For decades, income splitting was a legitimate planning strategy for Canadian family businesses. Shares were issued to spouses. Dividends were paid to adult children. Trusts were used to distribute corporate profits. Then came the Tax on Split Income. If you…
For decades, income splitting was a legitimate planning strategy for Canadian family businesses. Shares were issued to spouses. Dividends were paid to adult children. Trusts were used to distribute corporate profits. Then came the Tax on Split Income. If you…
Income Splitting After TOSI — What Every Family-Owned Enterprise Must Understand For decades, income splitting was one of the most powerful planning tools available to Canadian family-owned businesses. When structured properly, allocating dividends, capital gains, or trust income among family…
Introduction: The Evolving Landscape of Income Splitting and Tax Planning in Canada Income splitting has been a cornerstone of tax planning for Canadian family-owned businesses for decades. By allocating income among family members, businesses could significantly reduce their overall tax…
Are you looking to optimize your family's tax planning strategies? Understanding the Tax on Split Income (TOSI) and how trusts can be used effectively is crucial for family-owned businesses in Canada. The Tax on Split Income (TOSI) rules were implemented…
