Tax alerts

Tax planning using private corporations

On July 18, the Department of Finance released draft legislation proposing changes to the way private corporations are taxed. During the 75-day consultation period that followed, the government received more than 21,000 submissions—many of which expressed concerns with the new proposals. Among them was a rather robust submission from Grant Thornton [ 2278 kb ], which reflected our views and concerns, as well as those of our clients.