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The capital gains exemption: beware of in-law quirks
In Canada, qualified farmland can be transferred from one generation to the next for any dollar amount between cost and fair market value (FMV) at the time of the transfer. Any capital gain triggered by the transfer is covered by the capital gains exemption (up to $1,000,000 for farmland), assuming the land is qualified farm property.
Mar 2, 2018
20 PEOPLE
Corporate finance Audit and accounting Private enterprise International Tax advisory
Commentary
The Honourable Bill Morneau, Minister of Finance, today tabled his third budget – “Equality + Growth: A Strong Middle Class” – which supports the Government’s people centered approach.  The highly anticipated budget released draft legislation related to passive income – the topic that has been on the minds of business owners, investors, and advisors since the July 18, 2017 Finance release which first introduced the subject.  The budget does not propose changes to tax rates at the business or personal level. The budget focused on five key spending areas – growth, progress, reconciliation, advancement and equality.
Feb 27, 2018
Federal Budget 2018-Commentary
Corporate finance Audit and accounting Private enterprise International Tax advisory
Budget 2018 Infographic
From changes to passive investment income (that weren’t quite what was expected) to an absence of response to U.S. tax reform, here are some highlights from Budget 2018.  
Feb 27, 2018
Federal budget 2018-a passive income surprise
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Business advisory services Audit and accounting Private enterprise Tax advisory
Expand your structuring options: consider a limited partnership
While partnerships have existed for as long as people have been in business, their use in Canada has been relegated largely to certain industries and tax situations. The rules governing partnerships legally and under the Income Tax Act (the Act) generally are not as well defined or understood as those for corporations. However, given the increasing complexity of the corporate tax regime – especially for private corporations – partnerships can be flexible, practical alternatives to structuring many businesses. This is particularly true of limited partnerships.
Feb 26, 2018
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Business advisory services Audit and accounting Private enterprise Tax advisory
Infographic: The new rules of the road
On Dec. 13, 2017, Finance Canada released Amendments to the Income Tax Act and Regulations and Explanatory Notes, simplifying measures to restrict income sprinkling. This infographic will focus on the changes to the July 18 proposals, exclusions, reasonableness test and a brief update on the status of the proposed measures related to passive investments. 
Jan 5, 2018
Publications-Infographic: The new rules of the road
Corporate finance Audit and accounting Private enterprise Indirect tax Tax advisory Succession and estate planning
Just a spoonful of TOSI may help the medicine go down
The Department of Finance released its long-awaited proposed amendments to the tax on split income (TOSI) rules on December 13. The release completes a tumultuous year for small business owners, tax professionals, Department of Finance officials, Members of Parliament and the Minister of Finance. The initial July 18 proposals and the short consultation period precipitated a groundswell of consternation and frustration. 
Dec 19, 2017
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Corporate finance Audit and accounting Private enterprise Indirect tax Tax advisory
Amendments to the Income Tax Act and status of proposed measures
On December 13, 2017, Amendments to the Income Tax Act and Regulations and Explanatory Notes to simplify measures to restrict income sprinkling were released by Finance Canada. Today’s Tax Flash will focus on the changes to the July 18 proposals, exclusions, reasonableness test and a brief update on the status of the proposed measures related to passive investments.
Dec 14, 2017
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Transaction services Valuations Audit and accounting Tax advisory
Infographic: Tax changes for farm quota
Effective January 1, 2017, the income tax treatment of farm quota and other eligible capital property (ECP) underwent a complete overhaul.
Dec 11, 2017
Publications-Infographic: Tax changes for farm quota
Corporate finance International Tax advisory
Year-end tax planner: looking back at 2017 and forward to 2018
<strong>Topics include: </strong> <ul> <li>Federal and Provincial Highlights;</li> <li>Entrepreneurs;</li> <li>Personal and U.S. tax matters;</li> <li>International matters;</li> <li>Key tax dates</li> </ul>
Nov 23, 2017
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Restructuring and recovery services Transaction services
When opportunity knocks, can your firm afford it?
Consider one of the following scenarios: Your firm’s leadership wants to become the employer of choice for young professionals — and this includes a workplace that appeals to them — calling for significant leasehold improvements.
Oct 26, 2017
Birdseye view of a dense, green forest.
Corporate finance Transaction services Audit and accounting Private enterprise Tax advisory
Venture Capital concerns are heard
On October 20, 2017, the Department of Finance (“<strong>Finance</strong>”) responded to several concerns raised by the venture capital and angel investor sectors in respect of the proposed taxation of private corporation measures (see CBT’s summary <a href="https://www.collinsbarrow.com/en/toronto-ontario/publications/finance-targets-tax-planning-for-private-corporations" target="_blank">here</a>). 
Oct 20, 2017
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