TAX ALERT – GOVERNMENT SIMPLIFIES MEASURES TO REIN IN INCOME SPRINKLING

On December 13, the federal government released legislation to simplify restrictions on income sprinkling, proposed to go into effect January 1, 2018. These revisions indicate they have listened to feedback during the consultation period, by providing more certainty to taxpayers through the introduction of “bright-line” tests to automatically exclude some family members, and allow income sprinkling for those members who make sufficient contributions to the business.

A summary of what the revised legislation contains can be found at https://www.bdo.ca/en-ca/insights/tax/tax-alerts/

 

Comments are closed.

Contact Us

Padgett Business Services

1511 10 Street SW Calgary, AB T2R 1E8
Phone: (403) 220-1570

Email: Padgett Calgary

Subscribe to our SMALL BIZ BUILDER Newsletter.
Yes Please!

Our Rating

Click for the BBB Business Review of this Accountants - Certified Public in Calgary AB

Follow us