ARTICLE · 02 FEBRUARY 2018

Private Corporations - Fall Update

Minden Gross LLP

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A few months ago, I wrote about the cruel summer I was having trying to understand, explain and rationalize the new tax rules about private companies released on July 18.

CanadaTax

Samantha Prasad

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A few months ago, I wrote about the cruel summer I was having trying to understand, explain and rationalize the new tax rules about private companies released on July 18. I had noted that there was a consultation period, which ended on October 2. My hope was that the government would listen to the public and take cues from the thousands of submissions (about 21,000 submissions, in fact).

Well, it appears that public opinion and feedback from constituents may have had some effect. Since October 2, 2017, there have been a number of releases by the Department of Finance, most of which are quite welcome. But before I summarize the changes as announced, let me recap the original proposals from July.

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