Tax on split income: new guidance
Confused about how to comply with the tax on split income rules? Help is at hand.
The Canada Revenue Agency knows how complex these rules are and wants to provide guidance. The agency has been developing guidance and consulting CPA Canada on some of the more difficult aspects of the rules. The CRA consulted with CPA Canada on their latest guidance, which focuses on the rules for excluded shares. It takes a deeper dive into these rules and provides some helpful examples. CPA Canada and its committees will continue to offer input as more new guidance is developed.
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