Tax: Passive Income 2019
There are two key pillars of the passive income proposals, which both take effect for taxation years beginning after December 31, 2018.
The first is a clawback of the small business deduction at a rate of $5 for every $1 of adjusted aggregate investment income exceeding $50,000 in the previous taxation year. The second change amends the existing refundable tax regime by creating two new refundable dividend tax pools, a non-eligible RDTOH account and an eligible RDTOH account.
On demand, 1 CPD hour(s)
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This webinar will cover the following:
- A recap of the July 18th passive income tax proposals
- The tax principle of integration
- Tax policy considerations
- Explanation of the ERDTOH & NERDTOH refundable pools
- How to maximizing shareholder after tax-cash with multiple RDTOH pools
- RDTOH transitional rules
- Understanding the definition and components of Adjusted Aggregate Investment Income
- Numerical examples of the small business deduction grind based on AAII
- The impact of Ontario not adopting the AAII SBD grind
- Suggestions to to minimize the SBD grind
Join Jay Goodis, CPA, CA, the Co-Founder and CEO of Tax Templates Inc. on this timely informative webinar.