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Passive Activity Capital Gains

Growing Concerns with Proposed Amendments Affecting Private Businesses and their Shareholders

by Bennett Jones LLP on

On July 18, 2017, Minister of Finance Bill Morneau announced sweeping changes to the way private businesses and their shareholders are taxed. The Government's proposals encompass three broad areas: (1) income sprinkling...more

Important changes proposed for the taxation of Canadian private corporations

by DLA Piper on

On July 18, 2017, the Canadian federal Finance Minister, Bill Morneau, announced the release of a consultation paper and draft legislation which, if enacted, will have a dramatic impact on the taxation of Canadian private...more

New 3.8% Medicare Tax on Investment and Unearned Income Beginning in 2013

by Thompson Coburn LLP on

Starting January 1, 2013, a new 3.8% Medicare tax will apply to the investment and “unearned income” of individuals, trusts and estates. The tax is intended to apply to income exempt from the regular FICA or self-employment...more

Estate Planning Update - September 2012: New Taxes Make Year-End Income Tax Planning More Important

by Pepper Hamilton LLP on

It is not too early to start planning income tax steps to take before year-end. The Patient Protection and Affordable Care Act introduced two new taxes that will go into effect January 1, 2013. These are a 3.8 percent...more

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