Updated: Dec 10, 2019
Over the course of 2017 the Canadian Government has been in consultation with the general public on changes to tax law regarding Canadian Controlled Private Corporation (CCPC) for small businesses. Needless to say this has caused great angst with small business people and professionals alike. It has also resurrected financial planning strategies that were thought to be long forgotten.
Over the course of the past 10 years, decreasing corporate and dividend tax rates have made long time retirement planning strategies less attractive for business owners. But with higher tax rates about to take a bigger bite out of owners’ and key employees’ incomes, that could all be about to change.