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Private Companies — Passive Income Relief Announced
Private Companies — Passive Income Relief Announced
Finance Minister announced no tax increase on passive investment income below a $50,000 annual threshold.
The government confirmed that it will proceed with measures that target the deferral of tax benefits of passive investments within private corporations for income above this new threshold. Finance said that it intends to release details of these proposed measures as part of its 2018 federal budget, including a technical description of the passive investment income rules. The Finance Minister made the announcement on October 18, 2017.
Download this edition of the TaxNewsFlash to learn more.
