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61 Tax Memo 1 (1979)

handle is hein.journals/taxmmo61 and id is 1 raw text is: TAX MEMO March 1979 © 1979, Canadian Tax Foundation 1978 TAX DEVELOPMENTS This Memo brings together in one pub- lication the actirities in the tax field during 1978 of the federal government and the ten provinces. Included are federal and provincial budgets, statutory legislation and regulations to implement budgetary announcements, and, where possible, an explanation of why any budgetary announcements were not pro- ceeded with. Non-budgetary tax devel- opments are also included. For details, commercial and government sources should be consulted. This is the fourth in the Foundation's series designed to provide information on annual tax developments in Canada. FEDERAL April Budget: Tax Proposals The federal government brought down its 1978-79 budget on April 10, 1978. The following tax changes were announced. Personal Income Tax 1. Free Board and Lodging at Remote Work Sites The exemption from the taxable benefit rule in respect of free board and lodging provided at remote work sites (logging camps, construction projects, drilling locations, etc.) is extended to all work- ers, not just to those with married or equivalent status, applicable to the 1978 and subsequent taxation years. 2. Employee and Shareholder Loans The exemption from the taxable benefit rule in respect of interest-free or low- interest loans made by an employer to enable an employee or shareholder to 100 University Avenue Toronto, Canada M5J 1V6 Additional copies of this Memo may be obtained at a price of $3.50. ISSN 0576-6230 No. 61 CANADIAN TAX FOUNDATION L'ASSOCIATION CANADIENNE D'ETUDES FISCALES

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