CONTACT US

Rotenberg Consulting Inc.
949 Cavan Street
Ottawa, ON, K1Z 5T1

crotenberg@rotenbergconsulting.ca

Tel: 1.613.366.1613

Fax: 1.613.701.0792

Skype Address: Charles.rotenberg

  • LinkedIn - White Circle
  • Facebook - White Circle

© 2016 ROTENBERG CONSULTING INC.     •     TAX AND BUSINESS CONSULTING   •    CALL 1.613.366.1613                    

FURTHER RETREAT FROM JULY 18TH PROPOSALS

October 20, 2017

 Yesterday I sent out a newsletter setting out the changes that have been announced so far in the retreat from Finance Minister Morneau’s disastrous July 18th tax proposals.

 

So far, the Finance Minister has announced some change to the income sprinkling provisions (albeit minor); the repeal of the proposals related to the Lifetime Capital Gains Exemption; some minor changes to the passive investment income rules and a lowering of the corporate tax rate.

 

Today the government announced that they will not be proceeding with the provisions dealing with the conversion of ordinary income into capital gains.  This announcement says that they will study this matter in consultation with the business and farming communities over the next year.  Unfortunately, they have not said whether any changes proposed after this consultation will be retroactive to July 18th, 2017 or will only apply going forward.

 

Some of the announced changes are to be included in legislation in the 2018 Budget, which will likely be in March or April of next year.

 

Morneau has now announced that the Fall Economic Statement will be tabled on October 24, 2017.  It is possible that we will see some draft legislation included with that Economic Statement.

 

The previous Trudeau government had a habit of legislating by Press Release.  It looks like Justin is, truly, his father’s son.

 

Please reload

Recent Posts

July 13, 2018

Please reload

Search By Tags