Sloan Partners LLP – Chartered Professional Accountants will be hosting a breakfast information session at their offices in the Duke Heights BIA.
Recent developments in CRA auditing strategies, tactics and projects
- What this means for business owners and individuals
- How to reduce audit repercussions for your business
New “Tax on Split Income” – TOSI – Rules
- Planning to avoid getting caught by the new rules
Wednesday, October 24, 2018
- Breakfast : 8:00 AM
- Presentation : 8:30 AM – 9:30 AM
What is CRA auditing now?
During the session Sloan Partners will review three of the most common and critical auditing projects affecting business owners today – how clients are identified, what to do for avoiding trouble, and how to address a CRA audit if it already has or may be coming your way. Knowing how you could be exposed is the biggest factor in making sure that you are on-side and not likely to be impacted by a CRA audit.
The new Tax on Split Income (TOSI)
Effective on June 21, 2018, a new set of rules for Split Income was passed into law, setting out a myriad of ways in which business owners can no longer split income with their family and related parties. Most business owners have paid compensation to their families. For some business owners, this has been a major strategy to minimize tax. For the 2018 tax year, almost all these opportunities no longer exist. The new Tax on Split Income (TOSI) is very specific in what it allows. Before you consider compensating your relatives in 2018, be sure that you and/or your accountant understand these new rules.
Attend this Tax Info session for an overview of these rules. Register now!