New Rules Relating to Income Splitting

On December 13, 2017, the Federal Government released its rules relating to income splitting.

The new rules will limit the ability of owners of private corporations to split income with family members in most circumstances. In general, beginning on January 1, 2018, unless a spouse or child works an average of more than 20 hours per week in the business, it is unlikely that the business owner will be able to split income with the family members.

The new rules will make tax planning more complex. We will keep you informed as more information becomes available and as we develop tax planning opportunities for you relating to the above tax changes.

Sandra Oliver

Dave coached my daughter Olivia’s hockey team during her first two years playing—first with the Dartmouth Whalers and then with Metro East Inferno. He was patient, kind, and fostered her love for the game. I trust Dave. He is reliable and professional. Dave embodies all the characteristics you look for in a great coach.