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The Advantages of Surplus Stripping and Disintegration – Section 84(2)

Surplus stripping is back in the news with recent changes to legislation.  This makes it imperative to understand past court decisions on this matter.  Surplus stripping allows a taxpayer to receive funds that that have been earned by a corporation and subjected only to the corporate tax rates, without paying the personal dividend tax rate. …
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Act Now for Intergenerational Transfers – Bill C-208 Amendments to Section 84.1

There is still a window of opportunity for tax savings when transferring a business to a corporation owned by your child or grandchild and being allowed to claim the lifetime capital gains exemption before amendments are proposed to Bill C-208. Bill C-208 is a private member sponsored bill that allows small business owners to claim…
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Splitting Income with Minor Children with Capital Gains Planning

Although income splitting with your children has become difficult, there is still some opportunities currently available that include using marketable securities, a Trust and a tax professional. Historically, income spitting was addressed through attribution rules.  These rules were circumvented through taxpayers winning court cases that established dividends were not attributable between shareholders (see Mcclurg v…
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Important Dates

Please note the following important dates are estimates only.  Please confirm your deadlines directly with your professional advisor. May 15, 2022           – April payroll remittances due May 31, 2022           – Fiscal year end February 28th tax payments due May 31, 2022           – Fiscal Year end November 30th tax filings due May is a…
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