From October 17th, 2017 to October 19th, 2017
During Small Business Week, learn about Proposed Changes to the Taxation of Private Corporations, their Shareholders and related individuals – presented by Famme & Co Professional Corporation
On July 18, 2017, the Federal Government released a series of proposed changes to the taxation of private corporations, their shareholders and related persons. These proposed changes will affect most private corporations in Canada, across every industry.
The proposed changes place new limits on income splitting with family members, restrict access to the capital gains exemption on the sale of shares of a private company, increase the rate of tax on investment income earned by many corporations, and introduce new rules to prevent the conversion of income into capital gains. Some of the changes are to be effective immediately while others are to be effective for the 2018 and subsequent years.
To assist you and your company in planning for these changes, Famme & Co. Professional Corporation is offering information sessions on the proposals as released by the Department of Finance. We invite you to join us at one of the following sessions to learn more about these changes.
Date Time Location
Tuesday October 17th 7:00 pm Best Western Plus Arden Park Hotel
Thursday October 19th 7:00 pm Best Western Plus Arden Park Hotel
Date Time Location
Wednesday October 18th 7:00 pm Four Points Sheraton
If you would like to attend a session, please RSVP to Janet Saunders by October 10th, via phone at 519-271-7581 or email at email@example.com. If you are unable to attend but would like to learn more, please feel free to contact Janet and she will send you an information package following our sessions.
35 organizations from across the country have come together to form the Coalition for Small Business Tax Fairness—a unified voice to oppose the federal government’s tax proposals that would dramatically change the way incorporated small businesses are taxed in Canada.
The 35 business groups—on behalf of the hundreds of thousands of members they represent—have presented a letter to Finance Minister Bill Morneau asking the government to take these proposals off the table and instead meet with the business community to address any shortcomings in tax policy affecting private corporations.
Perrin Beatty, President and CEO of the Canadian Chamber of Commerce stated that “In 10 years at the Canadian Chamber, I’ve never seen an issue that has generated greater concern among our members. To make matters worse, allotting only 75 days for comment in the midst of the summer holidays is not a consultation, it’s a stealth attack on farmers and family businesses. The vast majority of our network’s more than 200,000 members across Canada are SMEs. They will be contacting their MPs to say that these proposals must be scrapped and replaced with measures that support Canada’s entrepreneurs,”
Link to post your comments regarding your concerns: