Federal Small Business Tax Proposal: Minister clarifies some clauses, Senate report advises a cancellation, to go in effect 1.1.18
· by Huzaifa Saeed
On Wednesday, December 13th, the Department of Finance and Minister Bill Morneau released a final set of clarifications for the Federal Small Business Tax Proposals. As previously covered, these proposals will have a significant impact on businesses that have come to rely on income splitting amongst family members and passive income investment back into the corporation in order to save for retirement, capital upgrades or other downturns.
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