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Maximize tax exemptions on split income

Reference: FCC

Changes to the federal Tax on Split Income rules have gone through revisions in the last few years, and some experts say they are still seeking clarity on some aspects of the rules.

Kurt Oelschlagel, tax partner with BDO Canada, says the Canada Revenue Agency changed some rules and changed allowable and excluded business expenses.

Young adults and excluded business exception

In a presentation given during the Canadian Association of Farm Advisors’ 2018 Farm Tax Update conference, Oelschlagel lists several notable TOSI characteristics proposed by the Department of Finance, that are now no longer being pursued by the ministry... Read More