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Protecting Canada’s private corporations: A closer look at controversial tax proposals

The federal government is proposing changes that will significantly affect the taxation of private corporations and their shareholders. Learn more about this critical issue below and sign up to stay connected on the latest updates.




Collins Barrow urges delay of private company tax proposals

Coming out of their annual board meeting, Collins Barrow is urging the Canadian government to delay the enactment of measures that profoundly change the taxation of private corporations and their shareholders, as proposed in draft legislation introduced July 18, 2017. Read more | Press Release

Class 14.1 tax changes for quota in 2017

Farmers and farm corporations in supply management sectors buy and sell quota regularly. While operational and financial considerations rightly drive these transactions, they are sometimes completed without considering the tax implications. Read more | Farm Alert

Multiplication of the lifetime capital gains exemption: proposed rules

In its Consultation Paper and draft legislation released July 18, 2017, the Department of Finance proposes to restrict the lifetime capital gains exemption (LCGE). The Department of Finance indicates that the current tax rules do not properly prevent the multiplication of the LCGE. In many cases, the exemption of each individual family member is used to shelter gains on a family business. Read more | Tax Alert

Proposed tax changes for family farm corporations

While these proposed amendments will affect all private corporations, several of the proposals will have a significant impact on tax planning for family farm corporations (FFCs) and on inter-generational transfers of farm property (e.g. land, shares of FFCs or an interest in a family farm partnership). Read more | Farm Alert

Increasing the cost of intergenerational business transfers

This Tax Alert focuses on the new rules that attempt to curb strategies that convert corporate after-tax income into capital gains instead of dividends, and how the changes will increase the after-tax cost of financing intergenerational business transfers. Read more | Tax Alert

Finance targets tax planning for private corporations

On July 18, the Department of Finance released a consultation paper outlining a number of measures designed to close down various tax planning strategies currently available to owners of private corporations in Canada with hopes to halt “unfair advantages.”
Read more | Tax Flash