On July 18, 2017, the Department of Finance released its private
corporation tax "consultation" proposals with comments
due no later than October 2, 2017; a mere 75 days later. When the
proposals were released, I was on holidays with my family at
Niagara-on-the-Lake. That day, and most of my summer since, have
been anything but a vacation.
Before I get into the guts of my concerns, understand that tax
is tough. Albert Einstein is credited with saying, "the
hardest thing in the world to understand is the income tax."
Yep, I agree with old Albert. I struggle every day to keep up and
understand the Income Tax Act, the Excise Tax Act, international
tax law, the purpose of the provisions, the underlying social
policy and the application of such material to real life facts and
issues.
