The Passive Income "Unreform" - Recent Developments

The earning of passive income had always received somewhat special tax treatment and been the subject of some very specific tax rules.  More recently, the 2018 federal budget introduced new changes that have yet another impact on the way passive income is taxed and influences other areas of taxation. It is vital for service providers to stay abreast of these differences and changes when advising their clients.

Join Manu Kakkar of Kakkar CPA Professional Corporation for a practical overview of the tax considerations and treatment of passive income. The presentation will also include several real-world examples and case studies which are drawn from the presenter’s everyday experiences.  In this context, planning alternatives, and common “tips” and “traps” will be discussed.

More specifically, topics covered will include:

Further Curtailment of the Small Business Deduction

  • Introduction of a New Passive Income Limitation
  • Policy Concerns
  • Various Numerical Example
  • Potential planning opportunities - some obvious and some not
  • Should the small business deduction be abolished?
  • Impact of Ontario not following the Federal SBD passive grind rues – why other provinces should follow

New Restrictions on Dividend Refunds

  • Cannot GRIP and REFUND at the same time!
  • Policy Concerns
  • Mini Case Examples
  • Potential double tax traps
  • Potential planning opportunities - some “plain vanilla” and some exotic
  • Recent developments of these rules shall be discussed.

 

Target Audience

This webinar will be of most relevance to accountants, tax practitioners and lawyers, and will also be valuable to other members of the private client services and estate planning industry, including investment and financial advisors. 

Professional Development Credits

Wolters Kluwer Canadian professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.

This Webinar Includes:

  • 30 days to review the webinar recording
  • Print version of the presentation slides

BIO

This webinar is being presented by Manu Kakkar, President Kakkar CPA Professional Corporation:

Manu has over 20 years of experience in taxation in both domestic and international, personal and corporate taxation as well as litigation support. He runs his own independent tax practice with offices in Montreal and Toronto with a team of professionals consisting of tax lawyers and tax accountants. His firm services a diverse client base which includes manufacturing, retail and distribution, construction, farming, real estate, athletes and artists, across Canada and the US. His firm acts as a counsel to over 100 professional firms in Canada and USA specializing in domestic and international reorganizations and transactions. Manu is known as one of the leading experts in Section 55 of the Act and butterfly reorganizations.

He is an award winning and prolific tax writer. His Master of Taxation thesis on butterfly reorganizations won 2 awards and was published in the Canadian Tax Journal. Manu has published and presented over 297 tax articles and presentations since 2001 across Canada. Manu is an authority in taxation as his name has been cited 32 times in the Income Tax Act.

Manu has taught tax at The Canadian Institute of Chartered Professional Accountants, The Canadian Tax Foundation and The Society of Trust and Estate Practitioners, of and various provincial accounting bodies across Canada.

Manu sits on the Steering Committees for the Canadian Institute of Chartered Professional Accountants’ National Conference on Income Taxes; the Canadian Tax Foundation Laval Program Committee; CPA Canada's Small and Medium Practitioner’s Tax Committee; and the Canadian Tax Foundation's Ontario Tax Conference. Manu is currently serving a three-year term on the Canadian Tax Foundation’s Board of Governors.

* Registrations for each Live Webinar are available until the start of each program. We reserve the right to substitute speakers in the case of instructor illness. In the event that we must cancel a Live Webinar, all registrants will be notified immediately and given the opportunity to either transfer their registration to another Live Webinar or a Recorded Webinar or obtain a refund. For all Live Webinars that are recorded, participants will have access to the recording for three months following the Live Webinar. Partial credit will not be awarded for attendees that are not present for the entirety of the Live Webinar. Credit will not be awarded if an attendee does not answer all of the polling questions. Additional credit will not be awarded due to the instructor presenting over the allotted time.