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IMPORTANT: How Proposed Tax Changes Could Impact Your Oilfield Business: WATCH & Link to More Info HERE


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How Proposed Tax Changes Could Impact Your Oilfield Business

​​On July 18, 2017, the Honourable Bill Morneau, federal Minister of Finance, released proposed changes to three areas of tax planning used by private corporations: income sprinkling, holding passive investments in a private corporation and converting income into capital gains.

MNP has created a summary overview of the proposed changes, as well as separate in-depth analysis pieces on the impact to the three targeted tax planning strategies.

The measures introduced on July 18, 2017 will have a significant impact on tax planning for private corporations. MNP will be working with our clients to determine the potential effect of such changes on their businesses and how to mitigate the impact of these changes. We will also be active in the government’s consultation process to ensure that our clients’ voices are heard moving forward.

To further understand the potential changes to the taxation of private corporations and how they may impact you and your business, contact your MNP Business Advisor.

MNP Minute | Income Splitting | 2017

 

MNP Minute | Conversion of Income to Capital Gains | 2017

 

 

MNP Minute | Passive Investments | 2017

 



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