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Budget 2017 announced the government’s plan to release a paper in the coming months that addresses the taxation of private corporations. Tax planning arrangements implemented by high income earners and their corporations appear to be the focus of this document and proposed new policies are expected.
Strategies under review will include:
It seems fair to say that the world is changing. Tax saving strategies are under the microscope and opportunities are closing. It is prudent to assume that there are legislative changes coming – the question becomes how do we prepare for these changes? There may be strategies available that can be implemented for your benefit prior to new legislation being introduced. The window of opportunity may be closing and the time for discussion is now.
For more details on the potential changes to the taxation of private corporations, and how these changes may affect you, please contact your MNP Business Advisor.
Client Groups:Private Enterprise; Technology Media and Telecommunications
Related Topics:Corporate Tax
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