Archive for August, 2017

Proposed Tax Changes

Tuesday, August 1st, 2017

FUNDAMENTAL changes to private corporations have been announced that could significantly affect entrepreneurs and incorporated professionals

On July 18, 2017, the Canadian Department of Finance released a consultation paper that proposes ground-breaking modifications to the Income Tax Act. Should they become law, these proposals could drastically affect private companies and their shareholders.  The proposals are a complete u-turn on decades of case law founded and CRA accepted practice.