Published: April 10, 2020
Last Updated: April 10, 2020
Several court decisions on income splitting and the use of management service family trusts and partnerships raised concerns over leakage in tax revenue. The 1999 Canadian federal income tax budget curtailed income splitting with minors via taxable dividends paid on private company shares and business income earned by management partnerships that provide administrative and other services to related businesses.
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"This article provides information of a general nature only. It is only current at the posting date. It is not updated and it may no longer be current. It does not provide legal advice nor can it or should it be relied upon. All tax situations are specific to their facts and will differ from the situations in the articles. If you have specific legal questions you should consult a lawyer."
