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Breakfast For Business Seminar - Wed Sept 27, 2017 - TAX RULES AND FAKE NEWS: CALLING A TAX SHAKE-UP AND A TAXPAYER SHAKEDOWN A “LOOPHOLE” CLOSURE

Wilson Vukelich LLP

Wednesday, September 27, 2017 from 7:45 AM to 10:00 AM (EDT)

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Type End Quantity
Complimentary Ticket Sep 27, 2017 Free  

Share Breakfast For Business Seminar - Wed Sept 27, 2017 - TAX RULES AND FAKE NEWS: CALLING A TAX SHAKE-UP AND A TAXPAYER SHAKEDOWN A “LOOPHOLE” CLOSURE

Event Details

 

We cordially invite you to attend our:

 

Breakfast for Business Seminar

 

TAX RULES AND FAKE NEWS:

CALLING A TAX SHAKE-UP AND A TAXPAYER SHAKEDOWN

A “LOOPHOLE” CLOSURE

 

Presenters:

Rob Martini

Robin MacKnight

Christine Ashton

 

Location:

Edward Village Markham Hotel

(formerly the Delta Markham Hotel)

50 East Valhalla Dr., Markham

(1 block east of Hwy 404 at Hwy. 7)

 

Registration

7:45 a.m.

 

Breakfast and Seminar

8:00 a.m. – 9:30 a.m.

Q & A to follow

 

Cost:

Complimentary

 

Description:

 

THE TAX OVERHAUL: THE CRA TARGETING PRIVATE CORPORATIONS AND SHAREHOLDERS

 

In July 2017, the Federal Government has released a package of new tax measures. The Government and the media have presented these tax measures as closing “unfair” tax “loopholes” and “blind spots”. A legal loophole, by definition, is a gap or a means of avoiding the intent of the law. The changes proposed do not to address “loopholes” or “blind spots”. The changes proposed are an overhaul of the tax planning strategies allowed by the system, and acknowledged and approved by the CRA. The end result will be the most significant overhaul of the taxation of private corporations in Canada during the last several decades.

 

The main proposed measures are:

  1. Income Sprinkling: Currently, private corporations can engage in “income sprinkling” by paying discretionary dividends to family members with lower or zero marginal personal tax rates. Under the proposed changes, dividends and other amounts received from the corporation by an adult non-arms’ length person will be subject to a so-called “reasonableness test”. To the extent that the amount received by the individual is not considered reasonable, the top-rate of tax will apply.
  2. Multiplication of Lifetime Capital Gains Exemption: The capital gains exemption will also be subject to a purported “reasonableness test”, will not be available in respect of any gains that have accrued while the shares have been owned by family trusts, and will not be available for individuals under 18 years old.
  3. Passive Investments in a Private Corporation: The tax deferral advantage on income that is not re-invested into the business will be eliminated.
  4. Capital Gains Stripping: The proposed amendments will address converting income to the principals (e.g. salaries or dividends) to capital gains, which has become more common in tax planning in recent years due to the increases in dividend tax rates.

Where do we go now? At this presentation, we will discuss these proposed changes and what your clients and what business owners can do about these changes.

 

Have questions about Breakfast For Business Seminar - Wed Sept 27, 2017 - TAX RULES AND FAKE NEWS: CALLING A TAX SHAKE-UP AND A TAXPAYER SHAKEDOWN A “LOOPHOLE” CLOSURE? Contact Wilson Vukelich LLP

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When & Where


Edward Village Hotel (formerly Delta Markham Hotel)
50 East Valhalla Drive
Markham, Ontario
Canada

Wednesday, September 27, 2017 from 7:45 AM to 10:00 AM (EDT)


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Organizer

Wilson Vukelich LLP

Wilson Vukelich LLP was founded in 1990, and formed by five Bay Street lawyers who concluded that clients are best served by smaller, more responsive, full service firms. Since its inception, WV has become known for working strategically with their clients, using their knowledge and experience to provide prompt, practical and cost-effective solutions.

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Breakfast For Business Seminar - Wed Sept 27, 2017 - TAX RULES AND FAKE NEWS: CALLING A TAX SHAKE-UP AND A TAXPAYER SHAKEDOWN A “LOOPHOLE” CLOSURE
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