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| July 2018 |
| Avoiding and Getting Off of The TOSI Highway |
| Bob Boser (CPA, CA, B.Comm) is a tax professional and partner-in-charge of the tax practice at Collins Barrow Red Deer |
| On July 18, 2017 the Federal Finance Minister announced proposals to change the tax rules related to income splitting using private corporations. The original proposals were subsequently withdrawn in October, re-released in December and after further changes the proposed legislation was included in Bill C-74 in March 2018. Bill C-74 received Royal Assent on June 21, 2018 and the new tax on split income (TOSI) rules are now in effect as of the beginning of 2018. |
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| Collins Barrow periodically publishes Tax Alert for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Alert may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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