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Tax Views: Complex, uncertain split income rules not a good start to 2018 | Vern Krishna

Wednesday, January 10, 2018 @ 8:22 AM | By Vern Krishna

We start the new year enthusiastic about our achievements in Canada. We are also mindful of the chaos that the minister of Finance caused last year with his tax reform proposals to promote so-called “fairness” for the middle class. The new taxes on split income (TOSI) target income shifting among shareholders of private corporations, such as professional corporations.

The rules, first announced in July, revised in October, and tabled in December are effective in 2018. The rules are about as complex as any in the history...