OTTAWA — Ottawa says investors putting $1 billion or more into the Canadian economy will now get priority access to a program that offers binding decisions from the Â鶹´«Ã½Ó³» Revenue Agency.
Finance Minister Francois-Philippe Champagne’s office made the announcement today as Prime Minister Mark Carney prepared to welcome investors from around the world to a high-stakes investment summit.
A government press release says that through the Advance Income Tax Rulings (AITR) program, qualifying investors can get binding decisions from the CRA on how income tax law will apply before they commit capital.
The government says the new policy will reduce risks and give investors the confidence they need to move major projects forward.
Hundreds of executives and global asset managers are in Toronto today for Â鶹´«Ã½Ó³»’s first-ever investment summit, and Carney, his ministers and premiers from across the country will be pitching investors on opportunities in multiple sectors over the next two days.
The event kicks off Monday evening at the Art Gallery of Ontario with a gala dinner that is closed to the public and the media.
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