An informative CPD session with dinner on Wednesday, September 26, 2018 organized by the York CPA Ontario Association.

Two speakers will present on the following topics:

Speaker #1
Title: Passive Income Changes
Speaker: Alex Ghani, Partner at CPA Solutions LLP

In the 2018 Federal Budget, the Government introduce new legislation targeting passive income in CCPCs which was included in Bill C-74 which takes effect for taxation years beginning after December 31, 2018.

The first is a clawback of the Small Business Deduction (SBD) at a rate of $5 for every $1 of Adjusted Aggregate Investment Income. The second change amends the existing refundable tax regime for Canadian Controlled Private Corporations by creating two new refundable dividend tax pools (ERDTOH and NERDTOH - eligible and non-eligible) to better align the refund of taxes paid on passive income with the payment of dividends sourced from passive income.

The changes above make dividend planning and dividend optimization more complex. Beyond losing the tax deferral, impacted taxpayers will face marginal corporate tax rates between 117% and 150% depending on their province. Alex will discuss the changes and details and provide planning suggestions for impacted taxpayers.

Speaker #2
Title: New Income Splitting Changes
Speaker: Sankalp (Sunny) Jaggi, RSM

This session will include a review of the new rules, identify the process to confirm what income is subject to tax on split income (TOSI) and what is not, provide some planning tips, and identify areas of continuing uncertainty.

Registration Deadline: Sept. 23, 2018
Withdrawal Deadline: Sept. 19, 2018