O'Sullivan Estate Lawyers LLP
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January 2018 Archives

Change is the Only Constant: A Perspective on Changes to Canadian Income Tax Rules for Private Corporations

On July 18, 2017, the Federal Government announced changes to close "loopholes" in the taxation of private corporation income. One of the stated goals is to provide for "fairness" in the taxation of income so that business income earned through a private corporation is not "unfairly" subject to lesser rates of tax than other income. The purpose of this blog is not to discuss whether this should be a goal of our tax system. Change is a constant in all things, including tax policy, and a change in tax policy appears to be here, whether popular or not.

Impact of U.S. Tax Reform on Estate Planning for Canadians with U.S. Connections

U.S. tax reform measures were signed into law by President Trump on December 22, 2017, culminating a whirlwind legislative process at the end of 2017 which resulted in the Tax Cuts and Jobs Act (the "Tax Act"), the most significant changes to U.S. tax law in over three decades. These changes, in particular those relating to personal taxation, will impact many individuals and families with U.S. connections.

We are a top-ranked and peer recognized firm, including Margaret O’Sullivan by Chambers Canada Guide 2018 and Chambers Canada High Net Worth 2018 as one of the top six private client lawyers in Canada

  • Top Ranked Canada Chambers 2017 Margaret O'Sullivan
  • Best Lawyers Award Badge
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  • Canadian Legal Lexpert Directory
  • The Law Reviews | Expert Panel 2015
  • Step | Canada | Advising Families Across Generations
  • Top Ranked HNW Chambers 2017 Margaret O'Sullivan
  • Recognised in WHO'S WHO LEGAL | WWL
  • Recognised in WHO'S WHO LEGAL | WWL | Canada 2017
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