Do you understand what the July 18, 2017 private corporation tax proposals mean for your business or for your clients?
Complimentary information session presented by: Moodys Gartner Tax Law and Wildeboer Dellelce LLP
Presenters: Kim G C Moody FCA, TEP (Director, Canadian Tax Advisory) of Moodys Gartner Tax Law, and Katy Pitch (Tax Partner) of Wildeboer Dellelce LLP
On July 18, 2017, the Government of Canada released tax proposals that will have a dramatic effect on the taxation of private corporations and their shareholders. These untoward proposals represent some of the most punishing tax changes for entrepreneurs in the last 50 years. The consultation period for these proposals is very short, and ends on October 2, 2017. Although many organizations are pushing for an extension of the consultation period, there is no guarantee it will occur.
Moodys Gartner Tax Law will be holding an information session geared towards private corporations, their shareholders, and any of their advisors. It is important that individuals potentially affected by these proposals become aware of the possible consequences and learn what their next steps should be.
Topics that will be covered in the information session are:
- Proposed taxation changes to income splitting and capital gains deduction rules;
- Proposed taxation changes to the accumulation of passive assets/income in a private corporation;
- Proposed taxation changes to the conversion of otherwise taxable dividends to capital gains;
- Are these proposed changes necessary to achieve “fairness”?
- What should you do as a result of these proposals?
Date: Wednesday, September 20, 2017
The Omni King Edward Hotel
37 King St E, Toronto, ON M5C 1E9
Vanity Fair Ballroom, 2nd floor
Time: 8 – 9:45 a.m. EDT
Please register by midnight on Tuesday, September 19, 2017. Information session subject to capacity.
Below you will find all the relevant media coverage, blogs/podcasts, and presentations about the new Canadian private corporation tax proposals:
- Kim G C Moody is quoted in an article entitled “Small-business tax fight dominates Parliament’s return”, September 18, 2017, The Canadian Press
- Greg Gartner is quoted in an article entitled, “Feds refuse to back down on proposed tax changes”, September 18, 2017, The Western Producer
- Kim G C Moody is quoted in an article entitled “Central Albertans speak out on Liberal tax changes”, September 14, 2017, Sylvan Lake News
- Greg Gartner is quoted in an article entitled, “Farmers furious over Ottawa’s tax changes, but too busy harvesting crops to mount a fight”, September 7, 2017, Financial Post
- Kim G C Moody speaks with BNN about how the new tax proposals could have a ‘devastating’ effect on Canadians, August 30, 2017, BNN
- Kim G C Moody speaks with Global News about what the new private corporation tax proposals could mean for business owners, August 30, 2017, Global News
- Kim G C Moody is quoted in an article entitled “Warkentin condemns tax hikes”, August 30, 2017, Fairview Post
- Kim G C Moody is quoted in an article entitled “Concern mounts over Morneau’s proposed tax changes affecting small businesses”, August 29, 2017, The Globe and Mail
- The Financial Post published an article written by Kim G C Moody and Kenneth Keung on August 16, 2017, Financial Post
- Kim G C Moody is quoted in an article entitled “Small business owners say they are unfairly targeted by proposed tax changes”, August 13, 2017, CBC News
- Kim G C Moody is quoted in an article entitled “Beware the unintended consequences of Ottawa’s private corporation tax changes”, August 1, 2017, Financial Post
- Kim G C Moody is quoted in an article entitled “Tax changes would hurt profitable businesses, opponents warn Ottawa”, July 19, 2017, The Globe and Mail
- Moodys Gartner Tax Law has been giving live seminars and webinars on the proposed tax changes. View a copy of our presentation here.
- Moodys Gartner Tax Law has also presented to the University of Calgary School of Public Policy on How Not to Win Friends and Influence People When Changing Private Corporation Tax Policy.
- The Liberals want to wipe out the family farm!?
September 9, 2017 | by Greg Gartner CA, QC
- Private corporation tax proposals unquestionably harm “middle-class” business owners
August 29, 2017 | by Kenneth Keung CA, CPA (CO, USA), CFP, LLB, MTAX, TEP and Kim G C Moody FCA, TEP
- The integrity of the consultation period for the private corporation tax proposals
August 24, 2017 | by Kim G C Moody FCA, TEP
- The demonization of small business and their advisors
August 18, 2017 | by Kim G C Moody FCA, TEP
- Income splitting: Is it time to re-visit a 1966 Canadian tax reform idea?
August 9, 2017 | by Kim G C Moody FCA, TEP and Kenneth Keung CA, CPA (CO, USA), CFP, LLB, MTAX, TEP
- TaxBreaks Episode 006 – Private Corporation Tax Proposals
August 8, 2017 | by Moodys Gartner
- More proposed reforms to small business taxation announced
July 18, 2017 | by Elan Harper MBA, Kim G C Moody FCA, TEP, Greg Gartner CA, QC and Lauchlin MacEachern LLB
Myths and Facts:
- In an effort to help navigate some of the confusing information surrounding this topic, we have compiled a sheet of Myths and Facts to help you determine who or what you should believe.
Letter to the Minister:
- Our firm’s correspondence to the Minister of Finance
September 3, 2017 | by Moodys Gartner
- Our firm’s correspondence to the Minister of Finance…Round 2
September 13, 2017 | by Moodys Gartner
- A friend of our firm – Jay Goodis of Tax Templates Inc. – has developed a document that contains corresponding information and resources.
- Your template email
This is a great starting point for reaching out to your MP. Feel free to modify it to your appropriate situation. It is important that you contact your MPs to discuss these monumental changes. To find the complete lists of MPs click here.