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The Latest at Baker Tilly Dartmouth

  • Baker Tilly

    Avoiding and Getting Off of The TOSI Highway

    On July 18, 2017 the Federal Finance Minister announced proposals to change the tax rules related to income splitting using private corporations. The original proposals were subsequently withdrawn in October, re-released in December and after further changes the proposed legislation was included in Bill C-74 in March 2018. Bill C-74 received Royal Assent on June 21, 2018 and the new tax on split income (TOSI) rules are now in effect as of the beginning of 2018.

  • Baker Tilly

    Proposals address tax recovery on excess payments

    Department of Finance introduced draft legislation on January 15, 2019 in response to errors made by the Phoenix payroll System regarding overpayments to public service employees. Although this legislative response was to deal with the aftermath of the Phoenix System, the proposal applies to both the public and private sector.

    Baker Tilly

    Data Analytics Blog

    Data Is My Parachute Two of my passions in life are data and skydiving. One is work related and the other is my hobby but both share common characteristics. Both require a tool for me to be successful. In skydiving it is my parachute and at work it is data....
  • Baker Tilly

    Family trusts: the aftermath

    The last 24 months have seen a deluge of tax announcements from Ottawa with adverse impacts on private family businesses and corresponding family members. Announcements were implemented, modified and shelved, so taxpayers and advisors are still coping with the changes. Many taxpayers are understandably confused about which planning strategies remain available.

    Baker Tilly

    Don’t dive into the shallow end of the TOSI income pool

    In recent Tax Alerts we discussed the tax on split income (TOSI), which limits income-splitting techniques involving private corporations by taxing amounts received at the highest marginal tax rate. The rules are complex and, to date, the Canada Revenue Agency (CRA) has provided only limited guidance on their application.