Revised Income Splitting Rules and Guidance

The Department of Finance has released revised draft legislation and background information on its proposals to prevent income splitting. The documents can be accessed here. This release follows on the Department’s private corporation consultation paper of July 18, 2017, which we summarized here.

The Canada Revenue Agency has also released guidance on the application of the draft legislation. The guidance can be accessed here.

The draft legislation is proposed to apply beginning January 1, 2018.

Prepared by: Kyle Lamothe

Kyle is a partner practicing in the firm’s Toronto office. Kyle’s practice focuses on personal, corporate and trust planning for high net worth families, professionals, and owner-managers and their businesses, both domestic and international. He advises on corporate reorganizations, purchases… more »