Chamber of Commerce General Luncheon
Proposed Changes to Taxation for Business
Speaker: Heather Hilhorst CPA, CA MNP Heather is a senior Manager in Taxation Services and will discuss the proposed Federal Government Changes to Business Taxation.
What does this mean for your business?
When: Tuesday September 19th, 2017 Where: Woodlands Inn - One Restaurant Time: Noon to 1 pm Members $20.00 / Non-Members $25.00
RSVP required by 10 am, Monday September 18th, 2017
If your business is incorporated, then you could be facing a larger tax bill and big compliance costs from the government's new proposals to change the way corporations are taxed.
Here are three things you need to know about the tax changes proposed by the federal government:
Do you employ family members? The government wants to scrutinize their compensation to apply a much higher tax rate on income they consider unreasonable.
Do you invest the profits from your business? The federal government is proposing to tax that income at an effective rate of 70%.
Do you want to pass your business on to your children? Tough new rules make it difficult for younger kids to get the capital gains exemption. They could be double-taxed.