Taxation of private corporations
Source: CPA Canada
Federal government provides more details on CCPC changes. Senate Committee on National Finance supports CPA Canada in delaying the proposed changes and undertaking a full tax review. Read below for information.
Finance Canada has published details of its proposals aimed at simplifying the treatment of income sprinkling, which are proposed to be in effect for the 2018 tax year and beyond. The Canada Revenue Agency (CRA) has also released guidance with respect to these measures.
All of these documents can be accessed here.
CPA Canada is reviewing all the documents released. In the interim, however, it appears there are attempts at simplification but the latest changes are not simple.