Topics to Review
- Background to proposed changes
- Current rules for income splitting with CCPC
- Proposed changes for income splitting with CCPC
- Expanding base of individuals
- Expanding types of split income
- Exemptions
- Planning issues
- What is no longer available or restricted
- What is still available
- To do prior to 2018
- Take‐aways
Background to Proposed Tax Changes
- Federal budget 2017 warning about governmentconcerns as to tax Issues for private corporations
- July 18, 2017 Department of Finance draft legislation, explanatory notes and consultation paper proposing to fundamentally overhaul system of taxation of private corporations, their shareholders and family members
- Very broad changes targeting Canadian‐controlled private corporations ("CCPC") regardless of sector or industry
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