Finance Minister Releases Consultation Paper “Tax Planning Using Private Corporations”

Finance Minister Bill Morneau has released a consultation paper on certain tax planning strategies that involve the use of private corporationsThe paper focuses on the following three issues identified in Budget 2017: (1) sprinkling income using private corporations; (2) holding a passive investment portfolio inside a private corporation; and (3) converting a private corporation’s regular income into capital gains.

Prepared by: Florence Sauve

Florence Sauve is an associate practicing in the firm’s Toronto office. Her practice focuses on all aspects of taxpayer representation and tax litigation and also includes personal and corporate tax planning. Before joining Thorsteinssons LLP, Florence clerked at the Tax… more »