Proposed Federal Mesures (March 2017)

When the budget was presented in March, the federal Government announced its intention to attack certain tax strategies involving private companies and their shareholders. Minister Morneau followed up on this intention on July 18 by filing certain legislative proposals.
The Ministry of Finance is undertaking a consultation process that will end on October 2, 2017, which will address:

 

 

• Income splitting (dividends between family members);
• Taxation of passive income (investments accumulated in companies);
• Conversion of private company income into capital gains;

The proposed changes could have a significant impact on your corporate and tax structure. It is impossible for us at this time to comment on the best approach to adopt, but rest assured that we have our eye on the ball to best advise you when the outcome of the consultation is official.

On behalf of the Porter Hétu International (Qc) Inc. team, let us whish a very enjoyable summer.