On July 18, 2017, Minister of Finance, Bill Morneau announced the release of a Consultation Paper which focused on three tax practices that the Government considers to provide an unfair tax advantage to private corporations and their owners.
A number of changes are being recommended for income sprinkling, passive investment income and capital gains.
If your corporation utilizes one of the above planning strategies, please read this Tax Update for Private Corporations for more details.
Please feel free to contact us if you have questions.
