Farmers' Advocate Office: Federal Tax Changes, 2017

In July 2018, the federal Department of Finance released a consultation paper entitled Tax Planning Using Private Corporations. Some of the proposed measures, if implemented could have an impact on private businesses, including farms.

This article from Grant Thornton in July 2017 provides a summary of the proposed changes:
Proposed Changes: Tax Planning Using Private Corporations, Grant Thornton, July 2017

This article from Grant Thornton provides an update as of October 2017:
Government Announces Changes for Private Companies in Response to Recent Tax Proposals, Grant Thornton, October 2017

Further background information on this topic is available from BDO Canada here. Note that this article was written before changes were announced in October 2017.

If you have questions about how these changes may impact you, it is recommended that you speak to your accountant at your earliest convenience.

For more information about the content of this document, contact Janet Patriquin.
This document is maintained by Anna Kauffman.
This information published to the web on October 25, 2017.