News
Tax 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:
- Payments to shareholders of private companies,
- Capital gains realized on the sale of certain private company shares,
- Income from passive investments inside a private corporation, and
- The conversion of a private corporation’s income into capital gains.
DFK Canada firms have collectively 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 above links to access our website.
What Are We Doing?
Member firms of DFK Canada are pro-actively seeking changes to these proposals by discussing their impact with 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 member clients up to date as we learn more about the proposed changes.
