Presented by: Kim G C Moody FCA, TEP (Director, Canadian Tax Advisory) and Kenneth Keung CA, CPA (CO, USA), TEP, CFP, MTAX, LLB (Director, Canadian Tax Advisory).
The “consultation period” for the July 18, 2017 Canadian private corporation tax proposals ended on October 2, 2017. Where do practitioners and their clients go from here? Now is the time to start planning your or your clients’ affairs to maximize benefits under the current rules, take advantage of 2018 transition provisions, and prepare for the possible new regime which may encompass:
- Drastic expansion of the tax on split income (“kiddie tax”) rules to adults;
- Restriction of the ability to claim lifetime capital gain deductions on the “unreasonable” portion of gains, or gains accrued in the hands of minors and most trusts;
- Expansion of section 84.1 causing all basis derived from non-arm’s length capital gains to become “soft basis,” hence completely shutting down all “pipeline” planning;
- Proposed section 246.1, a new anti-surplus stripping rule so broadly drafted that it could apply to both arm’s-length and non-arm’s length transactions; and
- New regime for taxing corporate passive income
This fast paced 105 minute webinar will discuss the following:
- A brief overview of the proposals (participants will be expected to be aware of most of the material but may need a refresher);
- Dividend sprinkling for 2017 – what should you be considering?
- Capital gains crystallization transactions – should you consider this for 2017?
- Issues and traps with the 2018 election for the capital gains deduction – is it better to crystallize or sell?
- Should private corporations be reorganized to take into consideration any aspect of the proposals?
- Trusts – should you be unwinding them?
- What you should be doing with passive assets in your corporation
- Start-ups – are there any great ways to get certainty on family financing?
- Considerations surrounding estate planning documents
- Should you be looking at moving your corporation or assets outside of Canada?
Date: Wednesday, October 18, 2017
Time: 11:00 a.m. – 12:45 p.m. MDT
Investment: $150 (tax included), non-refundable.
Who should attend: We encourage all entrepreneurs and their advisors to participate in this webinar as it will be geared to a wider audience to inform as many business owners as possible.
Please register by midnight on Tuesday, October 17, 2017.