At a recent West Island of Montreal Chamber of Commerce (WIMCC) breakfast seminar, Julie S. Leduc presented an update on the current status of the new Federal tax reform, more specifically on changes to income-splitting strategies using private corporations and the taxation of passive investment within private corporations. The seminar was well attended by business owners in the West Island.
The presentation led to interesting discussions amongst the participants and practical examples of the upcoming issues were analyzed. There are still many unanswered questions that the Minister of Finance will need to address as proposed legislation is tabled later this fall or next spring. Once the proposals are clarified, we will post these to the blog portion of our website.