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On March 19, 2019 the Honourable Bill Morneau, Minister of Finance, presented the 2019 Federal Budget.  For a full commentary on the budget please click this link: 2019 Federal Budget Commentary.

The Provincial Government is making changes to the Employment Standards with their Bill 17. Changes come into effect January 1, 2018, with the exception of the Youth Employment Standards which come into effect on May 1, 2018. Changes include the following:

Most Canadians, and no doubt all small business owners, have heard a lot over the past few months about income sprinkling. On December 12, 2017, the Department of Finance released its final proposals concerning this issue.

Here is what you need to know:

Holding a passive investment portfolio inside a private corporation

The current system allows for a tax deferral of the individual tax payable if the shareholder leaves funds in the corporation for passive investment purposes instead of being distributed to the shareholders, through taxable dividends or salary, for the shareholders to invest personally.