Feigenbaum Law

passive investment income

Tax changes

Personal Tax Planning

Canadian Business Owners Outraged by Ottawa’s Proposed Tax Changes

In July, the Finance Minister announced proposed tax changes that, if passed, will affect private corporations.  The stated purpose of the changes is to crack down on individuals using corporations to pay less taxes. Following the announcement, the Minister launched a 75-day consultation period on three proposed changes: Restrictions on “income splitting” (i.e. business owners shifting a portion of income to family members through salary or dividends); Curtailing “passive investment income” (i.e. Read More