Questions? Call 416-367-4222

Tax changes are set to come into force on January 1, 2017 with respect to the income tax treatment of eligible capital property (notably goodwill). The new tax rules will mean higher income taxes on the sale of goodwill and the inability to defer income from the sale of goodwill using a corporation. Business owners should contact our experienced Toronto tax lawyers immediately in order to carry out a corporate reorganization before the end of the year to take advantage of the tax savings offered by the old rules. The reorganization must be completed by December 31, 2016.

Disclaimer:

"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."

Get your CRA tax issue solved


Address: Rotfleisch & Samulovitch P.C.
2822 Danforth Avenue Toronto, Ontario M4C 1M1

Reorganization for New Eligible Capital Property (Goodwill) Rules
Man in tie holding a pen signing tax reports
Federal government introduces new trust reporting rules to take effect in 2023 taxation year – Trustees need to be prepared.
Picture of a Roll of Monday in an Open Jar
Using Promissory Notes to Distribute Trust Income to Beneficiaries: A Canadian Tax Lawyer’s Analysis
Qualifying Disability Trusts – Canadian Income Tax – Toronto Tax Lawyer Guide
A Canadian Tax Lawyer’s Scary Taxes for Halloween
New Trust Tax Reporting Rules: Toronto Tax Lawyer Analysis
New Trust Tax Reporting Rules: Toronto Tax Lawyer Analysis
Bare Trusts Tax Consequences: Canadian Tax Lawyer Guidance
Bare Trusts Tax Consequences: Canadian Tax Lawyer Guidance
ontario college of dentists
Taxation of Testamentary Trusts – Canadian Tax Lawyer Analysis
Infamous Canadian Money Laundering Schemes