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Our firm’s response to the July 18, 2017 tax proposals

Major income tax changes that apply to small business were announced July 18, 2017.

On September 28, 2017 Mark Stebbing CPA, CMA of Numbers Plus Professional Corporation will be leading a discussion about the recent (July 18, 2017) tax changes.

Discussion Topics:

Income Splitting: Preventing dividend or wages to go to family members if deemed to be ‘unreasonable’ or to tax them at 53.53%.

Passive Assets: Keeping some profits in the business for a rainy day may soon be subject to a tax of potentially 73% instead of normal rates.

Capital Gains: Leaving a business to a family member now results in about a 93% tax rate in Ontario under the new proposal.  This was made effective immediately!

 

Location: Rib Eye Jack’s, 6531 Mississauga Rd, Mississauga, ON L5N 8C4

 

                  Sponsored by Wealth Business Network

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