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On July 18, 2017, the Honourable Bill Morneau, Minister of Finance, released draft legislation proposing tax changes that affect private corporations. One of the key issues addressed was converting income into capital gains for access to lower tax rates by private corporations.
In this update, we will take an in-depth look at the proposed changes and what they mean to business owners.
MNP will be working with our clients to determine potential impacts of the proposed changes and how to mitigate them. We will also be active in the government’s consultation process to ensure our clients’ voices are heard moving forward. For more details, download MNP’s overview of the proposed legislation and / or
contact your local MNP advisor.
You can also access these additional MNP articles on the proposed tax changes:
Related Topics:Small Business; Canada Revenue Agency
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