Proposed Federal Liberal Government Legislative Changes and Their Far-Reaching Impact
On July 18, 2017, the Federal Liberal government announced proposed legislative changes that will have a far-reaching tax impact on private companies and their shareholders. The draft legislation would mean significant policy changes to the taxation of:
1. Payments to shareholders of private companies,
2. Capital gains realized on the sale of certain private company shares,
3. Income from passive investments inside a private corporation, and
4. The conversion of a private corporation’s income into capital gains.
As a member of DFK Canada, we have compiled four papers that discuss the proposed changes and the potential impact on the taxation of small businesses and their owners. For a copy of each detailed paper, please click on the links below to access our website.
What Are We Doing?
As part of DFK Canada, we are pro-actively seeking changes to these proposals by discussing their impact with our clients and contacting local MP’s to advise them of the far-reaching impact these rule changes will have on small businesses in Canada. Those most impacted by the proposals are being portrayed as the wealthiest of Canadians. We know otherwise. We will continue to keep our clients up to date as we learn more about the proposed changes.
If you have any questions, please do not hesitate to contact our offices. 780.424.3000