This course will cover the fundamentals of the “expanded” TOSI rules.
In 2018, existing Tax on Split Income (“TOSI”) rules were significantly broadened. Today, TOSI makes it much more difficult – if not impossible – to save tax by splitting the income of a family business with family members. This course will cover the fundamentals of the “expanded” TOSI rules.
Topics will include:
• Tax implications of income being subject to TOSI • What is TOSI and why does it exist? • Background & history o Kiddie Tax – 1999 to 2017 o TOSI – since 2018 • Detailed review of the expanded TOSI rules • Application of the expanded TOSI rules o Examples • Practical considerations
Educator and Tax Advisor
Alex Garber, CPA, CA, MTax has been working in public accounting since 2004, focusing primarily on income taxation for Canadian owner-managed businesses and their shareholders. Alex presents PD seminars for CPA Ontario and facilitates at the CPA Canada In-Depth Tax Program. Alex is also a faculty member at the Schulich School of Business, York University, where he teaches income taxation at both undergraduate and master's levels. Alex started his career with Deloitte and Touche LLP in Toronto. He is currently an independent tax advisor, assisting various clients, sole-practitioners and CPA firms in Ontario.
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
