Major Tax Changes Affecting Private Corporations

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On July 18, 2017, the federal government released a discussion paper outlining proposed significant tax changes that will impact tax planning for private corporations and their shareholders.  The paper focuses on three main issues: 1) income sprinkling, 2) holding passive investments inside of a private corporation, and 3) converting a private corporation’s regular income into capital gains.  This month’s newsletter summarizes the highlights of the discussion paper.