA treatment for major nation-building projects, but the $1-billion threshold is new. (The Logic)
Talking point: The announcement is tied to this week’s Canada Investment Summit in Toronto, which is intended to bring in billions of dollars for Canadian projects—from mines to satellites to medical technologies. The existing advance-ruling program promises binding decisions from CRA within 90 days, a target it met 91 per cent of the time in the last fiscal year.
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