Most taxation is concerned with raising revenue for government expenditure in the short term (typically within a year or so of the taxable event). A well-designed modern tax will also typically involve a withholding mechanism: think, for example, of payroll withholding on wages or the charge / input tax credit system in a typical VAT, such as Canada’s GST. The Digital ...
The 2017 Federal Budget (the “Budget”) was released March 22nd, 2017 (“Budget Day”). Highlights include:
Upcoming Review of Private Corporate Tax Planning
The Budget announced that the federal government will be looking into:
- Income sprinkling using private corporations: The Budget states that this strategy can reduce income taxes by causing income that ...
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